St Louis Real Estate Search

Recent Articles

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