Real Estate Inventory Goes Down in Time for Spring Market

ST. LOUIS (KMOX) – It happens every spring – you look around and start seeing more and more ‘for sale’ signs in yards.

It is a sellers’ market this spring as the inventory of houses for sale is down. Median home prices are up about 2 percent from last year.

Ed Vogt, Vice President of Mortgages for Central Bank of St Louis says the area has seen its share of underwater mortgages but the market has stabilized.

“The way to describe the St. Louis Market is somewhat of a balanced market. We’re not gonna take advantage of a huge upswing in values and we’re not gonna get hurt as bad when there’s a substantial decrease in values,” he says.

And Vogt says if you definitely want to move this summer,consider this: the average amount of time a home stays on the market before it’s sold is 109 days.

“109 days from today is right in the early part of summer, so if you want to sell your house and move this summer, now is the time to list your house,” he says.

Vogt suggestions shopping around for a realtor before selling your house, making sure to find someone best suited for your goals.

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