ST. LOUIS– Anyone looking for a home can tell you they are flying off the market and new data from Realtor.com shows that is true in St. Louis as well.
Homes were on the market for an average of 46 days this May. That may sound like a lot, but it is 24 days faster this last May.
If you think it’s hard to find a home here, some places like Nashville, Columbus, Oh., and Rochester, NY, are seeing an houses staying on the market for less than 15 days on average.
Homes nationwide also hit a new high for price reaching an average of $380,000. In St. Louis, the average price last month was $255,500. St. Louis is only seeing a slight increase of 2.2% over last May. Places like Austin, Tx are seeing average home prices that are 32% higher than last May.
Low inventory is one of the reasons prices are reaching new highs. The number of active listings in the St. Louis area is down 44% compared to last May.
The inventory is still tight despite more homes hitting the market. St. Louis is seeing an 18.5 increase in new listings compared to last May.