Home Prices Keep Rising: What It Means for St. Louis Buyers & Seller

A new report from the National Association of REALTORS® shows that home prices are still on the rise nationwide—and St. Louis is one of the standout markets. According to NAR’s latest quarterly data, 77% of the 230 metro areas they track saw home prices increase in the third quarter, up from 75% the previous quarter. Nationally, the median price for a single-family existing home reached $426,800, a 1.7% jump from a year earlier. 

Here’s where it gets especially interesting for us: the St. Louis, MO–IL metro area landed in the top 10 markets for fastest year-over-year price growth, with prices up 7.9% in the third quarter. We’re right alongside markets like Trenton, NJ and Lansing, MI, which also posted some of the strongest gains in the country.

NAR’s chief economist, Lawrence Yun, notes that the sharpest price increases are happening in markets with tight inventory—often in the Northeast and parts of the Midwest where homes are still relatively affordable. At the same time, wealth from homeownership continues to grow: over the last five years, homeowners nationwide have gained an average of about $140,900 in housing wealth, and cash buyers now account for about 30% of all home sales. 

Of course, rising prices are a mixed bag. For sellers, this is good news: your equity has likely grown more than you realize, and the right pricing and marketing strategy can help you maximize that gain. For buyers, higher prices and affordability challenges mean you need a smart game plan, not guesswork. Mortgage payments on a typical single-family home are still higher than a year ago, and first-time buyers are feeling the squeeze most.

This is where my team and I come in. At The Krista Hartmann Home Team, we specialize in helping St. Louis–area homeowners and buyers navigate this exact kind of market. If you’re a homeowner, we can provide a custom, data-driven valuation of your property—using local sales, neighborhood trends, and current buyer demand—to show you what your home could realistically sell for today. If you’re a buyer, we’ll help you understand true value, not just list price, and craft a strategy that fits your budget and goals.

If you’re curious what this market has done to your home’s value—or what it would take to buy in today’s St. Louis market—reach out to The Krista Hartmann Home Team for a no-pressure valuation and strategy session. Your next move deserves real numbers, not headlines.