St. Louis Market Update: Prices Climb in October 2024

Written by David Dodge

According to Dennis Norman from St. Louis Real Estate News, "Customers in the St. Louis City real estate market have been able to afford homes throughout 2024, and prices are still on the rise as we move into the fourth quarter." Data from MORE, REALTORS® shows that the average price of homes in St. Louis City increased in September 2024 due to the sustained demand for real estate.

A Closer Look at the Numbers

Real estate statistics for median home prices in St. Louis City reveal the following for September 2024:

• The average price increase from the same time last year was 0.91%, with the median sold price at $220,500 in September 2023.
• While this increase may seem modest, it is a positive indicator for homeowners and investors.
• In comparison, August 2024 recorded a median home price of $227,500, showing a small 2.20% decrease. However, fluctuations in the market are common during seasonal transitions from summer to autumn.

Navigating the Market

Whether buying or selling, navigating the real estate market can be challenging. It’s crucial to work with proficient agents like those at MORE, REALTORS® who are familiar with current trends and can help you time your transactions effectively.

For buyers, a knowledgeable agent can assist in finding homes that meet both your needs and budget, ensuring you get the best deal. Sellers can also benefit from an agent who can market their property to the right buyers and secure the best value.

Key Takeaways

• Home prices are rising: The median sold price in St. Louis City was $222,500 in September 2024, reflecting a 0.91% year-over-year increase.
• List prices are up: The median list price in September 2024 reached $215,000, a 2.38% rise compared to last year.
• Sales are strong: The number of homes sold in September 2024 increased by nearly 11% compared to September 2023, signaling robust demand.

With home prices continuing to rise, now could be the perfect time to make your move in St. Louis City's real estate market. Stay updated on market trends, and consult with a real estate professional to ensure you're making informed decisions.