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St. Louis Real Estate Search

 

St Louis Short Sales Plummet While REO’s on the Rise

St. Louis short sales accounted for just 1 percent of the overall home sales activity during October in the core market of St. Louis (the city of St Louis and counties of St Louis, St Charles, Jefferson and Franklin), according to the latest data from RealtyTrac.  As the table below shows, Jefferson County had the largest percentage of short sales in October at 7% and St Charles and Franklin both the lowest at 0%.  REO sales (prior foreclosures that are now bank owned) on the other hand, made up 7 percent of St Louis area home sales in October, an increase of 33.3% from a year ago.

St Louis has historically not seen much in the way of institutional investors buying homes in the area, however this has changed of late and, in fact, made up 10% of the overall area home sales a year ago.  In St Charles County, 25% of home sales in October 2012 were sales involving institutional investors but this has fallen to 13% last month, a decline of almost 50%.

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St Louis Area Distressed and Institutional Home Sales for October 2013 

St Louis Distressed Home Sales - October 2013

Data Source: Realty/Trac – Copyright 2013 St Louis Real Estate News

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