>

St. Louis Real Estate Search

 

St Louis Ranked 4th In Nation For Home Price Inequality

Generally, when we think of inequality, such as income inequality, we perceive it as a bad thing however, when it comes to home prices, perhaps inequality is a good thing! A recent study of home price inequality by Lending Tree resulted in St Louis being ranked as the 4th highest metro area in the nation […]

St Louis’ Millennial Population Shows a Shift From City To St Charles County

The millennial generation, people born from 1981 through 1994, is predicted to outnumber the baby boomer generation sometime in 2019. Given the size of the generation, as well as the fact many are getting married and starting families, the real estate industry is very interested in these young people. Much time is spent trying to […]

Missouri Ranks 9th For Most Restrictive Zoning In U.S.

According to a recent report published by the Cato Institute, the state of Missouri ranks 9th in the nation for having the most restrictive zoning regulations. Many anti-development folks may applaud this fact and look at it as a victory. However, many people in the real estate industry, including yours truly, believe that overly restrictive […]

Mortgage Interest Rates After Peaking In May Are Staying Down Near April Levels

Today, Freddie Mac, through their Primary Mortgage Market Survey® revealed that for the current average interest rate on a 30-year fixed-rate mortgage is at 4.52%. which is just a slight decline from a week ago when the rate was 4.53% and the same as the week before that. After 30-year fixed-rate mortgages hit 4.66%, the […]

St Louis Real Estate Market Update VIDEO – July 2018

The St Louis real estate market continues to be an enjoyable one for sellers who benefit from the low inventory of homes for sale and somewhat of a challenge for home buyers who face stiff competition. The lack of inventory of available listings has contributed to St Louis home sales this year falling a little […]

Top Ten St Louis Metro Cities Where Homes Sold The Fastest In June

It took an average of just 9 days for homes to sell in Columbia, Illinois last month, making Columbia the fastest selling city in the St Louis MSA during June. Waterloo was the other Illinois city that made the list (#4) with the remaining 8 cities being in Missouri. Of the eight cities in Missouri […]

St Louis Home Sales Decline Slightly While Prices Rise

Home sales in St Louis declined a little over 2 percent during the most recent 12-month period from the prior period while the median price of homes sold in St Louis rose 4.4%, according to the latest data from MORE, REALTORS.

St Louis home sales are trending downward slightly as well, as illustrated by the […]

St Charles County Residents Have Best Housing Affordability Threshold In St Louis Area

Nearly 80 percent (78.8%) of the homeowners with a mortgage in St Charles County spend less than 30% of their household income for gross monthly housing costs, according to the U.S. Census Bureau’s latest data. As the table below shows, the 4-largest St Louis area counties are all within the green (good) level for housing […]

Happy Independence Day!

Today, the Fourth of July is the day we celebrate the signing of the Declaration of Independence which took place 242 years ago on July 4, 1776. With the signing of this Declaration, the 13 colonies, or united States, declared their independence from Great Britain and thus, the United States was born!

While I […]

Are iBuyers Changing The Way People Sell Their Homes?

One of the “buzz words” you hear often in the real estate industry today is “disrupter“. To disrupt, by definition, is to “throw into turmoil or disorder, interrupt the progress of (a movement, meeting, etc) or break or split (something) apart.” With dozens and dozens of new startups, new business models and new practices coming […]

St Louis Home Prices And Sales Surge In May Time To Sell Drops

The St Louis real estate market continues to be a strong one and continues to favor sellers in many cases. As the chart below illustrates, the median price per foot that homes sold for in May (green line) shot up in May to $133 from $129 the month before, a 3.1% increase from the month […]

St Louis Home Sales Trend Show Lower Rate of Increase

Homes have sold in the St Louis area at an increasing rate for a little more than 3 years now, however, as the chart below illustrates, the trend is flattening. The chart below, which was created from software our firm developed which compiles data from the MLS, plots homes sales for the past 12 months […]

St Louis Area Population Growth Nearly Flat But Asians and Males on The Rise

The St Louis 5-county core had a total population of 2,027,996 in 2017, up from 2,000,405 in 2010. The population increase os 27,591 represents a very modest population increase of just 1.36% for the 7-year period, according to the latest date from the U.S. Census Bureau. As the table below shows, the number of Asian […]

Neighborhoods Where Homes Sold The Fast Last Month

Anyone in the market to buy a home in St Louis has probably already discovered the good listings are selling quickly and often with multiple offers. While this is not true in all areas and prices ranges, it is certainly true in many. So where are homes selling the fastest in St Louis? Well, the […]

“MLS Exempt” Listings – Is This Approach Good For Sellers Or Just Listing Agents?

Something that has become fairly common today in the St Louis real estate market are “MLS exempt” (or “non-MLS”) listings. Also known in the industry as “Pocket Listings“, this refers to a home that is listed with an agent but is not entered into the MLS. When I first enteered the real estate business, back […]

Home Loan Origination Data Showing Impact Of Interest Rates On Refi’s But Not Home Purchases In St Louis

Mortgage interest rates have been on the rise and hit their highest level in seven years toward the end of May, however, the higher rates don’t appear to be having an effect on the number of people in St Louis obtaining home loans yet. The table below is based upon the latest data from ATTOM […]

St Louis Real Estate Market Update VIDEO – June 2018

There is a lot of activity in the St Louis real estate market! The inventory of homes for sale in St Louis remains low, interest rates have dropped a little over the past couple of weeks, home prices are beginning to soften as we move beyond the peak spring market and demand is still strong.

[…]

Do Home Prices In A Growth Market Like Wentzville Perform Better Than An Established Market?

One of the things that often attract homebuyers to a new or expanding area is the availability of new homes at affordable prices. This is something that is hard to find in older areas that have mature real estate markets due to the lack of available ground and the cost of the ground when it […]

House Flipping Volume In St Louis Down From Year Ago

During the first quarter of this year, there were 600 home “flips” in St Louis or about 8.6% of the homes sold in St Louis, according to data just released by ATTOM Data Research. This rate of flipped homes is up 5% from the prior quarter, however, is down 7% from a year ago. The […]

Home Sales And Price Trends Between St Louis Area Counties

The five counties I refer to as the “St Louis Core Market“, which include the city of St Louis and counties of St Louis, St Charles, Jefferson and Franklin, account for over 90% of the home sales in the 9 Missouri Counties that are part of the St Louis MSA. This is why I typically […]

Why You Shouldn’t Use 12 p.m. As A Deadline When Making An Offer On A Home

When you make an offer on a home, it is normal to include a deadline for the seller to accept the offer by otherwise the offer dies. Deadlines are also used when sellers and buyers make counter-offers and negotiate building inspection resolutions. These deadlines typically include both a date and time. Unfortunately, many real estate […]

St Louis Area New Home Construction In Past 12 Months At Same Pace As Prior 12 Overall; St Charles County Down Nearly 20 Percent Though

As the table below shows, for the most recent 12-months that new home building permit data is available for from the Home Builders Association of St Louis & Eastern Missouri, there have been 4,610 new home building permits issued in the 7 counties they report on. This is just slightly less than was issued for […]

Jefferson & Franklin County Zips Move To Top of Fastest Selling Zip Code List

Typically, Franklin County and Jefferson County home sales stats tend to lag behind their “closer in” neighbors of St Louis and St Charles County, however, when it comes to fastest-selling zip codes, the two outlying counties claim the number 1 and number 2 spots, respectively. As the table below shows, homes in the 63072 zip […]

Mortgage Interest Rates Hit Highest Level In Over Seven Years

Freddie Mac has been tracking average mortgage rates since 1971 through their Primary Mortgage Market Survey® and yesterday it revealed that, as the chart below shows, the average interest rate on a 30-year fixed-rate mortgage was at 4.6%, the highest rate in over 7 years. The last time mortgage interest rates were this high was […]

Great Scott! The Scott’s Are Buying Out St Louis!

According to a report just released by ATTOM Data Research, during 2017, there was a 40 percent increase in homes purchased by people with a family name of Scott from the year before making Scott the family name with the largest increase in home purchases in the St Louis MSA during 2017.

This increase of […]

St Louis Ranked 8th Most Affordable Metro Area To Buy A Home

According to a report just released by HSH, St Louis is the 8th most affordable metro area to buy a home in and one of just 17 metro areas where an income of less than $50,000 per year will buy a median-priced home. The report is based upon data from the 1st quarter of this […]

Should Home Buyers Use Price Escalation Clauses?

St Louis home buyers today face stiff competition from other buyers and often find themselves in a “multiple bid” situations where a seller has several offers to consider. This has led many buyers agents to suggest the use of “escalation clauses” by their clients in order to increase their chances of success. However, not everyone […]

St Louis Foreclosure Rate Drops Over Twenty-Percent In Past Year

The number of St Louis homeowners losing their homes in foreclosure declined to a total of 700 foreclosure actions in the St Louis MSA, according to the latest report from ATTOM Research. Aprils foreclosure rate of 1 in every 1,768 housing units in the St Louis MSA is a decline of 22.82% from the rate […]

Where St Louis Area Homeowners Are Moving

The St Louis metro area has seen some population growth over the last few decades but not nearly as much as many other areas. From 1975 until last year, the population of the St Louis MSA increased 12.3% from 2,500,100 in 1975 to 2,807,338 in 2017. Of the major counties in Missouri that make up […]

St Louis Real Estate Market Update VIDEO – May 2018

The low inventory of homes for sale in many areas and price ranges throughout St Louis continues to plague the St Louis housing market and is causing home sales to run behind last years sales. Find out more, as well as get information on some of St Louis’s best resources for home buyers and sellers […]