Following is the weekly market report for single family homes in the City of St Louis (areas 1,2,3). These statistics were gathered from the local Multiple Listing Service:
There were 1773 total active listings on the market. Our average days on market is 117.
There were 147 new active listings, with List prices ranging from $9,900 to $899,900.
31 listings went under contract (Contingent/Option), with List prices ranging from $29,900 to $430,000.
60 listings went Pending, with List prices ranging from $8,000 to $425,000.
61 listings Sold, with Sold prices ranging from $7,200 to $616,900.
145 listings Expired, with List prices ranging from $9,900 to $1,295,000.
And, finally, 21 listings went Inactive, with List prices ranging from $49,900 to $659,000.
The pending ratio, which is the number of properties going under contract compared to the number of active properties on the market, was 3.4% (60/1773). This is down from last week's pending ratio of 4%.
The absorbtion rate (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 - actives/number of homes sold in last 30 days) was 9.96. This is down from last week's rate of 10.6.