The latest news and emerging trends we’re seeing in our market.
If you’ve been wondering about the current state of the real estate market, we’re here to provide you with an update. Despite some expectations of a slowdown, the market remains steady and even shows signs of picking up as we approach the month of June.
For those considering selling their homes in Saint Louis County, Warren County, Saint Charles County, Lincoln County, or Jefferson County, there’s good news. The demand for homes in these five counties remains high, ensuring that sellers can still get a great price for their properties. In fact, when we analyze these counties collectively, we find that home prices have increased by 3.5% compared to last year.
Another crucial factor to consider is the average days on the market. Currently, homes in Saint Charles and Saint Louis counties spend an average of 19 days on the market, while Warrenton, Lincoln, and Jefferson counties see an average of 30 days. These timeframes indicate that properties are selling relatively quickly, allowing sellers to move on with their plans in a reasonable timeframe. The main driver behind this trend is the supply of available homes, or rather the lack thereof. Limited inventory has consistently impacted the real estate market.
“The demand for homes remains high.”
One factor that may have caused some uncertainty among buyers was the fluctuating interest rates. However, it seems that interest rates are no longer deterring people from making important life changes. Whether it’s starting a family, going through a divorce, graduating from college, or simply downsizing, individuals are determined to live where they want to live. They refuse to let interest rates stand in their way.
If you’ve been contemplating a move and changing your address, rest assured that there are plenty of motivated buyers actively seeking their new home. It’s crucial not to let media reports or general market noise sway your decision. Your goals and aspirations for your home should remain the driving force behind your choices.
If you have any specific questions about the market in your neighborhood, don’t hesitate to reach out to us by phone or email. We’re here to assist you and provide any information you may need to make informed decisions about your property.
