My business partner was out yesterday previewing homes in West St Louis County and had a discussion with a listing agent in the area that mentioned the large supply homes for sale in the upper price ranges. Considering about all we hear about today is how there is a shortage of inventory and homes are selling so fast, this conversation about growing inventory seemed out of sorts. Before I go further, I should mention that the “mainstream” market is almost always going to perform better than the luxury market for a variety of reasons including the size of the buyer Continue Reading →
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Homes that sold in the St Louis area last month sold for a median price of $123 per foot and took a median time of just 35 days to sell, according to the latest data from MORE, REALTORS. As the 5-year chart below illustrates, the median price of homes sold in St Louis have steadily increased over the period, from $93 per foot in February 2014, to $123 per foot last month, an increase of 32.3%. During this same period, the median time it took for homes to sell declined from 70 days in February 2014 to just 35 days Continue Reading → 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 → 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 → 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 → 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 → 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. 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 → 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 → 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 → 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 → 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 → 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 → 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 → 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 → 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 → 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! 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 → 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 → 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 → 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 → 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 → 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 → James Bullard, President, and CEO of the Federal Reserve Bank of St Louis gave a rather flattering report on St Louis during a presentation earlier this month. Speaking at the Bi-State Development annual meeting, Mr. Bullard’s presentation, “Living Standards across U.S. Metropolitan Statistical Areas” compared income, home prices as well as other economic data of 381 MSA’s across the country. Highlights from the presentation: St Louis ranks 7th of the 53 largest MSA’s for the ratio of real per capita personal income to U.S. average with a 1.13 (table 1 below) St Louis was one of just two cities (Nashville Continue Reading → The city and county of St Louis, collectively, accounted for nearly two-thirds of the home sales in the St Louis core-market during the past 12 months. There were 16,790 homes sold in the city and county of St Louis during the period October 1, 2016, through September 30, 2017, 61.0% of the 27,517 total number of homes sold in the 5-County Core St Louis real estate market during the period. Home prices spike in St Louis City/County… The median price of homes sold during the 12-month period ending September 30, 2017, was $174,900, a rather modest, but sustainable, 2.94% from Continue Reading → Is there a market correction coming to the St Louis real estate market? Find the answer, data behind it, 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 Louis area! Sell Your Home For The Highest Price In The Least Amount of Time! See how- Continue Reading → St Charles County had the biggest improvement in the housing affordability index during the 3rd quarter of this year of any major County in the state of Missouri, according to a newly released report from Attom Data Solutions. St Charles County, with an affordability index of 109 (above 100 is more affordable than historic average, below 100 is less affordable), saw a 6.5% improvement in housing affordability from the prior quarter but a 2.4% decline from a year ago when the housing affordability index for St Charles County was 112. The table below shows the housing affordability index for all Continue Reading → For the 12-month period ending August 31, 2017, as the table below shows, there were 36,753 homes sold in the St Louis MSA an increase in home sales of 3.68% from the prior 12-month period. The median price of homes sold in the St Louis MSA during the past 12 months was $170,000, an increase in home prices of 2.92% from the prior 12 month period. St Louis home sales and price summary by county (see tables below for details): St Louis City and County Home Sales Up 5.18% Home Prices Up 3.31% St Charles County Home Sales Up 3.07% Continue Reading → Home flipping accounted for 7.3 percent of all the home sales in the St Louis MSA during the 2nd quarter of this year according to a report released today by Attom Data Solutions. This is a decrease of 15% from the prior quarter when 8.6% of the homes sold were flips and is an increase of 10.6% from a year ago when 6.6% of the homes sold in St Louis were flips, according to the report. 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 Continue Reading → As we approach the fall season (officially referred to as “autumn”, it begins September 22nd) and the temperatures cool, St Louis home prices and sales are beginning to cool as well. There’s no reason for panic as this is normal due to the “seasonality” of the real estate market, however, we in the real estate business never like to see it arrive. As the tables below for the St Louis MSA, as well as the counties that make up the St Louis real estate market, show, the St Louis real estate market as a whole, is now a “cooling seller’s Continue Reading → |
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