As we transition from August to September 2024, the St. Louis real estate market reflects a shift in buyer sentiment, with more price reductions becoming common, even in sought-after neighborhoods like Clayton and the Kirkwood. Despite interest rates reaching a 22-month low, buyers are increasingly cautious, many choosing to remain on the sidelines. The sense of urgency that dominated earlier in the year has softened, as potential buyers wait to see how the market evolves. Homes in A+ areas are still commanding interest, but even these properties are seeing more strategic pricing. Sellers, aware of this shift, are adjusting expectations while remaining hopeful that fall will bring a resurgence of activity as rates stabilize and the market rebalances. The market feels like it’s at a crossroads, and all eyes are on the coming months.
- Hayley Tomazic
314-229-2009
