ST. LOUIS, Mo. (KMOX) – A glimmer of hope in the St. Louis area housing market.
The number of homes sold in the city and county jumped nearly 24-percent from May to June and was slightly higher than a year ago.
“We were very surprised to see that June numbers exceeded last year’s figures. We fully expected to see a dip in the numbers from last year based on the tax credits being in place,” says Nate Johnson, President of the St. Louis Association of Realtors.
Yet the home buyer tax credits were a double edged sword. Price tags lag from a year ago when Johnson says those credits gave home values a boost. The average sales price in June of 2010 — $217,000. This June that average price is $194,000. While that’s $30,000 higher than the average home sellers were getting at beginning of the year, Johnson explains that’s a normal market phenomenon. “We’ve got more sales and we tend to have folks who are more established homeowners selling their homes based on moving up into larger ones.”
Overall Johnson says the increased activity and boost in prices this June bodes well for the rest of the year.
Copyright KMOX Radio