Dennis Norman - St Louis Real Estate News

St. Louis County Real Estate Market Sees Significant Price Growth in June 2025

By Dennis Norman, on June 19th, 2025

The St. Louis County real estate market experienced notable price increases in May 2025, according to the latest data. Homes sold for a median price of $301,900, marking a sharp rise of 9.78% compared to May 2024, when the median sold price was $275,000. This increase is also a significant 11.81% jump from April 2025’s median sold price of $270,000. The median list price followed a similar upward trend, reaching $294,900 in May 2025, up 11.28% from $265,000 in the same month last year.

Despite the rise in prices, the number of home sales in St. Louis County saw a Continue Reading →

St. Louis Sees Slight Easing in Mortgage Rates, June 2025: 30-Year Fixed at 6.87%, 15-Year at 6.13%

By Dennis Norman, on June 19th, 2025

In St. Louis, the mortgage landscape is experiencing a minor but welcome decrease in rates as of June 2025. The 30-year fixed mortgage rate has edged down slightly to 6.87%, a decrease of 0.01%, while the 15-year fixed rate has also dropped by 0.03% to 6.13%. These changes, though modest, continue the overall downward trend in the local mortgage rate environment, providing some relief to homebuyers amidst rates that remain historically high.

For potential homebuyers and sellers in the St. Louis area, these rate adjustments mean slightly lower borrowing costs, which could enhance buying power in a market that has Continue Reading →

St. Charles County Real Estate Market Sees Price Increase in May 2025

By Dennis Norman, on June 18th, 2025

The St. Charles County real estate market experienced a notable increase in home prices in May 2025. The median sold price for homes reached $370,000, marking a 5.41% rise from May 2024’s median of $351,000. This increase also represents a 2.78% growth from April 2025, where the median sold price was $360,000. Meanwhile, the median list price saw an uptick to $373,950, which is 6.84% higher compared to the same period last year.

Despite the rise in prices, the number of homes sold in May 2025 slightly decreased by 3.26%, with 504 homes sold compared to 521 in May 2024. Continue Reading →

Would You Buy a 3-Bed Ranch for $54 a Month? What a 1961 Eureka Ad Reveals About Today’s St. Louis Housing Math

By Dennis Norman, on June 18th, 2025

Buried in a 1961 Sunday Post-Dispatch Newspaper, an ad by Income Investment Co. promised St. Louisans a new home for a price “everyone” could afford—$9,650 with just $350 down and a principal-and-interest payment of $54.31. The 3-bedroom ranches in Eureka’s brand-new “Shaw’s Garden” subdivision even came with five king-size closets and concrete streets. Chrysler’s Fenton plant was ramping up a few miles away, and the ad all but wrote the script for the blue-collar American Dream.

Fast-forward to 2025. That $9,650 price tag converts to roughly $99,000 in today’s dollars using the CPI, yet recent sales on the same streets: Continue Reading →

Franklin County Real Estate Market Update: June 2025 Insights

By Dennis Norman, on June 17th, 2025

The Franklin County real estate market witnessed subtle yet noteworthy changes in May 2025. The median sold price for homes reached $260,700, marking a slight increase of 0.27% from May 2024, when the median was $260,000. However, this figure shows a decrease of 2.81% compared to April 2025, where homes were selling at a median price of $268,250.

In terms of market activity, there were 130 home sales in May 2025, reflecting a growth of 5.69% from the 123 sales recorded in May 2024. Meanwhile, the median list price experienced a minor dip, settling at $257,450, down by 0.94% Continue Reading →

When ‘Private’ Means Less Money: The Risk of Off-MLS Sales

By Dennis Norman, on June 17th, 2025

Private Listings - Hidden from the Market

The conversation around private or “off-MLS” listings is heating up again, and for good reason. With inventory climbing and more competition among sellers, maximizing exposure is more important than ever.

While private listings are sometimes positioned as a strategic move, the reality is that withholding a listing from the open market often limits a seller’s reach, potentially leaving money on the table. That’s the central warning in an Op-Ed by Realtor.com CEO Damian Eales, who writes:

“Private listings benefit agents and brokerages more than they do consumers… The more listings that are private, the Continue Reading →

Jefferson County Real Estate Market Update: June 2025 Insights

By Dennis Norman, on June 15th, 2025

The Jefferson County real estate market has experienced significant changes as of May 2025, with the median home selling price reaching $300,000, a notable increase of 13.21% from the previous year. This upward trend is also evident from April 2025, where the median sold price was $290,000, marking a 3.45% rise. Despite the higher prices, the number of homes sold in May 2025 saw a decrease, with 241 homes sold compared to 284 in May 2024, a drop of 15.14%.

The median list price in May 2025 stood at $295,900, showing a robust growth of 13.81% from $260,000 in May Continue Reading →

St. Louis City Real Estate Market Update: June 2025 Insights

By Dennis Norman, on June 14th, 2025

The St. Louis City real estate market has shown varied dynamics as of May 2025. Homes sold for a median price of $230,000, marking a slight increase of 0.88% from May 2024, when the median sale price was $228,000. This figure, however, reflects a decrease of 4.17% compared to April 2025, when homes were selling at a median price of $240,000. The median list price in May 2025 also showed an upward trend, standing at $230,000, which is a 3.39% increase from the previous year’s $222,450.

In terms of sales volume, there were 329 home sales in May 2025, a Continue Reading →

Private Listings in Missouri: State Regulators Are Paying Attention

By Dennis Norman, on June 13th, 2025

Private Listing Networks in Missouri and the MREC

While brokers across the country argue over Clear Cooperation and buyer compensation, one group isn’t making noise — but they are taking notes. State real estate commissions, including Missouri’s, are quietly preparing for enforcement… and private listings are on their radar.

In a recent blog post titled “Private listings just got real: State regulators have entered the chat“, real estate compliance consultant Summer Goralik, a former DRE investigator, warned that off-MLS listings marketed without clear seller-driven intent could expose brokers to serious regulatory trouble. And in Missouri, that trouble comes with a very specific rulebook.

Continue Reading →

NAR Updates Speech Rule: Is it Time for REALTORS® Previously Sanctioned to Get Justice?

By Dennis Norman, on June 12th, 2025

Rob Hahn recently ignited an important conversation about the National Association of REALTORS® (NAR) decision to significantly modify Standard of Practice 10-5, a rule initially established to prevent harassment based on protected characteristics. While NAR’s move to restrict 10-5’s scope solely to REALTORS’ professional activities has been welcomed as a step toward safeguarding free speech, Hahn highlights another critical dimension needing attention: restitution for those previously penalized under its broader interpretation.

According to Hahn, now that NAR acknowledges the overreach of the initial rule, it owes apologies and possibly reparations to REALTORS previously sanctioned under it. As Continue Reading →

St. Louis Mortgage Rates Dip Slightly in June 2025: 30-Year Fixed at 6.89%, 15-Year at 6.20%

By Dennis Norman, on June 12th, 2025

In a modest respite for potential homebuyers, St. Louis mortgage rates have shown a fractional decrease as of June 2025, with the 30-Year Fixed Rate now sitting at 6.89%, a slight decline of 0.04%. The 15-Year Fixed Rate has also seen a minimal drop, now at 6.20%, down by 0.01%. While these changes may seem minimal, in the context of rates consistently above 6.5%, any reduction can be significant for those financing a home purchase.

For buyers and sellers in the St. Louis area, these changes signal a potentially cooling market, where slightly lower rates could enhance buying power, albeit Continue Reading →

St. Louis-Based MARIS Proves Its Strength as Regional MLS Outperforms Local Associations in 2024

By Dennis Norman, on June 11th, 2025

MARIS membership vs St Louis Realtors membership

MARIS Outperforms Its Associations in Stability, Solidifying Its Role in the St. Louis Real Estate Market

In a shifting real estate landscape marked by declining membership in many markets, MARIS (Mid-America Regional Information Systems) stands out as a model of stability and strength. Headquartered in St. Louis, MARIS is the MLS for the St. Louis metro area, and surrounding counties, serving 10 local associations across Missouri and Illinois. As of year-end 2024, MARIS recorded 15,014 subscribers—a decline of just 2.1% from the previous year. Compared to the drops seen in many of the associations it serves, this is a noteworthy Continue Reading →

Federal Lawsuit Challenges NAR Policy That Forces Brokers to Pay for Non-Member Agents

By Dennis Norman, on June 10th, 2025

JOhn Diaz vs NAR lawsuit over dues for non member agents

A new federal lawsuit filed in California is challenging a long-standing National Association of REALTORS® (NAR) policy that many small and independent brokers argue has quietly stifled competition in the real estate industry for years. The suit, brought by broker John Diaz, centers on the “Variable Dues Formula” — a policy that requires designated REALTOR® brokers to pay NAR dues not just for themselves, but also for any agents in their firm who are not NAR members, even if those agents opt out of the services.

While this may sound like an administrative issue, it has real consequences, particularly for Continue Reading →

Missouri Leads Nation as Real Estate Investors Sell Off Record Number of Homes

By Dennis Norman, on June 10th, 2025

Investors offloading property in St Louis

Last year saw a record-setting shift in the housing market as real estate investors unloaded homes at a pace we haven’t seen in over two decades. According to the 2025 Investor Report released by Realtor.com, nearly 11% of all U.S. home sales in 2024 came from investors—the highest level since this data began in 2001. Unlike during the pandemic boom, this uptick wasn’t about cashing in on appreciation. It was about cutting losses in a softer market with declining rents.

Missouri was at the epicenter of this trend, tying with Oklahoma for the highest percentage of investor sales at 16.7%. Continue Reading →

National Association of REALTORS® Scales Back Speech Rules to Focus on Professional Conduct

By Dennis Norman, on June 5th, 2025

REALTORS Change to Code of Ethics SOP 10-5 to allow free speech

The National Association of REALTORS® Board of Directors today approved updates to Standard of Practice 10-5 and Professional Standards Policy Statement 29 — both key components of Article 10 of the Code of Ethics. These long-anticipated changes, debated since 2023, aim to bring more clarity and consistency to how REALTORS® are held accountable when it comes to discrimination and harassment.

As I reported in my May 26th article, concerns had been growing over whether SOP 10-5 infringed on members’ personal free speech — especially in cases where comments or beliefs expressed outside the workplace led to disciplinary action. The revised Continue Reading →

St. Louis Sees Mortgage Rate Dip in June 2025, with 30-Year Fixed at 6.87%

By Dennis Norman, on June 5th, 2025

In a welcome shift for potential homeowners, mortgage rates in St. Louis have experienced a slight decrease as of June 2025. The 30-Year Fixed mortgage rate has dipped to 6.87%, a reduction of 0.09%, maintaining a level above the 6.5% threshold but showing signs of easing. Similarly, the 15-Year Fixed rate has also decreased by 0.09%, now at 6.12%. This downward trend offers a slight reprieve for buyers in the St. Louis real estate market who have been facing high rates in recent times.

The impact of these changes on the St. Louis housing market is significant, especially for first-time Continue Reading →

Back to the Future? Why Subagency Might Not Be as Crazy as It Sounds

By Dennis Norman, on June 5th, 2025

The recent discussion stirred up by Rob Hahn’s piece, “A Modest Proposal: Bring Back Subagency,” hit a nerve,not because I necessarily agree with everything he said, but because it made me think. As someone who’s long been a supporter of buyer agency,especially the idea that buyers deserve representation,I have to admit, Rob raises some points that are hard to ignore. Especially when it comes to the reality that many agents, despite their good intentions, don’t fully grasp what fiduciary duty really means.

Let’s be honest: fiduciary responsibility is a big deal. It’s not just a label,it’s a legal and ethical Continue Reading →

The Magic Bullet is Mortgage Rates, Says Top U.S. Housing Economist, Lawrence Yun, at NAR Economic Forecast

By Dennis Norman, on June 4th, 2025

Lawrence Yun - Interest rates are magic bullet - 2025 Economic Forecaste

Lawrence Yun, Chief Economist, NAR

Yesterday, I attended the Economic Forecast session during the NAR Mid-Year Meetings in Washington D.C., where National Association of REALTORS® Chief Economist Lawrence Yun gave a sobering yet hopeful outlook for the housing market — and homeowners, sellers, and agents in the St. Louis area should take note.

Yun, recently ranked one of the nation’s top economic forecasters by The Wall Street Journal, admitted the recovery he had predicted hasn’t yet materialized. “I thought at this conference I would share some good news with you. Home sales are rising. Momentum Continue Reading →

Times Beach, Missouri: The Lost Town Hiding in Plain Sight Near St. Louis

By Dennis Norman, on May 31st, 2025

Just outside of St. Louis, tucked alongside the Meramec River, lies the forgotten town of Times Beach, Missouri. Or at least, what’s left of it. Today, it’s known as Route 66 State Park. But if you’ve ever walked the trails there and felt something unusual about the place, there’s a reason. Beneath the soil and forest sits the remains of an entire community that was evacuated and erased in the early 1980s due to dioxin contamination.

Recently, I came across a fascinating documentary about Times Beach created by a young filmmaker named Drew Walters. I’ve known Drew for a long Continue Reading →

Sitzer Settlement on the Brink? New Appeal Could Reopen Commission Lawsuit

By Dennis Norman, on May 30th, 2025

Sitzer v NAR settlement challenged and may be tossed by court

Quick Summary: A new legal challenge could undo the $1.8 billion+ Sitzer/Burnett vs NAR real estate commission settlement. If successful, it could reverse everything the industry has done to comply, and throw home sellers, agents, and brokerages in St. Louis and across the U.S. into another round of litigation and uncertainty.

A key settlement in the Sitzer/Burnett commission lawsuit, the one that was supposed to change how agents get paid, may be on the brink of collapse. Law professor and former home seller Tanya Monestier has filed a formal appeal in the U.S. Court of Appeals for the Eighth Circuit. Continue Reading →

St. Louis Sees Minor Easing in Mortgage Rates: 30-Year Fixed Dips to 6.97% in May 2025

By Dennis Norman, on May 29th, 2025

In the ever-dynamic St. Louis real estate market, mortgage rates have shown a slight decrease as of May 2025, providing a small but notable relief for prospective homebuyers. The 30-Year Fixed Rate mortgage, a popular choice among residents, has edged down by 0.01% to 6.97%. Similarly, the 15-Year Fixed Rate has decreased by 0.02%, settling at 6.23%. This trend of falling rates, although modest, points towards a potentially more accessible market for buyers.

For sellers in the St. Louis area, the current rate adjustments mean maintaining a competitive edge in pricing their homes to attract buyers who are keen to Continue Reading →

These St. Louis Neighborhoods Crushed It in Home Value Gains…and no, its not Ladue or Clayton

By Dennis Norman, on May 27th, 2025

St Louis Zip Codes with Highest Home Price appreciation

When you think of booming home prices, places like Ladue (63124) or Clayton (63105) probably come to mind. But looking at home price appreciation in the St. Louis area from 2000 to 2024 tells a different story… and it might surprise you. At the top of the list? Benton Park and St. Louis Hills. Yes, you read that right, 63118 and 63109 outpaced every other zip code on the list, including the ones most associated with wealth.

Homes in 63118 jumped a staggering 554% since 2000, while 63109 rose 184%. Meanwhile, Ladue came in at just 109% growth and Clayton Continue Reading →

Memorial Day in St. Louis: A Reflection on Freedom, Service, and Where We Call Home

By Dennis Norman, on May 26th, 2025

Today, as we observe Memorial Day, we pause to honor the men and women who gave their lives in service to our country. This solemn day of remembrance has deep roots in American history, dating back to the years following the Civil War, and was officially recognized as a federal holiday in 1971. Here in St. Louis, a city rich in military tradition and home to Jefferson Barracks National Cemetery—one of the oldest military cemeteries in the nation—Memorial Day carries an especially strong connection to our community and its history.

For many, homeownership represents more than just a financial investment—it Continue Reading →

St. Louis Buyer Agent Commission Rates Hit 25-Year Low, Then Recovered — What’s Next?

By Dennis Norman, on May 23rd, 2025

In today’s real estate market, buyers face more complexity than ever, especially when it comes to representation and how buyer agent commissions are handled. While some buyers still consider working directly with the listing agent or using a neutral transaction agent, the reality is that only a dedicated buyer’s agent offers true advocacy for the buyer’s interests throughout the process. This includes identifying properties, evaluating pricing, negotiating inspections and repairs, and advising all the way through closing. Since the Sitzer-Burnett lawsuit settlement—which fundamentally changed how commissions are disclosed and negotiated—MLS listings no longer include advertised offers of compensation to buyer’s Continue Reading →

St. Louis Mortgage Rates Update: Trends and Insights for May 2025

By Dennis Norman, on May 23rd, 2025

As of May 2025, the St. Louis real estate market is experiencing subtle shifts in mortgage rates, which are crucial for both potential home buyers and current homeowners considering refinancing. The 30-Year Fixed Rate has seen a slight increase to 7.08%, up by 0.09% from the previous period. This uptick suggests a tightening in lending conditions, potentially influencing buyer affordability in the St. Louis area. Similarly, the 15-Year Fixed Rate has risen to 6.39%, marking a change of 0.04%.

For those looking at more substantial home purchases, the 30-Year Jumbo Rate currently stands at 7.13%, closely aligning with the standard Continue Reading →

May 2025 St. Louis County Real Estate Market Sees Price Increase Despite Sales Dip

By Dennis Norman, on May 19th, 2025

The St. Louis County real estate market displayed mixed signals in April 2025, with home prices continuing to climb even as sales volumes decreased. According to the latest data, the median sold price for homes in St. Louis County reached $285,000, marking a 7.55% increase from April 2024’s median of $265,000. This price also shows a growth of 3.64% compared to March 2025, where the median was $275,000. Meanwhile, the median list price saw a rise to $275,000, up by 7.86% from the previous year.

However, the number of home sales tells a different story. April 2025 saw 811 homes Continue Reading →

St. Louis Metro Area Real Estate Trends: A Look at YTD Home Sales in 2025

By Dennis Norman, on May 17th, 2025

The St. Louis metropolitan area, encompassing counties in both Missouri and Illinois, has experienced a shift in its real estate market dynamics as of April 2025. This year, the region recorded a total of 7,926 homes sold, marking an 8.59% decrease compared to the 8,671 homes sold during the same period in the previous year. This change reflects various factors influencing the local market, providing potential home buyers and sellers with critical insights into current trends.

Despite the year-over-year dip, the St. Louis real estate market continues to offer diverse opportunities for both buyers and sellers. For those interested in Continue Reading →

Fed Report Sheds Light on Real Estate Commissions as St. Louis Data Reveals Long-Term Downtrend

By Dennis Norman, on May 16th, 2025

The Federal Reserve’s latest note on real estate commissions adds some national context to trends we’ve seen unfold in St. Louis for decades. While their report shows a national decline in buyer agent commissions from 3% in the late 1990s to around 2.7% in 2022, our local data shows this shift started much earlier and ran a bit deeper here.

In the St. Louis metro area, the median commission paid to buyer’s agents has been on a steady decline since peaking near 3% back in the early 2000s. By 2023, it had dropped to about 2.59%, just before MLS rules Continue Reading →

Jefferson County Real Estate Market Sees Price Increase in April 2025

By Dennis Norman, on May 15th, 2025

The Jefferson County real estate market witnessed a notable increase in home prices during April 2025. Homes sold for a median price of $285,000, marking a 7.26% rise from April 2024 when the median sold price was $265,700. This price also represents a significant 11.76% increase compared to March 2025, where the median sold price stood at $255,000. The median list price followed suit, reaching $279,900, which is a 6.62% increase from the previous year’s $262,527.

However, despite the rising prices, the number of home sales experienced a downturn. There were 187 home sales in April 2025, showing a decrease Continue Reading →

Understanding St. Louis Mortgage Rates in May 2025: A Guide for Home Buyers and Sellers

By Dennis Norman, on May 15th, 2025

As of May 2025, the St. Louis real estate market is experiencing shifts in mortgage rates that are essential for both potential home buyers and current homeowners considering selling. The 30-Year Fixed Rate has seen a slight increase to 6.99%, a change of +0.07% from previous figures. Similarly, the 15-Year Fixed Rate has risen to 6.34%, marking an increase of +0.08%. These adjustments might influence buyer affordability and seller market timing in the region.

For those looking into larger, more expensive properties, the 30-Year Jumbo Rate stands at 7.10%, while the more accessible FHA loans are available at a rate Continue Reading →