By Dennis Norman, on March 1st, 2018 Three of the fastest selling cities in the St Louis metro area are on the Illinois side of the Mississippi including the number one city on the list, Columbia. As the table below shows, homes that sold in Columbia Illinois during the past 30 days were on the market an average of just 21 days before they sold. Four of the ten-fastest selling cities saw homes sell in less than a month with the remaining six cities averaging just over a month. Clicking on the table will take you to the complete list with live data.
St Louis’ Fastest Sold Continue Reading →
By Dennis Norman, on February 27th, 2018 The real estate market in St Louis is off to a good start for 2018 so far! Find out more, as well as get information on some of St Louis’s best resources for home buyers and sellers in our just-released market update video. In our MORE, REALTORS, 5 Minute St Louis Real Estate Market Update video below, you can quickly and easily get the latest information on home prices, home sales, trends and more for the entire St Louis area!
Sell Your Home For The Highest Price In The Least Amount of Time! See how- STLSellersAdvantage.com Save Continue Reading →
By Dennis Norman, on February 23rd, 2018 New home construction in the St Louis area is off to a good start for 2018 with a total of 326 building permits for new homes being issued during January for the 7-county St Louis area reported on by the Home Builders Association of Eastern Missouri. This permit activity in January represents an 11% increase over the activity in January 2017 when there were 293 new home permits issued. During the month of January 2018, 4 of 7 counties saw an increase in building permits from January 2017 (Jefferson County +26%, Franklin County +143%, Warren County +1%, St Louis City Continue Reading →
By Dennis Norman, on February 21st, 2018 Located at 13570 St Charles Rock Road in Bridgeton Missouri is a 200-acre landfill known as the West Laek Landfill Superfund site which has been the center of controversy and a source of frequent headlines over the past few years. The reason it has garnered so much attention is becuase of health concerns related to radioactive waste at the site. The source of the radioactive waste goes back to 1973 when soil that was mixed iwth leached barium sulfate was used to cover the landfill. The radioactive waste came from a nearby storage and processing facility located at 9200 Latty Continue Reading →
By Dennis Norman, on February 9th, 2018 The percentage of homeowners with a mortgage in the St Louis MSA that were seriously underwater in the last quarter of 2017 was 13.8%, about half the rate from 4 years earlier, according to data just released by ATTOM Data Solutions. For this report, a homeowner is considered “seriously underwater” when the total of their home mortgage(s) is equal to, or greater than, 125% of their home’s current value.
Also shown on the table below is the percentage of equity-rich homewners in the St Louis MSA. An “equity-rich” homeowner is at the other end of the spectrum from an underwater Continue Reading →
By Dennis Norman, on February 4th, 2018 Last year was a good year for the St Louis real estate market evidenced by increased home prices and sales in all counties in and around St Louis from the year before, with the lone exception being Franklin County which saw a decline in both home sales and prices from the year before.
As the table below illustrates, the St Louis MSA as a whole saw median home prices increase 2.99% in 2017 from the year before and home sales increase 4.14% during the same period. Date for the other counties is shown as well by clicking on the table.
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By Dennis Norman, on January 31st, 2018 In spite of the strong real estate market in 2017 in St Louis, there were cities in St Louis where home’s sold slower than in others. As the counter to the previous article published, where we listed the fast selling cities, today we will identify the St Louis towns and cities where it took the longest to sell a home in 2017.
Where in St Louis did homes sell the slowest in 2017?
As our table below shows, Edgar Springs, a small town in Phelps County MO with a population of just over 200, was Continue Reading →
By Dennis Norman, on January 30th, 2018 The St Louis area real estate market had a good year in 2017 with strong sales and sustainable home price growth throughout the area. One of the challenges to the market was a result of a low inventory of homes for sale which forced home buyers to move quickly when a new listings hit the market. This resulted in homes selling very quickly in popular areas and areas of high demand.
Where in St Louis did homes sell the quickest in 2017?
As our table below shows, Grantwood Village, a quaint Village with about 900 residents Continue Reading →
By Dennis Norman, on January 23rd, 2018 The St Louis real estate market closed out 2017 with an increase in both home sales and prices from the year before, both at a healthy and, hopefully, sustainable rates. Find out more, as well as get information on some of St Louis’s best resources for home buyers and sellers in our just-released market update video. In our MORE, REALTORS, 5 Minute St Louis Real Estate Market Update video below, you can quickly and easily get the latest information on home prices, home sales, trends and more for the entire St Louis area!
Sell Your Home For Continue Reading →
By Dennis Norman, on January 15th, 2018 Dr. Martin Luther King, Jr. is a name synonymous with civil rights who, along with his followers, led to the passage of the Civil Rights Act. Through the efforts of the civil rights movement, Dr. King and others were able to get the attention of our nation resulting in President John F. Kennedy, in a nationally televised address on June 6, 1963, urging the nation to ” take action toward guaranteeing equal treatment of every American regardless of race.” Shortly after his address to the nation, President Kennedy proposed that Congress consider civil rights legislation that would address rights in Continue Reading →
By Dennis Norman, on January 4th, 2018 When you interview real estate agents to consider them to list your home there are all sorts of claims they can make as to what they will do different, or how they will get your home sold quicker, for more, etc. But how about this one? I can tell you the name of the person likely to buy your home!
Well, maybe I should add a caveat or two…
I can tell you that, in an analysis of over 4 million home sales during 2017 done by ATTOM Data Solutions, it was revealed where there were the largest increases, Continue Reading →
By Dennis Norman, on December 31st, 2017 Home sales and home prices in St Charles County during the 12-month period ending November 30, 2017, are trending in opposite directions. Home sales in St Charles County have, as the chart below reveals, declined 5.7% from 6,155 home sales for the 12 month period ended November 30, 2016 to 5,806 home sales for the period ended November 30, 2017. The median price per foot for homes sold during these same periods however have increased 2.4% from $127 per foot for the period ended November 2016 to $130 per foot for the period ended November 30, 2017.
St Charles County Continue Reading →
By Dennis Norman, on December 30th, 2017 Home sales and home prices in St Louis city and St Louis County during the 12-month period ending November 30, 2017, are trending in opposite directions. Home sales, for these two areas combined, have, as the chart below reveals, declined 4.2% from 44,823 home sales for the 12 month period ended November 30, 2016 to 42,958 home sales for the period ended November 30, 2017. The median price per foot for homes sold during these same periods however have increased 3.7% from $107 per foot for the period ended November 2016 to $111 per foot for the period ended November Continue Reading →
By Dennis Norman, on December 28th, 2017 If you have read any of my articles here about home prices previously, you will probably know that I feel price per foot is the best way to compare home prices. Looking at home prices in this manner makes it easier to do apples to apples comparison on home prices. Speaking of apples, they are a good analogy. Apples generally are sold by the pound, which makes it easier to figure out whether the 3lb bag for $5.25 or the 12 lb bag for $19.20 is a better deal. On the surface, if we just went by the gross sales Continue Reading →
By Dennis Norman, on December 27th, 2017 Distressed home sales, foreclosures, bank and government-owned homes and short sales, continue to decline in St Louis as the economy and housing market continue to improve. The chart below illustrates this downward trend as, for each monthly data point, it shows the total number of distressed home sales in the 5-county core St Louis market for the prior 12-months. Plotting out the prior 12-month activity is a great way to spot trends and changes in the market. As the chart shows, for the 12-month period ending last month, November 2017, there were 1,484 distressed home sales, down over 34% from Continue Reading →
By Dennis Norman, on December 21st, 2017 The real estate market in St Louis continues to improve and grow stronger, evidenced by the declining foreclosure rates being reported by ATTOM Data Solutions. For November 2017, there were 857 foreclosure actions taken on housing units within the St Louis MSA, a decline of 17.52% from the month before and a decline of 6.54% from a year ago.
St Louis MSA Foreclosure Rate – November 2017
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By Dennis Norman, on December 21st, 2017 With just a few days before Christmas and Thanksgiving less than a month ago, this is normally known as the “slow season” for real estate however, homes in St Louis continue to sell in record time! Below are the 10 St Louis metro area cities where homes have sold the fastest, based upon the average days it took homes to sell that closed within the last 30 days. The fastest selling city today is Rock Hill at 12 days which is only 1 day slower than the #1 city on the list back in late August. You can click on Continue Reading →
By Dennis Norman, on December 14th, 2017 St Louis home sales are on pace to top last year! The inventory of homes for sale continues to be low and home price appreciation over the past year has been at at good, sustainable rate. Find out more, as well as get information on some of St Louis’s best resources for home buyers and sellers in our just-released market update video. In our MORE, REALTORS, 5 Minute St Louis Real Estate Market Update video below, you can quickly and easily get the latest information on home prices, home sales, trends and more for the entire St Louis area!
Continue Reading →
By Dennis Norman, on December 8th, 2017 St Louis flipped homes accounted for 6.6% of home sales in the St Louis MSA during the 3rd quarter of 2017, the lowest level since the 3rd quarter of 2016 when flips made up 6.3% of the St Louis home sales. For the purposes of this report, a “flip” was defined as a property that was sold in an arms-length sale for the second time within a 12-month period.
Slow times are good flip times…
As the table below shows, with very few exceptions, for the 17 year period covered in the table, home flips have accounted for a larger Continue Reading →
By Dennis Norman, on December 3rd, 2017 After the housing bubble burst in 2008, home prices finally hit bottom in the St Louis metro area, as they did in most areas of the U.S., during 2012. Since then, home prices in most areas have not only regained the post-bubble burst losses but have appreciated handsomely as well. For the St Louis MSA, the median price of homes sold has increased 34% from 2012 through today, an annual growth rate of 4.98%. The steady and fairly significant, increase in home prices in St Louis has caused some to ask if it is “too much, too fast?”. In other Continue Reading →
By Dennis Norman, on November 25th, 2017 The US Census Bureau recently released “Mover Rate” data which showed who moves, how frequently, the demographics of those who have moved as well as the geography of where they move. While they don’t have the data published at the city or county level, I did pull the data for here in the Midwest Region of the country and have compiled some of the more interesting tidbits in tables at the bottom of this article. (We work hard on this and sure would appreciate a “Like”) Search St Louis Homes For Sale All The St Louis Open Houses Scheduled For Continue Reading →
By Dennis Norman, on November 24th, 2017 Ok, everyone knows Black Friday is a huge shopping day, historically the largest shopping day of the year, but is it a big day to shop for a home as well? Well, based on our data from last year, maybe not so much. As our tables show below, while there were 35 homes and condos sold in the core St Louis market (the city of St Louis and counties of St Louis, St Charles, Jefferson and Franklin) that was just over half as many as were sold the Friday before, and the Friday after, Black Friday. So, it appears on Continue Reading →
By Dennis Norman, on November 23rd, 2017 By the President of the United States of America A ProclamationIt has pleased Almighty God to prolong our national life another year, defending us with His guardian care against unfriendly designs from abroad and vouchsafing to us in His mercy many and signal victories over the enemy, who is of our own household. It has also pleased our Heavenly Father to favor as well our citizens in their homes as our soldiers in their camps and our sailors on the rivers and seas with unusual health. He has largely augmented our free population by emancipation and by immigration, while He Continue Reading →
By Dennis Norman, on November 22nd, 2017 Home sales in the city and county of St Louis this year have pretty consistently, from month to month, been at a pace roughly 5 percent higher than at the same time last year. As our chart below illustrates, we began this year with 747 homes sold (not including distressed sales) in St Louis city and county, an increase of 5.2% from January 2016 when there were 710 homes sold. As of the end of October, there were 12,824 homes sold this year, an increase of 5.6% from the same time last year when there were 12,145 in the city Continue Reading →
By Dennis Norman, on November 15th, 2017 Will home sales this year fall short of last years total? Have home prices risen too much in St Louis? Is there still a shortage of homes for sale in St Louis? Find the answers, data behind the answers, as well as complete, and up to date, home price and sales data for the entire St Louis market, in our just released market update video.
In our MORE, REALTORS, 5 Minute St Louis Real Estate Market Update video below, you can quickly and easily get the latest information on home prices, home sales, trends and more for the entire St Continue Reading →
By Dennis Norman, on November 8th, 2017 As we head into the holidays and winter months, the St Louis real estate market is slowing as is typical, however, it is still going fairly strong. Below are the 10 St Louis metro area cities where homes sold the quickest, based upon the days it too homes to sell that closed in the last 30 days. The time it took homes to sell has only dropped slightly since we last published this list in late August. In late August the number 1 city on the list took 11 days to sell and #10 on the list, 20 days. Today’s Continue Reading →
By Dennis Norman, on November 5th, 2017 The vacancy rate for rentals in St Louis during the third quarter of this year was 9.8%, significantly lower than the median vacancy rate of 11.5% for that quarter since 2004. The year to date median vacancy rate for 2017, through the first 3 quarters, is 8.1% which is tied with last years rate, the lowest in more than a decade. So it’s a good time to be a landlord in St Louis! (We work hard on this and sure would appreciate a “Like”)[iframe http://www.facebook.com/plugins/like.php?href=https%3A%2F%2Fwww.facebook.com%2FStLouisRealEstateNews&send=false&layout=standard&width=50&show_faces=false&font&colorscheme=light&action=like&height=35&appId=537283152977556 100 35 ] Search Rental Property For Sale In St Louis Search Multi-Family Properties for Continue Reading →
By Dennis Norman, on November 3rd, 2017 There is little doubt that lower-income individuals and, subsequently, lower-income neighborhoods, were impacted more negatively by the housing market bubble burst in 2008 than other areas. This resulted in extremely high mortgage delinquency rates, high foreclosure rates, and declining home values. Afterward, citing “loose” lending standards, sub-prime mortgages, etc, the mortgage market tightened the reins on mortgage lending making it more difficult for everyone to get a loan, but particularly, those folks in the lower income brackets.
As time has passed, home loan requirements have eased and it is now easier to obtain a home loan. Some of the requirements Continue Reading →
By Dennis Norman, on October 31st, 2017 The homeownership rate in St Louis, during the 3rd quarter of this year was 68.0 percent, the highest level since the 3rd quarter of 2015 when the rate was 70.3 percent, according to data just released by the U.S. Census Bureau.
Homeownership Rate St Louis MSA
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The homeownership rate for the State of Missouri during the 3rd quarter of 2017 was 70.4 percent, the highest level for the Continue Reading →
By Dennis Norman, on October 30th, 2017 Over the past couple of years, as the St Louis real estate market has continued performing well, mortgage delinquencies and foreclosures have continued to decline. Rising home value has also caused the number of “underwater” homeowners, also known as homeowners in a negative-equity position (meaning their mortgage balance exceeds their homes current value) to decline as well. As the table below shows, 5 of the seven St Louis area counties listed saw a decline in the number of underwater properties in the 3rd quarter of this year from a year ago. The largest decline in underwater properties was St Charles Continue Reading →
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