Following is the weekly 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:
We have 1803 total Active listings.
179 listings Sold in the last 30 days.
Our average days on market (DOM) is 116.
There were 148 new Active listings, with List prices ranging from $19,000 to $1,899,000.
43 listings went under contact (Contingent/Option), with List prices ranging from $24,900 to $465,000.
81 listings went Pending, with List prices ranging from $14,900 to $430,000.
35 listings Sold, with Sold prices ranging from $8,500 to $359,450.
57 listings Expired, with List prices ranging from $18,000 to $2,195,000.
And, finally, 33 listings went Inactive (Withdrawn/Cancelled), with List prices ranging from $34,900 to $529,500.
Our Pending Ratio this week was 4.5%, up from last week's ratio of 3.4%. This ratio demonstrates the number of properties going under contract compared to the number of active properties on the market - pendings/actives.
Our Absorbtion Rate this week was 10.07, up from last week's rate of 9.96. This rate tells us how many months of inventory we have on the market. It demonstrates how long it would take to sell all the properties on the market if no other properties came on the market - active homes on the market/number of homes sold in last 30 days.