After bottoming out in late 2011, home prices in St. Louis, Missouri are still going up, says Zillow. Home values showed a 0.3 percent increase to $97,600 in the 12 months ending November 30. This represents the average value of homes that were both on and off the market.
Compton Heights boasted the highest average values of $277,100, an increase of 0.8 percent. Walnut Park East showed the lowest average values of $42,000, an increase of 16 percent.
The highest percentage increases of 16.5 percent went to Mount Pleasant to an average $67,900. The worst decrease was the 16.3 percent in Baden to $42,600.
The median list price was $119,900. The higher median sale price of $140,700 indicated a buyer’s market.
Approximately 46.9 percent of St. Louis residents owned their own properties,. Average property taxes ran $1,244 per year, which was less than half the $3,025 average for all homes in the country.
The median square footage was 1,395. About 26 percent of the homes had 1,000 square feet or less. Only 5 percent showed 3,600 or more square feet.
Homes were built, on average, in 1915. About 32.1 percent of the homes were constructed between 1900 and 1919. Only 2.7 of the houses were built in the 21st century.
The median household income for the city was $27,156 per year, compared to a national average of $44,512.
Despite rising prices, the cost of St. Louis homes are still affordable to buyers. If you want to take advantage of this market by selling your property, please contact us.