Dennis Norman - St Louis Real Estate News

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 →

St. Louis Foreclosure Activity Creeps Higher but Still a Fraction of What It Once Was

By Dennis Norman, on May 15th, 2025

According to ATTOM’s just-released April 2025 U.S. Foreclosure Market Report, foreclosure activity across the U.S. continues to rise gradually. A total of 36,033 properties had a foreclosure filing last month, which includes default notices, scheduled auctions, or bank repossessions. This marks a 0.4% increase from March and a 13.9% jump from April 2024. Rob Barber, CEO of ATTOM, commented that while foreclosure volume is still below historical norms, “the year-over-year increases may suggest that some homeowners are beginning to feel the effects of persistent economic pressures.”

In the Midwest, Illinois stood out with one of the highest foreclosure rates in Continue Reading →

Wire Fraud Is Targeting Homebuyers and Sellers – And Most Don’t Even Know It’s Happening

By Dennis Norman, on May 14th, 2025

St Louis Real Estate Wire Fraud - 2025 Report

If you’re buying or selling a home in 2025, there’s a hidden threat you need to be aware of: wire fraud. According to the newly released State of Wire Fraud 2025 report by CertifID, 1 in 4 consumers reported receiving suspicious or fraudulent communication during their real estate transaction—and nearly 1 in 20 fell victim.

In 2024 alone, these scams resulted in nearly $500 million in losses. The method? Criminals impersonate trusted figures in the transaction—with real estate agents being the top target, mentioned by 58% of victims. Title agents were Continue Reading →

New Home Construction Slows in St. Louis—Five of Seven Counties See Double-Digit Drop in Permits

By Dennis Norman, on May 12th, 2025

In the 12-month period ending March 31, 2025, there were 3,492 permits issued for new single-family homes in the St. Louis area, a 16.55% decrease from the 4,070 permits issued during the prior year, according to the Home Builders Association of St. Louis & Eastern Missouri. Five of the seven counties in the report showed double-digit drops in new home permit activity. However, Franklin County and Warren County saw double-digit increases, indicating continued strong interest in those markets.

This data is one of the many reasons buyers and investors rely on the expertise and insights from MORE, REALTORS®

See Continue Reading →

Metro East Update: Real Estate Market Trends as of May 2025

By Dennis Norman, on May 9th, 2025

The Metro East real estate market has shown notable growth in April 2025, with the median home selling price reaching $193,000, a 5.46% increase from April 2024. This upward trend is also evident from the month-to-month comparison, where there was a 4.64% rise from March 2025’s median sold price of $184,450. While sales prices are climbing, the number of homes sold in April 2025 experienced a slight decrease, with 595 homes sold compared to 635 in the same month last year, reflecting a 6.30% drop.

The median list price for homes also saw an increase, reaching $192,500 in April 2025, Continue Reading →

St. Louis Mortgage Rates Update – May 2025: A Detailed Overview for Buyers and Sellers

By Dennis Norman, on May 8th, 2025

As we navigate the complexities of the St. Louis real estate market in May 2025, understanding the current mortgage rates is crucial for both potential home buyers and sellers. The latest data provided by MORE, REALTORS® indicates a slight decrease in interest rates, which could influence decision-making processes in the housing market. The 30-Year Fixed Rate now stands at 6.86%, showing a minor reduction of 0.02%. Similarly, the 15-Year Fixed Rate has also decreased by 0.02%, currently at 6.19%. These small changes suggest a relatively stable interest rate environment.

For those considering more substantial home purchases, the 30-Year Jumbo Rate Continue Reading →

St. Charles County Real Estate Market Sees Continued Growth in May 2025

By Dennis Norman, on May 8th, 2025

The real estate market in St. Charles County has demonstrated robust growth as of May 2025, with significant increases in both median sold and list prices compared to the previous year. In April 2025, homes in St. Charles County sold for a median price of $375,000, marking a 4.17% increase from April 2024, when the median sold price was $360,000. This figure also represents a 1.35% rise from March 2025, where the median sold price was $370,000.

The median list price in April 2025 reached $374,400, up by 6.97% from $350,000 in April 2024. Additionally, the number of home sales Continue Reading →

Is St. Louis Still Affordable? See How Missouri and Illinois Stack Up in New Housing Report

By Dennis Norman, on May 7th, 2025

According to a recent report by Realtor.com, Missouri and Illinois rank in the middle of the pack when it comes to home affordability, with Missouri landing at #22 and Illinois at #30 among all 50 states and the District of Columbia. While neither state earned a top grade, both remain relatively affordable compared to coastal and western markets. Missouri received a “C” grade with a REALTORS® Affordability Score of 0.82 and a median listing price of $298,696. Illinois, also graded “C”, had a slightly higher affordability score of 0.86, a median home price of $316,613, and a notably higher median Continue Reading →

Franklin County Real Estate Market Sees Price Increase in May 2025

By Dennis Norman, on May 6th, 2025

The Franklin County real estate market experienced a notable increase in home prices in April 2025, with the median sold price reaching $267,500. This reflects an 8.98% rise from April 2024, where the median price was $245,450, and a slight increase of 0.13% from March 2025. Meanwhile, the median list price also saw a growth, setting at $270,950 in April 2025, up by 9.03% from the previous year.

Despite the rise in prices, the number of homes sold in Franklin County decreased by 16.36% year-over-year, with 92 homes sold in April 2025 compared to 110 in the same month last Continue Reading →

St. Louis Sellers: Why MLS Listings Still Beat “Office Exclusive Listings” and Private Networks in 2025

By Dennis Norman, on May 6th, 2025

Why Private Listing Networks and Office Exclusive Listings are not as good as the MLS

The latest data is in, and it confirms what many of us in the real estate business have long suspected: properties listed on the MLS consistently outperform those kept in private listing networks or “office exclusives.” As the practice of marketing homes privately grows, the question is more important than ever for sellers and agents alike: what’s really the better move?

According to Bright MLS’s analysis of over 100,000 home sales across six states and D.C., office exclusives take 85% longer to go under contract compared to homes listed in the MLS. That’s a 37-day median versus just 20 days Continue Reading →

Court Blocks St. Louis Short-Term Rental Law, Halts All Permits and Fees

By Dennis Norman, on May 1st, 2025

Restraining order against City of St Louis on short term rental permits

On April 22, 2025, a court issued a temporary restraining order preventing the City of St. Louis from enforcing Ordinance 71729, which governs short-term rentals in the city. As a result, the city has paused all activity related to the permitting and regulation of short-term rentals, including accepting new applications, conducting inspections, issuing permits, and collecting associated fees. This pause also affects the recently passed Proposition S, halting the collection of the 3% fee approved by voters in November 2024.

While the legal dispute continues, short-term rentals can continue to operate in the City of St. Louis without permits as Continue Reading →

St. Louis Mortgage Rates in May 2025: A Comprehensive Overview

By Dennis Norman, on May 1st, 2025

As of May 2025, the St. Louis real estate market is experiencing a variety of mortgage rate options that cater to different types of buyers and refinancing needs. The 30-Year Fixed Rate remains steady at 6.81%, indicating a stable lending environment. On the other hand, the 15-Year Fixed Rate has seen a slight decrease to 6.15%, down by 0.02%, which might appeal to homeowners looking to refinance and pay off their loans faster.

For those considering larger, more expensive properties, the 30-Year Jumbo Rate is currently at 6.95%. This rate is slightly higher than the standard fixed rates, reflecting the Continue Reading →

St. Louis Condo Owners: Is Your Property at Risk from Unlicensed Managers?

By Dennis Norman, on April 28th, 2025

In Missouri, it’s an eye-opener that companies managing homeowners associations (HOAs), condominium associations, and subdivisions are not required to hold any type of state license—not even a real estate broker’s license. Yet, just across the river in Illinois, community association managers must be licensed under their Community Association Manager Licensing and Disciplinary Act. This gap in regulation here in Missouri leaves condo owners and homeowners vulnerable, particularly when it comes to the management of large associations that handle millions of dollars in dues and are responsible for common ground and major infrastructure like private streets and utilities.

Think about it: Continue Reading →

Rental Collections Improve Nationally—But Missouri and Illinois Fall Behind

By Dennis Norman, on April 27th, 2025

The latest Independent Landlord Rental Performance Report from Chandan Economics, covering April 2025, shows on-time rental payments nationally hitting 86.3% — an improvement of 45 basis points from the prior month, and notably the first year-over-year increase in on-time payments since July 2023. While this is encouraging news overall for small to medium landlords, the story for Missouri and Illinois isn’t quite as rosy when you dig into the state-level data.

Missouri posted an on-time payment rate of just 83%, putting us at 42nd out of the 47 states and districts that met reporting Continue Reading →

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

By Dennis Norman, on April 24th, 2025

As of April 2025, the St. Louis real estate market is experiencing a shift in mortgage rates that potential home buyers and sellers should consider. The 30-Year Fixed Rate has climbed slightly to 6.95%, marking an increase of 0.10% from previous figures. Similarly, the 15-Year Fixed Rate has risen to 6.37%, up by 0.13%. These changes indicate a trend towards rising mortgage costs in the region, which could influence buying decisions and market dynamics.

For those considering more substantial home purchases, the 30-Year Jumbo Rate stands at 7.05%, while the 30-Year FHA Rate is notably lower at 6.42%. Additionally, the Continue Reading →

St. Louis City Real Estate Market Sees Price Increase in April 2025

By Dennis Norman, on April 21st, 2025

The St. Louis City real estate market demonstrated a robust increase in home prices during March 2025, according to the latest data. Homes sold for a median price of $220,000, marking a significant 4.76% rise from the previous year’s median of $210,000. This upward trend is further highlighted by a 10.03% increase from February 2025, where the median sold price was $199,950. Additionally, the median list price in March climbed to $222,450, up 11.23% from $200,000 in March 2024.

Despite the increase in prices, the number of home sales experienced a slight decline. There were 206 homes sold in March Continue Reading →

St. Louis County Real Estate Market Sees Significant Price Increase in April 2025

By Dennis Norman, on April 19th, 2025

The St. Louis County real estate market has experienced notable growth in property values, according to the latest data. In March 2025, homes in St. Louis County sold for a median price of $275,000, marking a substantial increase of 16.92% compared to March 2024, when the median sold price was $235,200. This rise also reflects a 10.00% increase from February 2025, which had a median sold price of $250,000.

Furthermore, the median list price for homes was $271,000 in March 2025, up by 17.88% from $229,900 in the same month the previous year. Despite these higher prices, the number of Continue Reading →

St. Louis Mortgage Rates Update: April 2025 Trends and Insights

By Dennis Norman, on April 17th, 2025

As of April 2025, the St. Louis real estate market is experiencing a dynamic shift in mortgage rates, crucial for both potential homebuyers and current homeowners considering refinancing. The 30-year fixed mortgage rate has seen a slight increase to 6.95%, up by 0.10% from the previous month. Similarly, the 15-year fixed rate has risen to 6.37%, marking a 0.13% increase. These changes reflect broader economic trends impacting borrowing costs.

For those looking at more substantial properties, the 30-year jumbo loan rate stands at 7.05%, slightly higher than conventional loan rates, indicating a premium for higher loan amounts. Conversely, more affordable Continue Reading →

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

By Dennis Norman, on April 17th, 2025

The St. Louis metropolitan area, spanning counties in both Missouri and Illinois, has experienced a slight shift in its real estate market this year. Through the end of March 2025, the region recorded 6,018 homes sold, marking a 6.25% decrease compared to the 6,419 homes sold during the same period in the previous year. This change reflects the dynamic nature of the local real estate market, which can fluctuate due to a variety of economic and environmental factors.

Despite the recent dip, the St. Louis real estate market continues to offer substantial opportunities for both buyers and sellers. Those interested Continue Reading →

Discover St. Louis’s Fastest Selling Zip Codes for Real Estate

By Dennis Norman, on April 16th, 2025

If you’re considering buying or selling property in the St. Louis metropolitan area, staying informed about the fastest moving markets is crucial. Leading the pack is zip code 63026 in Jefferson, St. Louis, MO, showcasing an impressive average market duration of just 16 days for its 12 active listings, with homes priced around $281,467 on average. Not far behind, zip code 63043 in St. Louis, MO, matches the 16-day market pace with 6 listings, demonstrating a high demand among potential homebuyers. Additionally, the 63038 area, also in St. Louis, MO, with its 6 listings, follows closely with homes averaging 17 Continue Reading →

Jefferson County Real Estate Market Update: April 2025 Insights

By Dennis Norman, on April 15th, 2025

The Jefferson County real estate market has experienced subtle shifts as of March 2025. Homes in the area sold for a median price of $255,300, marking a slight decrease of 0.27% compared to March 2024, when the median sale price was $256,000. This recent figure also represents a significant drop of 6.14% from February 2025, where the median sales price stood at $272,000. Despite the dip in sold prices, the median list price showed an upward trend, settling at $259,950, which is a 4.02% increase from the previous year’s $249,900.

In terms of sales volume, there were 186 homes sold Continue Reading →