The St. Louis region is being recognized as one of the hottest U.S. real estate markets on a national TV show, applauding its mix of affordability and diverse housing options.
Recently, St. Louis was featured on CNBC’s long-standing real estate and business-focused TV program, “Power Lunch.” The show analyzed data from real estate company Zillow to fuel their discussion. Zillow reports that in the St. Louis region…
- The median home sale price is $255,000
- Homes typically sell within six days of being listed
- Over half of homes are selling above the listing price (approximately 50.2%)
Zillow’s analysis covers multiple counties in the Greater St. Louis Metropolitan Area, including St. Louis City, St. Charles, Jefferson, Franklin, Lincoln, and several counties in the Metro East area.
Kelly Lassiter, a real estate agent with Gateway Realty Group, appeared on “Power Lunch” to discuss the demand in the St. Louis real estate market.
“We currently have about two months of inventory on average,” Lassiter stated. “This places our market firmly in the seller’s favor, resulting in quick sales and homes often being sold above the asking price.”
Lassiter pointed out that the St. Louis market is attracting out-of-state buyers seeking more space for their money. For instance, a $1 million budget could buy a 4,600 square-foot home with 4 bedrooms and 4.5 bathrooms in St. Charles County, compared to Miami where the same budget may only provide a home one-third of that size with fewer upgrades.
One of the key appeals of the St. Louis housing market, according to Lassiter, is its affordability and variety of styles.
“The top two draws of our area are affordability and the diverse styles we offer,” Lassiter explained. “You can find a loft in downtown for an urban experience or a house on acreage for a private estate. The range of options in St. Louis, from 55 plus communities to lake and golf communities, is truly exceptional.”
