ST. LOUIS – A national TV show spotlights the St. Louis region as one of the hottest U.S. real estate markets, praising its blend of affordability and diverse housing options.
St. Louis took center stage during a recent segment on “Power Lunch,” CNBC’s long-running real estate and business-focused TV program.
“Power Lunch” analyzed recent data from real estate company Zillow for the basis of their conversation. According to Zillow, the St. Louis region has…
A median home sale price of $255,000
A median days-listed-to-pending-sale mark of six days (or less than one week on market)
More than half of homes selling above listing price (around 50.2%)
Zillow, for what it’s worth, accounts for several counties in the Greater St. Louis Metropolitan Area beyond St. Louis City in its analysis. Recent states also reflects housing trends in St. Louis, St. Charles, Jefferson, Franklin and Lincoln counties, along with many counties in the Metro East.
Kelly Lassiter, a real estate agent for Gateway Realty Group, joined “Power Lunch” hosts Tyler Mathisen and Kelly Evans to explain the demand in St. Louis real estate.
“Currently we’re running on average about two months inventory,” said Lassiter, whose real estate group represents St. Louis and St. Charles counties. “That makes our market definitely a seller’s market. That’s why many houses on the market are selling so quickly, and many over list price.”
Lassiter says the St. Louis market is attracting out-of-state buyers who want more home space for their money. She shared an example that $1 million could net a 4,600 square-foot home with 4 bedrooms and 4.5 bedrooms in St. Charles County. The featured home also comes with many recent upgrades and sits next to a golf course.
In Miami, she says for comparison, someone on a $1 million budget might only be able to afford a home one-third of that size and with fewer upgrades and amenities.
Lassiter notes that there are two major draws to the St. Louis housing market: Cost-of-living and style.
“The top two draws of our area; Number. 1, far and away, is affordability,” said Lassiter. “We’ve helped people move here from all across the country. We’ve had clients from Arizona, Texas, Florida, West Virginia as far as Hawaii. And to a person, they are blown away by how much house they can get for their money.”
“I think, second, is the diversity styles we offer. You can get a loft in downtown and you’re living in the middle of an urban, upbeat, fun, active area, then you can come a little west, and you can get a house on acreage, a private country estate. We have 55 plus communities, we have lake communities, we have golf communities. St. Louis has just so much to offer.”
