As we step into January 2024, I’m delighted to share some positive developments in the St. Louis real estate market. Here’s a snapshot of the current landscape:
Stability and Momentum: The market is exhibiting stability with a noticeable momentum. This sets an optimistic tone for the upcoming year, creating a favorable environment for both buyers and sellers.
Single Family Inventory Surge: One noteworthy highlight is the 7% year-over-year increase in single-family inventory. This expansion provides a broader range of options for prospective buyers and contributes to a more balanced market.
Months of Inventory on the Rise: The months of inventory have increased to 1.7 months, marking a 13.3% rise from December 2022. This uptick indicates a healthier inventory level, offering buyers more time and options to make informed decisions.
Appealing Interest Rates: Interest rates have dipped into the low 6s, enticing buyers back into the market. The favorable interest rate environment enhances affordability and acts as a catalyst for increased buyer activity.
Spring Market Outlook: With these positive indicators, the St. Louis real estate market is poised for a promising Spring market. This bodes well for individuals looking to both buy and sell properties.
If you’re considering making a move in the real estate market, whether it’s buying your dream home or selling your current property, now could be an opportune time. I invite you to reach out for a personalized discussion about your specific real estate needs. Whether it’s a phone call or a casual cup of coffee, I’m here to provide insights and guidance tailored to you.
Wishing you a successful and fulfilling real estate journey in 2024!
Best Regards,
Hayley Tomazic
314-229-2009
