In the past couple weeks, the real estate market in St Louis seems to be back! Homes are selling, buyer's seem to be out consistently, and the overwhelming desperation seller's seemed to have a year ago seems to have diminished. In its place is a mild level of confidence that a nicely presented home can sell for the right price.
There are all kinds of data used to explain the market. One 'snapshot' that I keep my eye on is the number of homes listed in the past 24 hours, versus the number of homes sold in the past 24 hours as listed ever day in the MLS.
The above graphic is updated hourly in the MLS that realtors see each day.
Based on the above numbers; 218 homes were listed today, 256 homes went "under contract" in the past 24 hours, and 155 were either sold (144) or leased. Not having captured a graphic such as this in the darker days of St Louis real estate, from memory the numbers were a bit different. The typical monday morning would have 218 listings put on the market, but only 50 homes would go under contract and 50 would sell. Expired and cancelled listings dominated the market in those days.
Recent years, the "spring selling season" would take place, but would usually only last for a few weeks in most areas. By this time, the 'selling season' would be over.
With great prices and super low interest plus pent up need for buyers to enter the market, our season seems to be going strong!