St. Louis Housing Market Trends and Why Now is the Time to Move
The pandemic has made the property purchasing and selling process a difficult one across the nation. In our area of the country, the St Louis housing market is no exception.
Real estate inventory is at a premium, both in cost and availability. While there are beautiful homes hitting the market, they aren’t active for very long, and the increased demand is leading prices to skyrocket. This is a positive for sellers looking to move out of the area or to a new home in the community, but buyers have a had a tougher time. Luckily, it seems there could be some relief in sight.
No matter which end of the real estate spectrum you are on, the need for a professional moving company is a necessity for everyone. Fast selling houses mean families vacating need to have a partner for moving lined up for storing their household goods if they cannot move immediately into another home. Meanwhile, those lucky enough to purchase a property have also relied on movers as they may not have anticipated relocating as quickly, but jumped at an opportunity to buy.
Here’s a look at recent St. Louis housing market trends and what we expect to see, moving forward.
Residential Real Estate Continues to Climb
When it comes to home purchasing, buyers need to move quickly.
According to a report, St. Louis housing market trends show that on average, homes in the area receive 3 offers and sell in about 12 days (with pending offers after 5 days.) Those homes are also sold at roughly 7% above the listing price.
The same report indicates that as a seller’s market, more buyers are seeking places to live than there are active homes available on the market.
Moving costs are also on the rise, with new homes being sold every day, increasing the demand for moving services in a labor market where wages are rising along with the price of fuel.. Early in the pandemic, moving services had slightly declined, nationwide, the economic rebound is expected to grow the moving industry by 5.4%.
For sellers and buyers, it’s important to partner with a moving company that can assist you with comprehensive services during a period of high demand. Cord Moving and Storage has the professional resources available to handle your residential move. We are also a 102-year old company that is dedicated to your health and completing the moving process with special COVID-19 safety protocols.
Relocate from or to to your St. Louis area home and make it easy on your family to move to your dream residence by partnering with the dedicated team at Cord.
The Market is Slowly Shifting Back to Buyers
There is no doubt that the demand for housing in the U.S. will remain hot for some time, however, some experts are seeing a slight return to normal.
Pandemic-related fluctuation in the St. Louis housing market seems to be becoming a bit less competitive. According to a report, there are a few less home offers and some homes are not selling in their first week on the market.
First time home buyers make up nearly 40% of buyers, meaning there may be a bit more of an opportunity in the coming months for these people to find their ideal residences.
Additionally, the struggle to buy property has caused some formerly interested parties to leave the market, opening the door for others to purchase a home.
Cord Moving and Storage is here to support home buyers of all types with a wide variety of professional moving services. Cord can help, if you:
- Need a local relocation down the road to Hi-Pointe.
- Only require assistance with a small move, relocating specialty pieces of furniture to your recently purchased historic home in the Skinker DeBaliviere neighborhood.
- Are planning for an international move to St. Louis from another part of the world.
A Century of Professional, Affordable Moving in St. Louis
For more than 100 years, the team at Cord Moving and Storage has provided expert moving services at a value. We closely serve many families moving to and from the St. Louis area, and can assist you with your needs. In a time when the St Louis housing market is continuing to change, you can be certain that we will provide moving solutions at fit your schedule and specifications.