St. Louis housing market continues trend of modest gains, say local Realtors
The St. Louis housing market continues to record modest gains in home sales, the St. Louis Association of Realtors said today.
Some highlights from the report:
- Sales of single-family homes and condominiums totaled 1,521 in May in St. Louis and St. Louis County, up 22 percent from April and also up 22 percent from a year ago.
- The average home price of $182,197 was 2 percent higher than in April, but flat compared to the same time period last year.
- May’s median price of $140,000 was up 4.8 percent from the May 2011 median price of $133,600. (The median is a typical market price where half of the homes sold for more, half sold for less.)
- May was the fifth consecutive month of improvement.
"The St. Louis housing market continues to show improvement, due in part to increased consumer confidence, historically low interest rates and affordable home prices,’’ Glenn Vatterott, president of the Realtors association, said in the report.
Vatterott told the Beacon in May that he believes the housing market might finally be in recovery mode.