In March of 2019 the median sales price of residential single-family homes in St. Louis City and County combined was $196,500, reflecting an increase of 8 percent while the median sales price for townhomes/condos was $160,000, reflecting an increase of 3.2 percent from the prior March. This is symptomatic of a continuing theme of a declining inventory of single-family residential homes and townhomes/condos for sale.
According to data released by Mid America Information Systems, the 1,348 single-family homes sold in March of 2019 reflected a 14.6 percent decline from the prior March while the 267 town-homes/condos that sold reflecting a decline of 1.5 percent from the prior year.
New residential single-family listings in March of 2019 declined by 20.3 percent from the prior year while the townhome/condo inventory of 840 new listings reflected a decline of 23.8 percent from the prior year.
March’s average days on market through closing stood at 54 days for 2019 as opposed to 46 days in the prior year while townhomes/condos increased from 44 to 57 average days on market compared to the same month last year.