For the last five years running, homes in St. Louis County have been selling for increasingly higher prices, according to John Schink of Deerwood Realty.
The average sale price in for a single family home 2014 was $210,323, followed by averages of $219,121 in 2015, $223,503 in 2016, $231,060 in 2017, and $245,041 in 2018. This 16.17 percent increase in average sale price for single family homes in St. Louis suggests a move from a market that solidly favored buyers to a more neutral or seller-friendly market. “The demand for housing in St. Louis County is really strong, and we look for that to continue through 2019,” said John.
While the overall trend toward higher average prices held true throughout St. Louis County, not every community saw consecutive growth. Bridgeton, Manchester, Crestwood, and Maplewood saw similar trends of overall growth, but also had some years during the 2014-2018 period that did not see average price increases.
The difference was small in Bridgeton, Manchester, and Crestwood (for example, Crestwood going from an average single-family home price of $265,936 in 2017 to an average of $263,750 in 2018). However, Maplewood saw a more significant drop after 2016, going from an average sale price of $199,991 in 2016 to an average of $177,123 in 2017.
The 5-year consecutive growth trend did hold true for the communities of Affton, Ballwin, Brentwood, Ellisville, and Florissant, with the largest gains coming in Affton, Ellisville, and Florissant. Here are the average sale prices for single-family homes in each St. Louis community that saw consecutive growth:
- Affton – Grew from an average of $135,117 in 2014 to an average of $259,572 in 2018.
- Ballwin – Grew from an average of $246,767 in 2014 to an average of $293,448 in 2018.
- Brentwood – Grew from an average of $291,268 in 2014 to an average of $345,725 in 2018.
- Ellisville – Grew from an average of $248,983 in 2014 to an average of $324,386 in 2018.
- Florissant – Grew from an average of $95,979 in 2014 to an average of $124,477 in 2018.
The overall numbers and consecutive growth in sale prices for communities throughout St. Louis County seem to indicate a move from what was a solid buyer’s market toward a more neutral market that favors neither buyers nor sellers.
Certainly the conventional wisdom about summer being the best time to sell a home and winter being the best time to buy has held true in St. Louis, with the highest average sale prices being recorded in either June or July for each of the last five years.
Part of the reason for the increase has been low inventory putting upward pressure on home prices, but that trend does seem to be slowing somewhat. However, we’re approaching the hottest months of the year for both temperatures and the real estate market, so it remains to be seen what 2019 will bring in terms of average sale prices in St. Louis.
About Deerwood Realty
Deerwood Realty is a premier residential real estate brokerage offering boutique services for St. Louis home buyers and sellers looking for real estate help with a personal touch. Deerwood’s comprehensive services and relationship-focused approach ensure that all of their clients are able to achieve their real estate goals, whether that’s selling a property, purchasing a dream home, or choosing the ideal real estate investment location. At Deerwood Realty, every decision starts with a single question: “Is this the best way to serve our clients?” For more information, visit www.DeerwoodRealtystl.com.