By Dennis Norman, on November 20th, 2019 As the table below shows, from MORE, REALTORS® exclusive STL Market Report, the overall St Louis MSA housing market has a current supply of homes for sale equal to just a little over two-and-a-half months making it very much favor sellers. The St Louis 5-County Core market (city of St Louis and counties of St Louis, St Charles, Jefferson and Franklin) have, as the second table shows, an even lower supply of homes for sale with a 2.32 month supply.
However, as the list at the bottom shows, there are some municipalities within the St Louis area that are buyers Continue Reading →
By Dennis Norman, on November 14th, 2019 After peaking in May 2018 with 27,829 homes sold in the prior 12-months, the St Louis home sales trend has trended downward until hitting 26,852 homes sold in the 12-month period ended August 31, 2019. However, for the two months since this low, St Louis home sales have trended upward slightly, reaching 26,888 homes sold in the 12-month period ended October 31, 2019.
Search St Louis Homes For Sale Search St Louis Upcoming OPEN HOUSES St Louis 5-County Core Market Home Sales Trend – Past 5 Years
Continue Reading →
By Dennis Norman, on November 11th, 2019 The St Louis real estate market trends remain steady and consistent! The St Louis home sales and price trends give me an optimistic outlook for next year. Low-interest rates continue to offset some of the cost of the increases in home prices that have occurred. 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.
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By Dennis Norman, on November 3rd, 2019 Thanks to a strong economy and low-interest rates, the actual cost of a home today in St Louis is lower than it was a year ago, in spite of the fact that the median price of homes sold in St Louis has increased by 5.64% in the past year. Most people buying a typical home in St Louis finance nearly all of the purchase price, therefore, the cost of financing plays a significant role in the true cost of a home. Buyers decide what they can afford (as do lenders) based upon the house payment, not the price of the Continue Reading →
By Dennis Norman, on October 27th, 2019 Homes in Rock Hill sold faster in the past 30 days than in any other city in the St Louis MSA, according to the latest data available from MORE, REALTORS®. Homes that closed in the past 30 days in Rock Hill took an average time of just 12 days to sell.
As the list below shows, 6 of the 10 fastest-sold cities in the St Louis MSA were in St Louis County, 3 in St Charles County and 1 in Jefferson County.
Search St Louis Homes For Sale Search St Louis Upcoming OPEN HOUSES Fastest SOLD Cities In Continue Reading →
By Dennis Norman, on October 25th, 2019 The median price of homes sold in Jefferson County during the past 12-months was $179,900, an increase of 6.83% from the prior 12-month period when the median price was $168,400. As the STL Market Report (an exclusive report available only from MORE, REALTORS®) shows, home sales declined slightly (1%) during the same period and the inventory remains low with a listing supply of just 2.74 months.
As the STL Market Chart at the bottom illustrates (also exclusively available only from MORE, REALTORS®), home prices in Jefferson County have had the normal, seasonal, fluctuations but have been steadily trending upward over Continue Reading →
By Dennis Norman, on October 25th, 2019 There were 13,181 homes sold in St Louis County in the 12-month period ending September 30, 2019, a decline of 3.2% from a year ago when there were 13,618 homes sold in the prior 12-months. For September, the home sale trend ticked upward slightly and has been fairly steady the prior 4 months.
Prices on the rise and inventory is low in St Louis County..
As the STL Market Report for St Louis County below the chart shows, there is just a 2.45 month supply of homes for sale in St Louis County and the median price of homes sold Continue Reading →
By Dennis Norman, on October 24th, 2019 The median price of homes sold in St Charles County during the past 12-months was $243,900, an increase of 6.09% from the prior 12-month period when the median price was $229,900. As the STL Market Report (an exclusive report available only from MORE, REALTORS®) shows, home sales declined over 5 percent during the same period and the inventory remains low with a listing supply of just 2.37 months.
As the STL Market Chart at the bottom illustrates (also exclusively available only from MORE, REALTORS®), home prices in St Charles County have had the normal, seasonal, fluctuations but have been steadily Continue Reading →
By Dennis Norman, on October 24th, 2019 There were 3,379 homes sold in Jefferson County in the 12-month period ending September 30, 2019, a very slight decline of about 1% from a year ago when there were 3,413 homes sold in the prior 12-months. For the past three months, the 12-month home sales trend in Jefferson County has been amazingly consistent, with data for July and September being identical and August being off by just 1 home sale.
Prices on the rise and inventory is low in Jefferson County..
As the STL Market Report for Jefferson County below the chart shows, there is just a 2.75 month Continue Reading →
By Dennis Norman, on October 23rd, 2019 The median price of homes sold in the St Louis 5-County Core Market during the past 12-months was $205,000, an increase of 5.13% from the prior 12-month period when the median price was $195,000. As the STL Market Report (an exclusive report available only from MORE, REALTORS®) shows, home sales declined nearly 3 percent during the same period and the inventory remains low with a listing supply of just 2.53 months.
As the STL Market Chart at the bottom illustrates (also exclusively available only from MORE, REALTORS®), home prices in the St Louis 5-County Core Market have had the normal, Continue Reading →
By Dennis Norman, on October 23rd, 2019 There were 5,755 homes sold in St Charles County in the 12-month period ending September 30, 2019, a decline of 5.2% from a year ago when there were 6,070 homes sold in the prior 12-months. This is the lowest 12-month trend since February 2016 when there were 5,676 homes sold in the prior 12-months.
As the chart below illustrates, even with the declining trend in home sales in St Charles County, it is still significantly higher than back in 2014 and 2015.
Lack of listings in St Charles could be part of the problem…
As the STL Market Report for Continue Reading →
By Dennis Norman, on October 19th, 2019 The St Louis real estate market is slowing down somewhat as it does every year around this time, but the market still looks good. Low-interest rates continue to offset some of the cost of the increases in home prices that have occurred. 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.
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By Dennis Norman, on October 15th, 2019 St Louis is the top marketing for flipping homes, according to an article published yesterday on Realtor.com. It’s not all just flipping activity however in the article a very notable and credible St Louis industry source (unabashed self-promotion) stated that “flipping is more common in homes in the $175,000-plus range, while many of those listed for $125,000 and less are being turned into rentals, says Norman.”
The Realtor.com article gave an overview of the market data I produced for them so I wanted to share the market data behind the overview.
St Louis Neighborhoods With Large Investor Presence:
63137 Zip Continue Reading →
By Dennis Norman, on October 11th, 2019 Home sales in the St Louis 5-County Core Market for the 12-month period ended September 30th, 2019 were down just over 3% from the same period a year ago. During the same period, home prices in the St Louis 5-County Core market increased a little over 5% as the report below from MORE, REALTORS shows.
Inventory of homes for sale still favors sellers…
As the report shows, there is just a 2.44 month supply of homes for sale in the St Louis core market which means the St Louis market is still very much a seller’s market.
Search St Continue Reading →
By Dennis Norman, on October 7th, 2019 One story homes, often referred to as “ranch-style”, have always been popular, especially with ageing home buyers that don’t want stairs. With a large number of baby boomers that have become empty nesters, many of them are downsizing and one-story homes are often their style of choice as well. Whether this demand is the reason or not, one-story homes in St Charles County have outpaced 2-story homes in terms of home price appreciation over the past 10-years.
As the charts below show, one-story homes in St Charles County show, have increased in price from a median sold price of $116 Continue Reading →
By Dennis Norman, on October 5th, 2019 For the 12-month period ended September 30, 2019, there were 26,775 homes sold in the St Louis 5-County core market, down 3.2% from the same period a year ago, according to the latest data from MORE, REALTORS. As the chart below illustrates, home sales in St Louis have, for the most part, been trending downward since peaking in May 2018 with 27,830 homes sold in the 12-month period ending that month.
Search St Louis Homes For Sale Search St Louis Upcoming OPEN HOUSES St Louis Home Sales Trend – Past 5 Years
(click chart for live Continue Reading →
By Dennis Norman, on September 27th, 2019 The question in my headline is one of those questions that in the real estate community, and with most homeowners, would elicit a response something like “the quality of the school district has a major impact on the housing market, duh!”. While I don’t think anyone would argue that having quality public education available to everyone in all areas is important, I’m just talking data here and looking at it from the real estate perspective. So, with that in mind, I decided to use one of the reports produced by proprietary software created by MORE, REALTORS® and based upon MLS Continue Reading →
By Dennis Norman, on September 26th, 2019 Home affordability improved in the St. Louis metro area during the 3rd quarter, with 4 of the 7 largest counties seeing an improvement in their affordability index from the prior quarter and 5 of the 7 seeing an improvement in affordability from a year ago, according to the latest data from ATTOM Data Research.
The greatest improvement in affordability was in Franklin County.
As the table below shows, Franklin County saw a 12% improvement in housing affordability from the prior quarter and an 11% improvement from a year ago. Jefferson, St Charles and St Clair (IL) County saw improvements in Continue Reading →
By Dennis Norman, on September 25th, 2019 Homes in Crestwood sold faster in the past 30 days than in any other city in the St Louis MSA, according to the latest data available from MORE, REALTORS®. Homes that closed in the past 30 days in Crestwood were on the market an average of just 21 days.
As the list below shows, 7 of the 10 fastest-sold cities in the St Louis MSA were in St Louis County, 2 in St Charles County and 1 in Jefferson County.
Search St Louis Homes For Sale Search St Louis Upcoming OPEN HOUSES Fastest SOLD Cities In The St Continue Reading →
By Dennis Norman, on September 8th, 2019 Yesterday, I shared information showing the home sales trend for the 5-county core St Louis housing market declined 3% but today am going to drill down a little further into the data. I wanted to look at the home sales trend in the 5 individual counties that make up the core market to see which are performing better or worse than the others.
All 5 counties had a decline in their home sales trend in August that was similar to the 5-County Core market, however, the extent of the change varied somewhat. St Charles County’s home sales trend, as our Continue Reading →
By Dennis Norman, on September 7th, 2019 For the 5-county core St Louis housing market, there were 26.047 homes sold during the 12-month period ended August 31, 2019, a decline of 3% from the 12-month trend for the prior month. As the chart (a proprietary product developed by MORE, REALTORS to help keep its agents and clients on top of market conditions) below shows, there were 27,753 homes sold during the 12-month period ended August 31st of 2018, so the current period sales of 26,047 homes represents a 6.1% decrease from the same period a year ago.
Search St Louis Homes For Sale Search St Continue Reading →
By Dennis Norman, on August 28th, 2019 You are probably saying I’m nuts to be saying that a home in St Louis costs less today than it did 13 years ago, back in 2006, but, note I said the “real cost” of a home. Since nearly all people buying a typical home in St Louis are going to do so with a mortgage, I think to really determine the cost of a home, and certainly, it’s affordability, we have to look deeper than just the price. Therefore, as the table below shows, I analyzed the cost of a home in St Louis during two periods of time, Continue Reading →
By Dennis Norman, on August 23rd, 2019 The St Louis real estate market is still going strong and interest rates are dirt cheap! Not much has changed over the past few months in the St Louis housing market in terms of home prices and sales, prices continue to rise at normal, healthy rates and sales continue along at a rate a little shy of last year. What has changed dramaticaly over the past 9 or 10 months however, are interest rates. The have dropped by a third and in this months market update video I do a little math and show just how much that impacts home Continue Reading →
By Dennis Norman, on August 8th, 2019 St Louis may be the 8th most affordable metro area in the country to buy a home, but it also has areas where home prices are much higher as well. The median price of homes sold in the St Louis metro area during the past 12-months is $184,500 however the average price of homes sold within the past 12-months has exceeded this in 85 of the 205 municipalities within the St Louis MSA.
Below is our list of the 30 cities with the highest average price of homes sold during the past 12 months. St Louis County has the majority Continue Reading →
By Dennis Norman, on August 3rd, 2019 Yesterday I identified the Zip Code in St Charles County with the hottest real estate market so today I’ll do the same for Jefferson County. I’ll save the long explanation I gave yesterday though about the importance of not looking at just one piece of data, how it takes a qualified agent with good data to really determine the health of a market, etc. If you missed that, you can get it in yesterdays article.
What is the hottest market in Jefferson County today?
Based upon some of the data contained in the charts and tables below, I would have Continue Reading →
By Dennis Norman, on August 2nd, 2019 Which Zip Code in St Charles County is home to the hottest real estate market today? Well, it depends…
63376 based upon the zip code where homes are selling the fastest 63376 based upon where the inventory of homes for sale is the lowest 63367 based upon trending home sales 63341 based upon home price increases over the past year
I could go on, but the point I wanted to illustrate here is that there is no one piece of data, or one list or chart that is going to accurately depict what the “best” market is, or even the Continue Reading →
By Dennis Norman, on August 1st, 2019 Yesterday afternoon, the Federal Reserve released a statement that was quite a vote of confidence for how the economy is doing. The Fed Reserve’s statement included “…the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low.” and went on to say “Market-based measures of inflation compensation remain low;”.
As a result of the positive economic conditions, the Federal Open Market Committee announced it would lower the target range for the federal funds rate to 2 to 2-1/4 Continue Reading →
By Dennis Norman, on July 27th, 2019 The St Louis housing market has been low on inventory of homes for sale in many areas and many price ranges for the past couple of years. Even as the summer market is down to the last few weeks, we still find the market short on listings in many markets. With the inventory of homes for sale low, the market definitely favors sellers.
Our firm publishes a list showing the current inventory of homes for sale (in terms of months supply based upon the most recent sales trend) and below I show the top 10 St Louis area zip codes Continue Reading →
By Dennis Norman, on July 13th, 2019 The St Louis real estate market continues to show strength and favors sellers, however, buyers have shown they are price-sensitive. While most of the St Louis market remains a seller’s market based upon the lack of inventory for sale, this does not mean (and the data backs it up) that it’s a blank check for sellers. Buyers in the market appear to be savvy and are price sensitive. In fact, one frustration I hear from agents with over-priced listings is that, not only do they only have few showings, they are not receiving offers. I think the issue is Continue Reading →
By Dennis Norman, on July 12th, 2019 Year to date, through the end of June, there were 12,814 homes sold in the St Louis 5-County Core market, a decline of 4.3% from this time last year when 13,389 homes had sold. This marks the lowest YTD home sales through June since June 2015, when there were 12,110 homes sold. As the second chart below illustrates, the St Louis home sales trend (trailing 12 months and represented by the dark green line) peaked in October 2018 with 26,032 homes sold in the prior 12 months but then stalled and has begun a slight downward trend which continues with Continue Reading →
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