Following is my market report for single family residential homes in the city of St Louis (Areas 1,2,3).  These statistics were gathered from the local Multiple Listing Service and are provided as a service to the public:

There are 1310 total Active listings on the market.

128 listings Sold in the last 30 days.

Average sales price was $94,143.

93 was the average days on market (DOM).

There were 74 new Active listings this past week, with List prices ranging from $13,000 to $1,250,000.

27 listings went Under Contract (Contingent/Option), with list prices ranging from $44,000 to $1,439,000.

36 listings moved closer to closing (Pending), with List prices ranging from $10,000 to $360,000.

37 listings Sold, with Sold prices ranging from $3,800 to $751,000. 

45 listings Expired from the market, with List prices ranging from $4,900 to $750,000.

And 27 listings went Inactive (Cancelled/Withdrawn), with List prices ranging from $21,900 to $169,900.

For the 37 listings that Sold, 24.31% were on the market for 30 days or less, and 37.8% were on the market for 120+ days.  For the 30 day or less category, the average sales price to list price ratio was 92.8%.  For the 120+ day category, the average sales price to list price ratio was 76.9%.  That goes to show homes priced correctly will sell quicker and closer to list price.

The Pending Ratio was 2.7%.  This is the Pendings divided by the Actives (36/1310).  This is the number of properties going under contract compared to the number of active properties on the market.

The Absorbtion Rate was 10.23.  This is the active homes on the market divided by the number of homes sold in the last 30 days (1310/128).  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.

http://www.timtanzhomes.com