Following is my market report for Residential Single Family Homes 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 1479 Total Active Listings on the market.
192 listings Sold in the month of March.
Average sales price was $92,798.
Maximum Sales Price in the last 30 days was $820,000.
103 was the average days on market (DOM).
420 listings were Newly Active (New Listings) on the market, with List prices ranging from $4,000 to $1,595,000.
62 listings went Under Contract (Contingent/Option), with List prices ranging from $5,000 to $448,500.
148 listings moved closer to closing (Pending), with List prices ranging from $2,000 to $1,249,900.
192 listings Sold, with Sold prices ranging from $2,500 to $820,000.
164 listings Expired from the market, with List prices ranging from $7,900 to $1,499,000.
And 80 listings went Inactive (Cancelled/Withdrawn), with List prices ranging from $5,000 to $375,000.
The Pending Ratio was 10.0%. This is the Pendings divided by the Actives (148/1479). This is the number of properties going under contract compared to the number of active properties on the market.
The Absorbtion Rate was 7.70. This is the active homes on the market divided by the number of homes sold in the last 30 days (1479/192). 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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