Following is my market report (FINALLY) 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 1557 Total Active Listings on the market.
194 listings Sold in the month of April.
Average sales price was $99,119.
Maximum Sales Price in the last 30 days was $997,000.
86 was the average days on market (DOM).
343 listings were Newly Active (New Listings) on the market, with List prices ranging from $3,500 to $1,449,900.
55 listings went Under Contract (Contingent/Option), with List prices ranging from $10,000 to $899,000.
147 listings moved closer to closing (Pending), with List prices ranging from $3,280 to $849,900.
194 listings Sold, with Sold prices ranging from $1,500 to $997,000.
139 listings Expired from the market, with List prices ranging from $800 to $699,000.
And 61 listings went Inactive (Cancelled/Withdrawn), with List prices ranging from $15,900 to $1,695,000.
The Pending Ratio was 9.4%. This is the Pendings divided by the Actives (147/1557). This is the number of properties going under contract compared to the number of active properties on the market.
The Absorbtion Rate was 8.03. This is the active homes on the market divided by the number of homes sold in the last 30 days (1557/194). 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.
For the 194 Sold listings, 32% of the listings were on the market 0-30 Days, and 26.3% were on the market for 120+ days. For the 0-30 day category the Average Sales Price to List Price Ratio was 94.6%. For the 120+ day category, the Average Sales Price to List Price Ratio was 74%. This shows that homes that are priced correctly will sell faster and for more money that overpriced listings!