St Louis Real Estate Search

Top 10 St Louis Cities Where Homes Are Selling The Fastest

Homes that sold in Maplewood, Missouri and closed within the past 30 days took an average of just 13 days to sell, putting Maplewood in the number 1 slot of Fastest Sold cities in the St Louis MSA.  As the table below shows, the cities that made the top 10 list are scattered throughout the area from Granite City, Illinois to Washington to Hillsboro as well as several places in between.

If you are a homeowner thinking of selling and see your city on this list, now would be a really good time to consider listing your home for sale!

Sell Your Home For The Highest Price In The Least Amount of Time!  See how- STLSellersAdvantage.com 
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10 Fastest SOLD Cities In St Louis Metro Area in Past 30 Days

(click on table for complete, live list)
10 Fastest SOLD Cities In St Louis Metro Area in Past 30 Days

Number Of St Louis Home Flips Declines in 2018 From Year Before

There were 3,143 home “flips” in the St Louis metro area during 2018, according to data just released by ATTOM Data Research.  With 7.4% of homes sold in St Louis being a flip in 2018, this is a decline of 3.7% from a year ago.  The peak number of flips in St Louis came in 2005 when there were 4,426 homes flipped.

What is meant by “flipped” home?

ATTOM Data considers any home or condo that was sold during the third quarter of this year in an arms-length sale that had previously had an arms-length sale within the prior 12 months as well as a “flip”.  Since homeowners don’t tend to buy a home only to turn around and resell it within a year, when this does occur it is typically the result of an investor buying a property, renovating it, then reselling it.


St Louis House Flips 2018

St Louis House Flips 2018

St Louis House Flips Average Gross Profit

St Louis House Flips Average Gross Profit




St Louis New Home Construction Continues To Decline

There were 4,471 building permits issued for new homes in the St Louis area during the 12-month period ended January 31, 2019, a decline of 5.20% from the prior 12-month period when there were 4,716 permits issued, according to information just released by the Home Builders Association of St Louis & Eastern Missouri (St Louis HBA).

As the table below shows, St Charles County continues to see the largest decline in new home construction with 1,489 new home permits issued in the most recent 12-month period, down 13.03% from the prior 12 month period. Four counties in the St Louis area have seen gains in permits, with Warren County being the big winner in terms of percentage increase with nearly a 30 percent increase in new home permits for the period!


St Louis New Home Building Permits Issued – Jan 2019

St Louis New Home Building Permits Issued - Jan 2019


Is The St Louis Housing Inventory Down 25 Percent Or Up 10 Percent? The Importance Of Understanding The Data.

I promise not to turn this article into one of my boring, lengthy diatribes that only a data nerd could enjoy, however, I do want to discuss something that I think is very important for all home buyers, sellers and investors.  Given that today there is a plethora of “data” and “information” available to us thanks, in large part, to the internet, and that home buyer, sellers, and investors (as well as the real estate agents working with them) make decisions based, at least in part, to those things, it is imperative to know you have the right data and that it is the relevant data or information.  Making a large financial decision, such as one related to buying or selling a house, on inaccurate, misunderstood or mispresented date or information, can literally cost you thousands of dollars.

A quick, and current, example…The St Louis Housing Inventory…

A report was released this past week from within the real estate industry that indicated there was an “inventory of homes for sale” of 3,272 in the City and County of St Louis combined and that this was “down 24.9% from 2018“.  I saw many well-meaning real estate agents copy and paste the graphic or data on Facebook with messages that, if a buyer would create a little bit of a panic or concern on “missing out” and, if a seller, thinking competition is down so now is a good time to list your home and name your price.

St Louis Home Sales Trend Remains Flat – 2019 Outlook Remains Good

The real estate market in St Louis continues to do well although the home sales trend, as our chart below illustrates, has flatlined over the past year.  On our chart, we plot the home sales for the prior 12 months for each month thereby making it easier to see trends in the marketplace.  As you can see, over the past 5 years, the trend line consistently increased from about this time 5 years until about a year ago where it leveled off.  This is not surprising as it is not realistic for our market in St Louis to be able to support that growth rate indefinitely.  St Louis has had very little population growth over the past several years, and everyone only moves so often, so there is only so much sales growth we can sustain.

St Louis Home Prices May Hit Resistance But So Far So Good..

There has been a lot of talk lately about a “price correction” coming in the housing market and I have discussed the possibility of it for the St Louis market as well.  However, as the bottom chart shows, St Louis home prices during the past 5 years have been very consistent with an upward trend over time with the normal seasonal fluctuations along the way.  Looking at the most recent couple of months as well as the past year as a whole doesn’t reveal any change in the trend at this point. Of course, this is something that can change quickly and I’ll be keeping an eye on it in the coming months but for now, things still look good for 2019 here in St Louis.

Nearly All of St Louis MSA Still A Sellers Market

Even though it’s that time of year when the real estate market in St Louis slows down, we are still in a seller’s market in most of the St Louis metro area based upon the supply of homes for sale.  Historically, a 6-month supply of homes for sale would be considered a “balanced” market, not favoring sellers nor buyers.  If the supply drops below 6 months, it favors sellers as there is less competition for them and above 6 months it favors buyers.

Currently, 14 of the 17 counties that make up the St Louis MSA have a supply of homes for sale under 6 months.  Two of the three counties that favor buyers, Macoupin and Calhoun, are in Illinois with St Francois County being the only Missouri County and it just barely made the list with a 6.26 month supply.

Mortgage Interest Rates Drop to Lowest Rate In Over a Year

After mortgage interest rates on a 30-year fixed rate mortgage nearly hit 5 percent back in November, they have steadily declined and this past week fell to an average of 4.37% according to the Freddie Mac Primary Mortgage Market Survey.  Last weeks 30-year fixed rate mortgage rate of 4.37% was the lowest average rate report by the survey since Feb 8, 2018, when the average rates were 4.32%.

The outlook for mortgage interest rates looks promising as well with the most recent Fannie Mae Housing Forecast predicting the 30-year fixed rate will stay at 4.5% through the end of 2020.

30-Year Fixed Rate Mortgage Average In The U.S.

click on chart for live, interactive chart
30-Year Fixed Rate Mortgage Average In The U.S.

The Better Together Plan And St Louis Real Estate

At the end of last month, Better Together, a not-for-profit group aimed at combining St Louis City and St Louis County into one big “Metro City”, released their plan for doing so. To say this is a hot topic among residents of those two areas would be an understatement.

Proponents of the plan say it will make St Louis the 9th largest city in the U.S., will streamline government, dilute the city crime stats making them appear to be better and, in the end, lead to increased economic development and growth for the region.

Opponents, such as the Municipal League of Metro St Louis argue that their (Better Together) plan is unconstitutional (hence why the Missouri Constitution must be changed to permit it) and that “the great divorce”, the label applied to when the city of St Louis separated from St Louis County back in 1876 was done using the Board of Freeholders, so if the two want to get back together, the same approach should be done to accomplish it (Board of Freeholders).   Additionally, the opponents argue that allowing the entire state to decide the fate of the people of these two counties is wrong, that historic cities (such as Florissant and Kirkwood) will be disbanded and, in the end, the underlying problems that hinder growth here won’t’ really be addressed.

The proceeding is, of course, my very brief synopsis of the two views as I see them so I would suggest you research the matter for yourself and have included some resources below to do just that.

What the Better Together Plan means for St Louis home prices.

Continue reading The Better Together Plan And St Louis Real Estate

St Louis Real Estate Market Update VIDEO – February 2019 – Have Home Prices Risen Too Much?

The St Louis real estate market is off to a little slower start this year and there are some indicators that we may be in for a little price correction in some areas. 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!  
Thinking of selling and want to know if your neighborhood is a seller's market? Contact us and we'll  answer that question for you.
You can now subscribe to our ITUNES Podcast Channel to receive our updated market videos via podcast automatically each week! Just click here, then click on "Subscribe Free".) St Louis Real Estate Market Update Video - St Louis Home Prices

Sell Your Home For The Highest Price In The Least Amount of Time!  See how- STLSellersAdvantage.com 
Save Commission On Your Home Sale Without Sacrificing Service! See how- FairCommissionRates.com

St Louis Home Sales Off To Slower Start In 2019 While Prices Rise

Many of the forecasts for home sales this year call for either a slight decline from last year or about the same as last year, in terms of home sales.  I think the St Louis market will probably see about the same number of homes sold in 2019 as we did in 2018, it may just come with a little bit of a price adjustment. So, while I don’t like looking at home sales “year over year” for one month, I’m going to make the exception today and include that.  As the first chart below shows, in January there were 1,282 homes sold in the St Louis 5-County core market (non-distressed home sales) which is down 5% from January 2018 when there were 1,352 homes sold but is up nearly 2% from January 2017 when there were 1,259 homes sold.

Underwater Homeowners In St Louis Drops To Lowest Rate In Two Years

During the fourth quarter of 2018, 14.2% of the homeowners in St Louis with a mortgage, were underwater on their mortgage, meaning they were in a negative-equity postion, according to data just released by ATTOM Data Research.  As the table below shows, this is the lowest rate since the 4th quarter of 2017 when the St Louis undertwater homeowner rate was at 13.8%.  On a national level, just 8.8% of homeowners with a mortgage are underwater which puts the St Louis rate at 161.5% of the US rate.

St Louis Underwater (Negative-Equity) Homeowners – 2013-2018

St Louis Underwater (Negative-Equity) Homeowners - 2013-2018