A 2024 Seller’s Guide to Home Values in St. Louis

Wondering what your home is worth in the St. Louis market? Whether you’re thinking about selling soon, aiming to drop PMI, or just keeping an eye on the local housing market, understanding your home’s value is key for making informed decisions about your next steps.

In this article, we’ll explore the latest home value trends in the Gateway to the West, offer tips on obtaining an accurate home value estimate, and share straightforward  strategies proven to enhance your property’s worth. Plus, we’ll introduce you to tools that can help you maximize the value of your St. Louis home when it comes time to sell.

Editor’s note: This post is for educational purposes and is not intended to be construed as financial advice. HomeLight always encourages you to consult your own advisor.

Current home values in St. Louis

Since 2020, the median home value in the St. Louis metro area has climbed over 40%. In June 2020, the typical St. Louis home sold for $235,300. Fast-forward to June 2024, and that value has increased to almost $330,000, according to data from St. Louis Realtors.

St. Louis currently ranks 45th on the FHFA’s House Price Index list of Top 100 Metro Areas, which tracks over 400 cities across all 50 states. While recent reports have alluded to the decline of the St. Louis’s downtown, city leaders are taking action to address the prevalence of vacant office buildings and storefronts, with talks of creating more residential opportunities.

“The future of downtown is going to be a lot more mixing of uses. It’s got to be a lot more residential. We’ve already started to see that,” said Kurt Weigle, senior vice president and chief downtown officer at Greater St. Louis, Inc., in an article by Fox 2 KTVI.

The table below illustrates how much home prices have increased in the St. Louis region over the last five years:

Year
Median home price
Percent change year-over-year

2024 (June)
$329,900
+6.8%

2023
$311,100
+3.7%

2022
$300,000
+11.1%

2021
$271,300
+17%

2020
$235,300
+0%

Source: St. Louis Realtors

This dramatic increase isn’t unique to St. Louis; it’s a phenomenon occurring across the entire country. According to the S&P CoreLogic Case-Shiller National Home Price Index, housing prices in the United States have jumped by over 50% since the beginning of 2020.

This trend has benefitted most homeowners, allowing them to build up significant equity in their properties. They can then use this equity for various financial purposes, from investing in new properties and renovating existing homes to paying off debts and even saving for retirement. Earlier this year, ICE’s Mortgage Monitor revealed that the average U.S. homeowner with a mortgage currently boasts about $299,000 in equity.

For comparison, the table below shows median home prices in suburbs surrounding St. Louis:

City
Median home price
Distance from St. Louis

Olivette
$630,000
14-18 min (12.1 miles)

Chesterfield
$546,900
22-28 min (22.3 miles)

Glendale
$515,000
16-20 min (12.3 miles)

Ballwin
$366,500
26-35 min (22.2 miles)

Clayton
$659,700
12-16 min (8.6 miles)

Ladue
$1,116,500
16-20 min (12.8 miles)

Wildwood
$559,100
35-50 min (29.7 miles)

Clarkson Valley
$912,000
26-35 min (23.7 miles)

Des Peres
$680,000
18-24 min (17.6 miles)

Brentwood
$270,000
14-20 min (9.5 miles)

Home value averages of multiple public transaction sites

Typical travel times 8 a.m. midweek

In the next section, we’ll introduce several helpful tools to estimate the value of your St. Louis-area home.