Following is the Weekly Single Family Home Market Report for the City of St Louis (Areas 1,2,3) for the week of February 8, 2008. These statistics were gathered from the local Multiple Listing Service.
There were 121 new listings, with List prices ranging from $25,000 to $1,225,000.
There were 30 listings that went under contract (Contingent/Option), with List prices rangin from $26,000 to $459,000.
52 listings went Pending, with List prices ranging from $29,000 to $620,000.
57 listings Sold, with Sold prices ranging from $6,900 to $620,000.
62 listings Expired, with List prices ranging from $9,900 to $315,000.
28 listings went Inactive (Withdrawn/Cancelled), with List prices ranging from $17,000 to $389,900.
For the Sold listings, days on the market (DOM) ranged from 21.1% for 0-30 days to 35.1% for 120+days.
For the Sold listings, the lowest agerage Selling Price (SP) to List Pric (LP) ratio was 91.1% for homes that had been on the market for 31-60 days.
What does this mean? Homes are staying on the market longer, but sellers are still not coming off their list prices that much. It's not so much of a Buyer's Market that the Media is trying to make everyone believe, in the St. Louis market, anyway. Our SP to LP ratio is staying pretty stable.
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