While most real estate agents don’t like Zillow (read why here…), I believe that Zillow provides very useful information when you look at markets as a whole rather than the price value of a single property.
While Zillow’s data for St. Louis does have a large margin of error (click the link above to learn more), overall trends can offer an insight into how the real estate market is doing.
This chart shows that housing prices in the St. Louis Region did not climb nearly as dramatically as the overall U.S. prices during the housing boom years. Prices peaked both nationally and in St. Louis in 2006-2007.
While St. Louis prices have declined in recent years, just like the climb wasn’t as dramatic as the national bubble, the drop wasn’t as steep either.
Prices overall are flat in St. Louis as we head into 2013. Increased buyer activity will hopefully start pulling up prices as we continue into this year.
This chart will continue to pull current Zillow data for the last 10 years, so bookmark this page and come back anytime you want to check on the state of the St. Louis housing market.