This year, the St. Louis housing market is expected to be a competitive seller’s market with available homes receiving multiple offers. Most homes are only on the market for five to 20 days, depending on the liveability, style, features, and location.
There has been low housing inventory available for St. Louis’s market demand which has driven the prices up. But, there is some indication that the market is starting to swift compared to what we have seen recently.
As residential title experts in St. Louis, Investors Title Company is committed to keeping you informed about the state of the housing market. Whether you’re a buyer, a seller, or an agent, take a look at what 2022 has in store.
St. Louis Housing Pricing Forecasts
St. Louis’s available housing inventory is sitting at roughly 1.2 months of demand. While it’s too early to tell and the statistics are not showing a drastic rise in inventory, we could be seeing a few more new listings than the current market demand but not a significant rise. These listings will probably follow the recent price appreciation trends which are very promising for both buyers and sellers.
Since 2011, market trends show that home value in St. Louis County has increased by 62%. This consistent rise in real estate price appreciation means we expect to see a 12% increase in the price of real estate in 2022.
More specifically, Zillow predicts metro homes will rise 12.6% as they have gone up 14.2% over the past year. County home value rose 13.5%, and city value rose 12.5%. All areas of the St. Louis metropolitan real estate market will continue to rise in the next 12 months.
With prices rising, it’s better to purchase sooner rather than later. And, looking at 2021’s trends, purchasing real estate property now suggests continued price increases for a sound investment whether for a ready-to-live-in home, a fixer-upper, or a rental property.
Have you thought about investing in real estate for renting purposes? St. Louis is in one of the top 100 cities for renters, so rental opportunities in St. Louis are quite large. In the St. Louis market alone, 60% of residents rent. Additionally, there are multiple universities scattered throughout the St. Louis area with students which provides another great rental opportunity for a good return on your investment.
Making a Move to St. Louis
St. Louis is a family-friendly city with a rich history. The iconic Gateway to the West arch sits right on the banks of the Missouri River. Known for BBQ and craft beer, St. Louis offers a metropolitan atmosphere with unique characteristic neighborhoods scattered throughout the metropolitan area.
St. Louis ranks among one of the best places to live and the cost of living here is affordable. The job market encompasses global companies, thriving startups, cutting-edge healthcare, and more. With increased demand and popularity, the St. Louis housing market is competitive.
The St. Louis housing market encompasses the Illinois and Missouri metropolitan areas. The houses units vary between apartments, both complexes and home converted apartments, as well as duplexes and row houses, but the most standard housing unit is a single-family home. Investing in the right real estate property in the right area at the right time is a big decision.
How ITC Can Help Your Real Estate Purchase or Sale
Purchasing or selling a new home in a seller’s market can be stressful and overwhelming. Investing in or selling real estate is a major decision. Our team at Investor’s Title Company is here to help you with title insurance and ensure smooth title transactions during the closing process.
Our offices are located throughout St. Louis for your convenience, but it also allows our staff to be familiar with the different areas of St. Louis to help you make the right decision on your investment.
Ready to begin? Contact our title experts today.