Following is my market report for Multi-Family Dwellings (2-4 Families) in the city of St Louis (Areas 1,2,3,4,5). These statistics were gathered from the local Multiple Listing Service and are provided as a service to the public:
There were 476Total Active Listings on the market.
48 listings Sold in the last 30 days.
Average sales price was $56,535.
Highest sales price in the last 30 days was $305,000.
79 was the average days on market (DOM).
There were 21 new Active listings, with list prices ranging from $18,900 to $269,900.
14 listings went Under Contract (Contingent/Option), with list prices ranging from $12,000 to $130,000.
18 listings moved closer to closing (Pending), with List prices ranging from $10,000 to $223,900.
12 listings Sold, with Sold prices ranging from $5,500 to $214,000.
11 listings Expired from the market, with List prices ranging from $18,000 to $279,000.
And 5 listings went Inactive (Cancelled/Withdrawn), with List prices ranging from $10,500 to $90,000.
The Pending Ratio was 3.8%. This is the Pendings divided by the Actives (18/476). This is the number of properties going under contract compared to the number of active properties on the market.
The Absorbtion Rate was 9.92. This is the active homes on the market divided by the number of homes sold in the last 30 days (476/48). This tells us how many months of inventory we have on the market. It demonstrates how long it would take to sell all the homes on the market if no other homes came on the market.
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