Mark’s Market Update: 2018 VS 2019 Market
Welcome to another edition of Mark’s Market Update!
As promised, 2018 vs.2019 market changes. Inventory Levels, Months of Inventory and Median Sales Prices..
We focused on numerous municipalities broken down, in addition to Saint Louis City, Saint Louis County, and Saint Charles County.
Overall market: In the majority of municipalities, the number of listings and homes sold were down year over year by single digits for the majority, and a few were down double digit percentages from 2018 to 2019.
A few municipalities saw higher inventory levels and sales, primarily related to new construction and other building options.
Median sales prices were up in 2019 from 2018. Numbers were up mid to high single digit percentages in most areas. The stand out exceptions were Town and Country, up 15% in median sales price, and Kirkwood was up 18% year over year.
Months of inventory was significantly lower in 2019 from 2018. There was less than 1.5 months of inventory in most markets! This means that if no new homes hit the market in 1.5 months, the existing inventory would sell out..
Tied together: Higher median sales prices, lower inventory levels, resulting in lower months of inventory = a sellers market!
There are still opportunities for our buyers, and we are always looking out for unique buyers opportunities!
If you are looking for municipality statistics that aren't on the attached list that I've shared, feel free to call, email, or text.
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Estimated Home Valuation: www.stlouishomevalues.org
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