The temperature outside is not too hot, hot, hot; but the St. Louis real estate market is hot, hot, hot!
The average sale prices of homes continue to increase. May average sale price in the Lafayette High School area was $380,911 with average days on market at 97.
Buyers are motivated by the low interest rates and many are relocating to St. Louis for their job. The buyers are out shopping – one of my listings had 15 showings in an 8 day period and went under contract 11 days after it was first listed.
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Sellers are receiving near top dollar for their home because housing inventory is low. Some properties are receiving multiple offers. The inventory just in the Lafayette High School area is at a three month supply and that makes for a seller’s market.
The future of the real estate market in St. Louis looks good as many businesses will be adding jobs at their St. Louis location. Express Scripts will be adding 1500 jobs to its North St. Louis county campus and Monsanto is adding 675 new jobs at its Chesterfield location. Since this past April, Boeing Co., Charter Communications and Reinsurance Group of America have each announced plans to add hundreds of jobs to facilities in St. Louis County.
Find out what's happening in Eureka-Wildwoodwith free, real-time updates from Patch.
If you are considering the sale of your home – waiting may not be necessary. Contact The Hyde Group with any questions. We’d be happy to meet with you and let you know what your home is currently worth and what The Hyde Group can do to sell your home.
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Information provided on the statistical chart was pulled from the Maris Multiple Listing Service of St. Louis.