End of Year Report: Metro New Construction Median Sale Price Per Square Foot in St. Louis, MO (Jan-Nov 2023)

End of Year Report: Metro New Construction Median Sale Price Per Square Foot in St. Louis, MO (Jan-Nov 2023)

Analysis of New Home Prices in St. Louis, MO: 2023 Year-End Review and 2024 Market Predictions

Introduction:
In our pursuit to provide comprehensive insights into the real estate market, we have meticulously analyzed the median sale prices per square foot of newly constructed houses in St. Louis, MO throughout 2023. Leveraging data from Zillow, we have distilled trends, fluctuations, and key indicators to offer informed recommendations for both buyers and sellers. This report also includes a forecast for the St. Louis housing market in 2024.

Table 1: Monthly Median Sale Price Per Square Foot (US$) – Jan to Nov 2023

MonthMedian Sale Price Per SF (US$)
January191.40
February211.77
March205.36
April207.50
May210.63
June202.11
July208.51
August214.65
September207.98
October214.39
November223.54

Analysis:

Trends and Relationships:

  1. Overall Upward Trend: The data illustrates a general upward trend in median sale prices per square foot throughout the year, indicating a growing market for newly constructed homes in St. Louis.
  2. Seasonal Fluctuations: There are fluctuations in prices month to month, potentially influenced by seasonal factors or variations in supply and demand dynamics.
  3. Highs and Lows:
    • Lowest Price: January recorded the lowest median sale price per square foot at $191.40.
    • Highest Price: November marked the highest median sale price per square foot at $223.54, suggesting potential market growth towards the end of the year.

Table 2: Monthly Percentage Changes

MonthPercentage Change (%)
January
February+10.66
March-3.02
April+0.99
May+1.50
June-3.99
July+3.22
August+3.01
September-3.11
October+2.99
November+4.28

Annual and Quarterly Averages:

  • Annual Average: The average median sale price per square foot for 2023 is $209.33.
  • Quarterly Averages:
    • Q1 (Jan-Mar): $202.50
    • Q2 (Apr-Jun): $206.08
    • Q3 (Jul-Sep): $210.38
    • Q4 (Oct-Nov): $218.97

Closing and Ending Figures:

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