St. Louis, MO - Local Housing Data - Summary

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St. Louis, MO Local News

  • 1Q14 St. Louis Housing Market Analysis

    Sales and average household income for buyers are both down in St. Louis. The first-quarter data from Metrostudy for the St. Louis housing market shows sales have slowed significantly in 2014. Despite the drop in closings overall, price appreciation in the market is still picking up pace hindering...

  • St. Louis, MO - March 2014 - New Home Closings Figures Signal Market Decline Getting Steeper

    New home sales fell in St. Louis, MO in March. Real Estate Owned (REO) closings as a percentage of existing home closings dropped, falling 6.3% percentage points. The percentage of new home closings belonging to single family homes rose, climbing 2.1% percentage points. Average prices of new homes...

  • St. Louis, MO - February 2014 - New Home Closings Numbers Give Hints Market Decline is Slowing

    New home sales fell in St. Louis, MO in February. The percentage of new home closings belonging to single family homes rose, climbing 7.5% percentage points. Mortgage amounts on new homes moved up, rising 14.6%. Average prices of new and existing homes dropped 4.6%. The percentage of new home...

Newest Numbers Show Prices of New Homes Rise in St. Louis, Sales Drop

Posted on: Jul 06, 2014 07:36:08 AM

In the St. Louis, MO market, closings of new homes slid year-over-year in April, but the percentage drop was not as steep as March 2014, giving suggestion that the market may be leveling out. There was a 10.2% decline in new home closings from a year earlier. This came after a 14.6% decline year-over-year in March.

A total of 2,846 new homes were sold during the 12 months that ended in April, down from 2,868 for the year that ended in March.

New home closings represented 4.5% of overall housing closings. A year ago, new home closings accounted for 4.1%. Closings of new and existing homes dropped year-over-year in April after also falling in March year-over-year.

Pricing and Mortgage Trends

In April, the average price of newly sold homes gained 5.1% year-over-year to $291,436 per unit. This surge is smaller than the 14.7% gain in March year-over-year.

The average mortgage size on new homes moved north year-over-year along with new home prices. The average mortgage size saw a 1.1% lift year-over-year to $235,498 in April. In March 2014, average mortgage size jumped 8.8% from a year earlier.


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