St. Louis, MO Has Emerged As A ‘Refuge’ Market, Perfect For a Frugal Homebuyer

St. Louis is getting fresh recognition as a top metro for savvy buyers. The Realtor.com® November 2025 Housing Trends Report found that buyers nationwide are recalibrating their expectations amid higher mortgage costs and a slower-moving market.

With affordability stretched thin in many larger and more popular metros, more prospective buyers and investors are turning toward “refuge markets”—traditionally budget-friendly cities that still offer attainable home prices.

St. Louis fits the bill perfectly, showing steady demand and solid price gains even as national momentum cools.

St. Louis price trends show why buyers are looking here

According to the report, the median list price in St. Louis reached $291,900 in November, up 0.7% year-over-year. While the city’s pricing remains comfortably below the U.S. median of $415,000, its price-per-square-foot growth reveals the stronger underlying story. PPSF rose 5.0% year-over-year—far above the national PPSF decline of 1.0%.

St. Louis also shows meaningful longer-term strength. Since 2022, PPSF has climbed 7.7%, a gain that reflects consistent demand from cost-conscious buyers seeking alternatives to pricier regions. The city appears in the Realtor.com®  Top 10 refuge markets based on annual PPSF growth, grouped with metros like Grand Rapids, Milwaukee, Cleveland, and Louisville—all places where buyers are finding financial breathing room.

Among nearby peers, Louisville is the closest geographically and another standout refuge market. Louisville posted 3.7% PPSF growth year-over-year and 9.7% growth since 2022. Compared to Louisville, St. Louis continues to offer even more budget-friendly overall home prices while logging a stronger year-over-year PPSF increase.

Additionally, the city’s active listings climbed 11.0% year-over-year, with new listings up 8.9%. Time on market improved by two days compared to last year, showing that buyers are still acting decisively on well-priced homes despite softer national demand.

Midwest list prices rise while national prices slip

National price trends have begun to soften, with the U.S. median list price slipping 0.4% year-over-year to $415,000 and PPSF falling 1.0%. But the Midwest remains the only region where prices are still rising on both measures. In November, the area posted a 1.7% increase in both median list price and PPSF.

St. Louis reflects this regional momentum. While many Southern and Western metros saw homes linger longer on the market, Midwest cities continued to move faster than their pre-pandemic norms. This tighter supply environment has helped support prices, particularly in markets where affordability remains a strong draw. St. Louis’ modest but meaningful price gains align perfectly with this broader Midwestern pattern.

Inventory grows, but Midwest supply still trails pre-pandemic levels

Inventory rose for the 25th straight month nationally, up 12.6% year-over-year, though listing growth continues to moderate after peaking in late spring. Every region posted annual inventory gains, with the Midwest seeing a 10.3% increase. Even so, Midwest supply remains 32.9% below pre-pandemic norms—a shortfall that helps explain why buyer activity remains fairly strong in accessible metros like St. Louis.

Delistings are also putting pressure on inventory across the country. Roughly 6% of active listings have been pulled from the market each month since June, and October delistings rose 37.9% year-over-year—the highest rate since Realtor.com began tracking the metric. These trends highlight how sellers are responding to tempered buyer activity and recalibrated expectations.

St. Louis finds itself in a favorable position within this environment: demand is steady, supply is gradually increasing, and prices remain within reach for buyers seeking affordability without sacrificing access to a major metro’s amenities.

This article was produced with editorial input from Dina Sartore-Bodo and Gabriella Iannetta.