St. Louis Housing Market Experiencing Tight Inventory as Interest Rates Increase
According to MARIS (Mid America Regional Information Systems) MLS year-over-year statistical data, the median sales price rose 6% in April 2018 to $178,700 from the April 2017 median price of $167,625.This was the highest sales price numbers in St. Louis since June of last year. Months of inventory were down 9% year- over- year at 2.16 months, well below the desired 6-month supply of a balanced housing market. Median days on market reached their lowest point of 2018 at 12 days compared to 19 days last month and 14 days in April 2017. Single family homes sold experienced a 10% increase from month -over- month and the number of active listings rose 5% from March to 3,514 from 3,312.