Newest St. Louis Housing Stats - May 2022
(These figures compare real estate activity in May 2022 to May 2021 Highlights and emphasis are from Finding Homes for You)
After two years of record-setting activity, there are signs the housing market might be cooling. High home prices and a surge in mortgage interest rates are slowing buyer activity, with home sales declining for the third consecutive month under the weight of soaring homeownership costs. The National Association of REALTORS (NAR) reports existing home sales were down 2.4% from the previous month, while pending sales fell 3.9% as of last measure, extending the trend of recent months. Economists predict sales will continue to soften in the near future, which may put downward pressure on home prices.
New listings decreased six percent for residential homes and 10.9% for townhouse/condo homes. Pending sales decreased 9.9% for residential homes and 18.3% for townhouse/condo homes. Inventory decreased 18% for residential homes and 34.3% for townhouse/condo homes.
Median sales price increased 3.8% to $275,000 for residential homes and five percent to $210,000 for townhouse/condo homes. Days on market decreased 17.4% for residential homes and 30.6% for townhouse/condo homes. Months supply of inventory decreased 7.7% for residential homes and 33.3% for townhouse/condo homes.
The slowdown in sales has provided a much-needed lift to housing supply, with inventory up 10.8% from the previous month according to NAR, although supply remains down 10.4% compared to this time last year, with only 2.2 months’ supply of homes at the current sales pace. As the nation continues to explore ways to solve the ongoing housing shortage, estimated at 5.5 million homes, the Biden administration recently unveiled the Housing Supply Action Plan, which aims to expand housing access through a number of administrative and legislative actions and help relieve the nation’s housing crisis over the next five years.
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If you're a buyer reading the report above you probably noticed "Economists predict sales will continue to soften in the near future which may put downward pressure on home prices." We understand your sentiment and hope these economists are correct so more people can buy homes. However many buyers sometimes find out a little too late where prices are being reduced and by how much when these homes are snatched up buy more aggressive buyers. So how do you find this information?
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Attention Data Geeks and Chart Lovers Keep Scrolling for More
The charts below will show you month by month over the past 3 years how many new listings came on the market on a monthly basis.
If you put your mouse over the graph lines you will see the actual numbers and how they change month to month. This data is refreshed continuously so mark this page and come back in the future to see the trends.
St. Louis County New Listings
St. Charles County New Listings
St. Louis City Median Sales Price 3 Bedroom Home Over the Last 5 Years
The charts below are interactive. As you move your cursor (or finger on mobile devices)on the chart line you'll see the median price for each month going
back to 2016.
St. Louis City Median Days on Market During the Same 5 Year Period
How Long it Took a Home to Sell
St. Louis County Median Sales Price 3 Bedroom Home
Over the Last 5 Years
St. Louis County Median Days on Market During the Same 5 Year Period
How Long it Took a Home to Sell
St. Charles County Median Sales Price 3 Bedroom Home
Over the Last 5 Years
St. Charles County Median Days on Market During the Same 5 Year Period
How Long it Took a Home to Sell
Links to More Communities for Median Prices 5 Year Period
Ballwin
Chesterfield
Wildwood
Brentwood
Maplewood
University City
Ladue
Kirkwood
Central West End
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