Saint Louis home prices hit a record as slower sales and tight supply reshape the market
Sales slowed in May as job growth cooled, but homes still sold quickly and prices posted one of the strongest gains in the country. Even with more homes for sale than a year ago, supply remained tight enough to keep the market competitive.
Sales fall as slower job growth makes buyers more cautious
Home sales in Saint Louis totaled 3,121 in May, down 9.6% from a year earlier. That ranked 39th out of the top 40 U.S. markets for annual sales change. The slowdown came as the local labor market lost steam. Employment growth in the St. Louis area has cooled steadily since 2022, and total employment recently slipped below levels from a year ago. Even so, the unemployment rate stayed low at about 3.6%.
Homes for sale rise, but the market still looks tight
The number of homes for sale rose 15.7% from a year earlier to 9,703, one of the biggest increases among major U.S. markets. Single-family homes led the gain, while townhomes and condos also posted increases. Even with that jump, Saint Louis still had only 3.4 months of supply, well below the national average of 4.9. Homes also sold faster than the national pace, spending an average of 43 days on the market compared with 57 days across the U.S. Homes for sale remained 41.6% below May 2019 levels, showing the market still had a long way to go before supply returned to normal.
Prices climb faster than the U.S. as affordability still stands out
The median home sale price rose 6.6% from a year earlier to $309,000, more than three times the national increase of 1.8%. That ranked Saint Louis third among the top 40 U.S. markets for annual price growth and marked the highest monthly median price on record for the market. Even after that jump, Saint Louis remained more affordable than most large metros, with prices still 21.8% below the national median of $395,000. Single-family homes drove much of the gain, with the median price rising to $319,988. Meanwhile, townhomes have a median price of $315,000, while condos are priced at $195,500.
Saint Louis Sale Prices
The median home sale price in Saint Louis increased by 6.6% compared to the same time last year, while the national median price rose by 1.8%.
Saint Louis ranks third for annual median price change among the top 40 US markets
Saint Louis median home prices rose by $19,100 year over year on a nominal basis in May to $309,000. Meanwhile, the national median home price increased by $7,000 to $395,000.
Saint Louis' median home price is below the nation's
Saint Louis was the 36th highest-priced housing market among the top 40 largest markets last month. The Saint Louis median home price of $309,000 was 21.8% below the national median home price. Saint Louis' median home price in May is the highest observed price for any month in the market.
Saint Louis single-family prices increase
The median price of Saint Louis single-family homes rose by $20,988 over the past year to $319,988, while the median townhome price grew by 2.6%, and the median condo price fell by 5.9%.
Saint Louis Inventory
The number of homes for sale in Saint Louis increased by 15.7% in May compared to the same time last year, while national homes for sale rose by 4.3%.
Saint Louis' inventory of homes for sale increases
Saint Louis homes for sale rose by 1,314 year over year in May to 9,703 homes for sale. Saint Louis ranked fourth, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in May.
Saint Louis homes for sale are below their pre-pandemic levels
Saint Louis homes for sale were below their pre-pandemic levels in the month of May. Saint Louis homes for sale were 41.6% below the May 2019 total of 16,622.
Saint Louis single-family inventory grows
Saint Louis single-family homes for sale grew by 16.2% to 8,473 in May. In comparison, townhomes for sale rose by 5.8% to 382, and condos for sale increased by 14.7% to 848.
Saint Louis Homes Sales
The number of home sales in Saint Louis decreased by 9.6% in May compared to the same time last year, while national home sales dropped by 1.2%.
Saint Louis home sales decrease
Saint Louis home sales declined by 333 year over year on a nominal basis in May to 3,121. For context, 3,454 sales closed in Saint Louis in May 2025.
Saint Louis' annual home sales activity change ranks 39th nationally
Saint Louis ranked 39th for the annual change in home sales out of the top 40 U.S. markets in May on a percentage basis. This year's May decrease of 9.6% compares to the 1.4% year-over-year increase in May 2025.
Single-family sales in Saint Louis are lower than a year ago
Saint Louis single-family sales decreased by 9.0% in May to 2,798. In comparison, townhome sales rose by 1.6% to 126, and condo sales fell by 23.0% to 197.
For questions and commentary about this report:
Blaise Tomazic, Director of Market Analytics at CoStar and Homes.com, based in Saint Louis, is available for interviews to provide expert insights on this data and the broader residential real estate market.
Blaise Tomazic
Director of Market Analytics
Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in Saint Louis during May 2026.
For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.
Definition of Sale Prices
Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.
Definition of Inventory
Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.
Definition of Home Sales
The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.
About the Homes.com Market Analytics Team
The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.
About Homes.com Analytics Data
The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.
The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.