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 had 845 total Active listings.
41 listings Sold in the past 30 days.
Our average days on market (DOM) was 164.
There were 60 new Active listings on the market, with List prices ranging from $44,900 to $575,000.
9 listings went under contract (Contingent/Option), with List prices ranging from $149,900 to $337,500.
16 listings went Pending, with List prices ranging from $79,900 to $395,000.
Only 6 listings Sold, with Sold prices ranging from $65,589 to $317,000.
50 listings Expired, with List prices ranging from $107,000 to $669,900.
And 21 listings went Inactive (Cancelled/Withdrawn), with List prices ranging from $114,900 to $324,900.
Our Pending Ratio was 1.9%. This rate held pretty steady from last week. 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 was 20.6, down from last week's rate of 21.3. This rate tells us how many months of inventory we have. It demonstrates how long it would take to sell all the properties on the market if no other properties came on the market - actives on market/number of solds in last 30 days.