ST. LOUIS (KMOX)-After a very hot start, the local housing market has cooled a little in the second half of 2017, but according to Coldwell Banker Gundaker President Jim Dohr, it’s still been a very good year.
Dohr says overall, sales are up 2.7 percent and prices are up 3.7 percent over 2017. He says that means the sales volume, the combination of the two numbers, indicates a healthy market that’s not too hot. “We were expecting about a five percent increase this year, so six-and-a-half is a nice improvement, but it’s not to the level where see prices running out of control, which we see in other parts of the country.”
He says the tightest market continues to be St. Charles County, where it’s still tough for buyers to find homes, “They’ve had to really move quickly because of the low inventory and that low inventory in St. Charles County has driven the prices up five-percent, which is higher than the overall average in the market place.”
The city of St. Louis is also hot, with sales and prices both up seven percent over last year, “It’s about a 14 percent increase in sales volume within the city limits this year compared to the first 11 months of last year, which is very exciting news, I believe.”
When it comes to local home sales, Dohr says, there is no “cold” market.