The median sales price of residential single-family homes in the St. Louis area was consistently up again in December, likely fueled by a decrease in new listings and drop in single-family residential homes for sale. Meanwhile, town-homes and condominiums moved in a different direction with drop in sales price and an increase in inventory of homes for sale.
According to data released by Mid America Regional Information Systems, 1287 single-family homes and 214 town-homes/condos sold in December 2018. Median sales price was $187,000 for single-family homes and $149,950 for town-homes/condos. In December of 2017, 1,553 single-family homes sold at a median price of $182,000 and 221 town-homes/condos sold at a median price of $165,000.
Year-to-date, 20,186 single-family homes have sold for a median price of $195,000 and 3,541 town-homes/condos have sold for a median price of $158,500. This is a 2.2 percent and 1.5 percent decrease respectfully.
December’s residential single-family new listings fell short of December 2017 by 17 percent from 1,199 to 995 while town-home/condos saw 164 new listings compared to 192, a 14 percent decrease.
December’s days on market through closing increased for both residential single family homes and town-homes/condos. Single-family homes, compared to last December, grew from 43 to 49 days and town-homes/condos rose from 45 to 48 days.