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St. Louis Real Estate Search

 

St. Louis Home Sales in 2009 show signs of bottom

Dennis Norman

For the St. Louis area 2009 marked another year of “bad” records for the housing market; record numbers of foreclosures, mortgage delinquencies as well as sales numbers and prices lower than we have seen in several years.  However, as I compiled St. Louis area home sales data for 2009 and compared it to the prior two years I realized this is some positive news.  It appears we are perhaps seeing the bottom of the market and a flattening of the downward trends.  

Unfortunately as our national debt balloons out of control, we continue to see double-digit unemployment and for us in St. Louis a continued trend of an inability to attract new companies and jobs to the area, the housing market could quickly take a turn for the worse, but for now lets bask in the glory.

The data I compiled is for the city of St. Louis and counties of St. Louis, St. Charles, Jefferson and Franklin, and is based upon sales data obtained from the local MLS provider, Mid-America Regional Information Systems (MARIS). 

Here are the highlights from my report:

  • There were 20,717 homes sold in 2009, down 1.81 percent from 2008 and down 14.67 percent from 2007
  • The median sales price of homes sold in 2009 was $142,000, down 5.33 percent from 2008 adn down 12.35 percent from 2007
  • The average sales price of homes sold in 2009 was $170,303, down 8.84 percent from 2008 and down 16.62 percent from 2007.
  • The time it took to sell a home in 2009 was an average of 82 days, down 10.87 percent from 2008 and up 1.23 percent from 2007.

st louis home sales 2009 vs 08 and 07

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2 comments to St. Louis Home Sales in 2009 show signs of bottom

  • Sales may pick as the tax credit deadline grows closer. Builders -even custom builders- are also lowering their prices. Time will tell but I have faith that things will slowly get better

  • Dennis Norman

    Elizabeth,
    I agree with you…we saw an increase in sales in October and November as consumers raced to be the Nov 30th expiration of the credits…the extension of the credits has taken the pressure off buyers, but as the April 30th date draws nearer I think we will see the pace pick up again…Let’s just keep praying that the economy can hang in there and not tank under the tremendous debt our country is creating…