It’s time for another market update. Today, I want to bring you some information from the third quarter of 2017 in St. Louis’ metro market. This update will include data from St. Louis City, St. Louis County, and Charles County.
St. Louis City saw an uptick of $10,000 in the median sales price this year compared to last. In 2016, there were 1,024 sales in the third quarter. This year, there were 1,034 sales.
In St. Louis County, there were 4,428 sales this year. This is up from 4,340 sales last year. However, median sales price barely changed. Last year it was $190,554. This year, the median sales price for the third quarter was $191,333.
Because of the large amount of new construction in Charles County, their prices have increased quite a bit. In St. Charles County, there were 2,108 sales in 2016, but sales dropped in the third quarter of 2017 to just 2,083.
However, the median sales price was up considerably, going up to $217,667 from last year’s $201,250. New construction is largely to thank for this increase in price.
My overall feeling about the market is that now is a good time to buy. Rates are still significantly low, hovering around 4%. External factors are also in our favor since we don’t tend to experience severe weather that could impact our market.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.