August Market Update
๐๐ฎ๐ ๐ฎ๐ฌ๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ | Year over Year Change
Central Corridor
ย
Average Sale Price $575,823 | +2.8%%
Average Price per/Sqft. $253 | +3.3%
Homes Sold 209 | -19%
Average % of List Price Paid 100.1% | -0.6%
Average Days on Market 25 | -16.7%
Months Supply of Inventory 1.8 | -21.7%
Active Listings 41 | -28.8%
ย
"Mortgage rates continue to escalate, moving closer to 6%. According to Freddie Mac, the 30-year fixed mortgage rate rose to 5.89%, surpassing their recent high in mid-June. As a result, the monthly mortgage payment is about 60% higher compared to last year. While borrowing costs have increased faster than peopleโs wages, buyers currently need to spend 10% more of their budget for their mortgage payment if they want to buy the median-priced home....Nevertheless, home prices continue to rise as inventory remains tight." - NAR
ย
Gladys Manion Real Estate
#Since1936 #GladysManion #STLRealtor #LuxuryRealEstate #STLRealEstate #StLouis #STLRealtor #SellingSTL #StLouisLuxury #StLouisRealtor #Clayton #LuxuryEstate #Ladue #TownandCountry #Brentwood #Kirkwood #RichmondHeights #Chesterfield #Frontenac #CWE #WebsterGroves #STLHomes #SaintLouisRealEstate #SaintLouisRealtor #MoveToStLouis #STLCity
Share This Post
| Previous Post | Next Post |