How do we know the seller’s market is still going strong? It seems like nearly every house we list is sold within the first week. Some of our sellers are getting multiple offers the first weekend on market, especially in the Tower Grove and Shaw neighborhoods. And our buyers are more frequently in competition with other buyers. Both anecdotal information and statistics show that there is an inventory crunch.
- St. Louis home sales up by double digits in 2016 – St. Louis Business Journal
- St. Louis area housing market ‘crazy busy’ – STLToday.com
- St. Louis home sales rise as inventory drops in June – St. Louis Business Journal
If you have been considering selling your home, now is the time. Or if you tried in the past with no luck, we have strategies that will help you get your house sold and for a good price.
We can help you quickly get your home ready to list and we can help you through the process of how to sell your home and buy another at the same time.
June 2016 Housing Report for St. Louis City and County
Earlier this summer we provided a thorough report on the St. Louis market. The June St. Louis Realtors Housing Report is out and once again, indicates that sale prices are up, days on market are down, and inventories are low.
This monthly report is released from the St. Louis Association of Realtors. It tracks the sale of existing homes and is used to gauge the demand in the housing market. Besides the number of existing homes sold and the median selling prices, inventory levels are reported through the months of inventory supply figure. This figure represents the length of time in months required to eliminate the existing inventory measured during that period. If there are 0-4 months of inventory, it is considered a seller’s market because houses are selling very quickly. In a seller’s market, sellers have the advantage because demand for property exceeds supply.
We understand how current market conditions effect both sellers and buyers. We have team members who can help you in either situation. Contact Us to discuss your needs.