Are you trying to make sense of St. Louis housing headlines that seem to shift every season? You are not alone. Whether you plan to buy or sell soon, it helps to understand three simple signals that say a lot about the market: inventory, days on market, and list-to-sale price. When you know how these work, you can time your move and set smart expectations.
In this guide, you will learn what each metric means, how to read them in a St. Louis context, and where to find reliable local numbers when you need them. You will also get practical tips to use these insights for your next purchase or sale. Let’s dive in.
Why these three metrics matter
Inventory, days on market (DOM), and the list-to-sale price ratio help you gauge how competitive the St. Louis market feels right now. These indicators moved quickly during 2020–2023 due to shifting mortgage rates and tight supply, then showed signs of stabilization in 2024. The big takeaway is simple: the overall metro tells one story, and your neighborhood and price tier can tell another.
Here is the rule of thumb many pros use:
- Months of supply around 5 to 6 is considered balanced.
- Lower supply and shorter DOM mean more competition for buyers and more leverage for sellers.
- Higher supply and longer DOM mean more options for buyers and longer marketing times for sellers.
Inventory explained
Inventory describes how many homes are available and how long that supply might last at the current pace of sales.
What months of supply means
Months of supply is the number of months it would take to sell all current listings at the recent sales pace. The basic formula is active listings divided by the average monthly closed sales. Around 5 to 6 months is a balanced market. Less than 5 months usually favors sellers. Less than 2 months is considered very tight and often leads to faster sales and stronger pricing.
Two quick caveats:
- Months of supply can look very different across price bands, property types, and neighborhoods.
- Active listings are a snapshot and can be skewed by duplicate entries or stale listings.
How to read inventory in St. Louis
St. Louis is a mature metro with a wide mix of housing, from historic city neighborhoods like Central West End, Soulard, and Benton Park to inner suburbs such as Maplewood, Kirkwood, and Webster Groves, and out to larger suburban areas like Chesterfield, Ballwin, Ladue, Wildwood, and St. Charles County. Entry-level homes often see the tightest supply. Mid-market neighborhoods usually reflect the broadest activity and most realistic pace. Luxury segments tend to carry more months of supply and longer timelines.
Remember that new subdivisions and local zoning shape supply in the suburbs. In the city core, micro-location and property condition can make similar homes perform very differently.
Days on market in plain English
Days on market (DOM) is the time between when a home is listed and when it goes under contract or closes, depending on the reporting method. Median DOM is often the most useful number because it reduces the effect of outliers.
Shorter DOM signals a faster market. Very short DOM, sometimes just a few days, can mean multiple offers. Rising DOM can reflect slower demand, seasonal cooling, or pricing that needs an adjustment. Be aware that some MLS systems reset DOM when a listing is withdrawn and re-listed. Look for cumulative DOM when possible.
Seasonal patterns in St. Louis
DOM typically lengthens in late fall and winter and shortens in spring. If you see DOM rising from November to January, that may be seasonal. Focus on year-over-year comparisons or multi-month medians to see the bigger picture.
List-to-sale price ratio
The list-to-sale price ratio tells you how close sale prices come to asking prices. It is the sale price divided by the list price, shown as a percentage. Some reports use original list price. Others use the final list price after reductions. Be consistent in what you track.
- Above 100 percent suggests sales above asking, often due to multiple offers or underpricing.
- Around 98 to 101 percent signals that the market is settling close to list.
- Below 98 percent can indicate more room for negotiation.
Use the ratio with other metrics
No single number tells the whole story. Combine list-to-sale ratio with months of supply to judge market balance, and use DOM to estimate how fast a typical listing moves. Then layer in your property type, price tier, and neighborhood for a realistic read on your situation.
What shapes St. Louis trends now
Recent years brought low inventory, shifting mortgage rates, and uneven demand across price ranges. Here are the drivers that matter most.
Mortgage rates and competition
Mortgage rates cooled buyer demand in 2022 and 2023, then eased at points in 2024. Changes in rates affect affordability and can alter the pace of offers almost overnight. You can track weekly averages in the Freddie Mac Primary Mortgage Market Survey.
New construction and permits
The supply pipeline depends on lots, zoning, materials, and labor. In St. Louis suburbs, new subdivisions can absorb demand at certain price points, while infill projects shape parts of the city. To see early signs of new-home supply, check the U.S. Census Building Permits Survey.
Jobs and population trends
Employment and migration drive long-term housing demand. Stable job growth usually supports steady buyer activity, especially in the mid-market. For a quick pulse on employment, see the Bureau of Labor Statistics Local Area Unemployment Statistics.
How to apply this to your move
Reading the market is useful, but making it actionable is better. Use the steps below to tailor a plan to your goals.
For buyers
- Nail down your price tier. Entry-level homes often move fastest, so be ready to tour new listings within a day or two.
- Watch neighborhood-specific DOM and list-to-sale ratios to set expectations for offer strength and timing.
- Lock your rate when favorable. Rate movement can shift competition quickly.
- Focus on move-in readiness if you want speed. Homes that are agent-ready tend to sell faster and closer to list price.
For sellers
- Price for your lane. Use months of supply and DOM for your neighborhood and price band to set an asking strategy.
- Make your home market-ready. Staging, minor repairs, and standout photography can compress DOM and protect your price.
- Expect seasonality. If you are aiming for speed, plan around the spring surge when buyer traffic typically increases.
- Measure progress. If showings are steady but offers lag, watch DOM and feedback to decide on a tactical price adjustment.
Where to get current numbers
When you want up-to-date figures for your neighborhood or price range, start here:
- The St. Louis Association of REALTORS publishes monthly market statistics with county and neighborhood views.
- Your agent can pull detailed reports from the local MLS, historically served by MARIS, including active listings, cumulative DOM, and absorption by price tier.
- For national context on existing-home sales and market commentary, review NAR Research.
- Track weekly rate trends through Freddie Mac PMMS.
- For early signals on new-home supply, check the Census Building Permits Survey. For employment context, see BLS LAUS.
St. Louis examples to watch
- City neighborhoods: In places like Central West End, Soulard, and Benton Park, renovated homes in desirable blocks can draw faster offers and tighter list-to-sale ratios than older homes that need work. Condition and presentation matter.
- Inner suburbs: Maplewood, Kirkwood, and Webster Groves often reflect mid-market activity with varied inventory by price tier. Months of supply can flip quickly when a wave of listings arrives each spring.
- West and southwest suburbs: Chesterfield, Ballwin, Ladue, Wildwood, and parts of St. Charles County see different dynamics based on new subdivision activity and lot availability. New construction can add options at specific price points while older neighborhoods rely more on resale cycles.
A simple plan to stay ahead
- Define your price tier and property type.
- Pull months of supply, median DOM, and list-to-sale ratio for your target neighborhoods.
- Note seasonality and any new construction nearby.
- Watch mortgage rates weekly and confirm your budget with your lender.
- Adjust strategy every two weeks based on showing activity and new comps.
Ready to put this into action with local guidance and a production-backed plan for pricing, presentation, and timing? Reach out to the Laura Sanders Team to align your next move with real-time St. Louis trends. Get your free home valuation.
FAQs
What is a balanced housing market in St. Louis?
- A balanced market is typically around 5 to 6 months of supply, which means neither buyers nor sellers have a significant advantage.
How do days on market affect my St. Louis sale price?
- Longer DOM can reduce urgency and may require a price or presentation adjustment, while shorter DOM often reflects stronger demand and limited negotiation room.
What does list-to-sale ratio over 100 percent mean in St. Louis?
- It means homes in certain segments are selling above asking on average, often due to multiple offers in highly desirable pockets or strategic underpricing.
Where can I find neighborhood DOM and list-to-sale data for St. Louis?
- Ask your agent for MLS reports and check the St. Louis Association of REALTORS monthly statistics for county and neighborhood trends.
Does a rise in DOM always lead to lower prices in St. Louis?
- Not always; DOM can rise due to seasonality or inventory changes. Prices tend to adjust only when list prices are reduced or buyer offers consistently trail list price.
