With all the talk lately about many St Louis neighborhoods going from the doldrums to a sellers market many would-be home buyers (and investors) are asking where are the buyers markets are in St Louis? The are looking for the areas where the opportunity still exists to negotiate a better deal and not have to worry about getting caught in a multiple offer situation like we are seeing in some of the hotter markets today. While the upside to a buyer’s market is less competition and perhaps a better price, the downside is there is a reason it’s a buyers market and that could mean your “good price” may not look so good 6 months or a year from now or, if you do time it right, then it may.
The perfect resource for finding a buyer’s market is our Market Action IndexTM which looks at market forces, primarily supply and demand, and then assigns the market a value. Our index runs from 0 to 60 with a 30 being a balanced market. As the index goes above 30, the higher it goes the hotter the market is and the more of a seller’s market it is. The lower the score goes below 30 the colder the market is and the more of a buyers market it is. It’s important to note, that our index has nothing to do with price, so it may be a seller’s market but prices may be flat or even falling, and it could be a buyers market and prices could be rising.
The table below is real-time, meaning it will change as the data changes, but at the time I am writing this, there are only 11 St Louis markets we would consider a buyers market and many of them are not that far into buyer’s market territory. At the top of the list is the 63122 zip area of Des Peres, with a 22.