St. Louis a seller’s market, say local real estate agents

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ST. LOUIS, MO (KTVI) - How hot is the housing market in the metro area this year? St. Louis was just named the number two real estate market in the United States, according to—behind Providence, Rhode Island—and it’s certainly living up to that reputation.

Lisa Adkins, the broker/owner of Re/Max Platinum in O’Fallon, Missouri, said closed sales are up over 10 percent from last year.

According to the St. Louis REALTORS housing report, average sales prices are up four percent to $220,000. The average number of days a home stays on the market is down 13 percent from a year ago.

You’d think this would have the local realtors dancing in the streets and putting 'For Sale' signs in every yard, but there’s a problem, according to Adkins.

"There's not enough inventory to keep up with the demand,” she said. “We have so many properties that are getting multiple offers. We could probably sell 10 percent more than last year if we had more inventory."

So if you’ve been thinking about selling, now is a great time.