This week's overview of the the Chesterfield MO Real Estate Market.
The median list price in the Chesterfield MO real estate market this week is $562,450. The 114 properties have been on the market for an average of 138 days.
Inventory is lightening and days-on-market is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices in the Chesterfield MO real estate market.
Supply and Demand
Home sales continue to outstrip supply and the Market Action Index in the Chesterfield Mo real estate market has been moving higher for several weeks. This is a Seller's market so watch for upward pricing pressure in the near future if the trend continues.
Median Price
This week prices bumped up a bit but the trend of recent weeks is generally downward. The Market Action Index is a good leading indicator for the durability of this trend in the Chesterfield MO real estate market.
Quartile Prices
Prices have generally settled at a plateau in the Chesterfield MO real estate market, although Quartile 1 has been trending a bit downwards in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across the board move from these levels.
Price Per Square Foot
Despite recent falling prices, the price per square foot has stayed reasonably flat. This implies that there's a portion of the market being priced at a premium in the Chesterfield MO real estate market.
Inventory of Properties Listed for Sale
Inventory in the Chesterfield MO real estate market has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market to gauge whether buyer interest is changing with the supply.
Market Action Index
The Chesterfield, MO real estate market is currently in the Seller's Advantage zone (greater than 30). The 90-Day Market Action Index stands at 37.63 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.
Days on Market
The properties have been on the Chesterfield MO real estate market for an average of 138 days. Half of the listings have come newly on the market in the past 94 or so days.
