The average days on the market is remaining stable even though it is higher than the bubble times. The months of supply (aka months of inventory and absorption rate). This number tells you how many months it would take for all the current homes for sale to sell, given a monthly sales volume. Four to five months of supply is average (this number varies from source to source). If the number is smaller, the buyers are dominating the market; greater the number, there are more sellers than buyers.
Here are a couple of examples of homes that sold in our metropolitan area during the month of September.
This brick bungalow at 9018 Powell in Brentwood was bought by a young professional family with a child. They moved to STL from out of town and chose Brentwood for its central location and School District. The house sold in September 2012 for $160,000. It was on the market for 86 days. They can walk to school and Carl's Drive-In. It was in move-in condition.
This downtown loft district condo at 1010 Saint Charles sold on October 1st (so we cheated a little) for $416,800 and sold with 0 days on the market. The 2 bedroom, 2 bathroom condo features exposed brick, 12 foot ceilings, 60+ feet of huge windows, gourmet kitchen, walk-in pantry and laundry room.
Keller Williams Realty STL
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