St Louis Real Estate News - Page 44 of 109 - Daily St. Louis real estate news, market analysis, home prices, and mortgage rate updates from local industry professionals.

When Is The Best Time To Sell Your Home?

By Dennis Norman, on March 29th, 2018

If I had a dollar for everytime someone asks me when is the best time to sell their home I would probably not have to be writing this article today and instead would be relaxing somewhere warm :). My initial answer, while somewhat snarky, is always the same “when you have a buyer“. Actually though, just because there is a buyer doesn’t mean you are realizing the best price and terms as may be possible.

It’s not really possible to be totally objective when analyzing this as no more which data I choose to use or consider is going to Continue Reading →

St Louis Home Prices Increase 3.8 Percent In Past Year While Sales Increase About Half As Much

By Dennis Norman, on March 24th, 2018

Home prices in the St Louis 5-County core market increased 3.67 percent in the 12-month period ending February 28, 2018 to a median price of $186,500 from $179,900 for the prior 12-month period. During the same period, home sales in the St Louis 5-County core market increased 1.89% to 27,839 homes sold from 27,323 homes sold during the prior 12-month period.

As our table below shows, there were 1,489 homes sold during February 2018, and are currenlty 4,921 homes listed for sale, computing into a 3.3 month supply of homes for sale, continuing to favor sellers due to the low Continue Reading →

Is The Listing Agent Required To Inform Your Buyers Agent Of Multiple Offers?

By Dennis Norman, on March 18th, 2018

In today’s low-inventory real estate market here in St Louis, it’s common for would-be buyers to miss out on a house they want even when they make a strong offer only to find out they got beat out by another buyer offering a higher price or better terms. This is particularly true for people trying to buy a foreclosure with increasing demand and decreasing supply, it is not uncommon to have 5, 10 or even more offers for the newly listed foreclosed property.

Does the listing agent have to inform you of multiple offers?

No one Continue Reading →

Do Open Houses Sell Homes?

By Dennis Norman, on March 17th, 2018

Ask a dozen real estate agents what their thoughts are on the effectiveness, or importanced, of open houses for sellers and you will likely get about a dozen different opnions. Opinions from agents on open houses include: open houses are vital to properly exposing the listing to the market; they are good practice for newer agents; they are a great opportunity to meet potentital buyer clients; they are done to appease a seller; they are a security risk to the homeowner.

So, do open houses sell homes? Are open houses necessary to sell your home?

Personally, I don’t believe open Continue Reading →

St Louis Real Estate Market Update VIDEO – March 2018

By Dennis Norman, on March 15th, 2018

The real estate market in St Louis, after the first two months, continues to see good price appreciation with home sales on about the same pace as this time last year. 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 Continue Reading →

Is The West St Louis County Luxury Market Slowing Down?

By Dennis Norman, on March 8th, 2018

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 →

Homes Sold Last Month In St Louis Took Half The Time To Sell Than They Did Four Years Ago

By Dennis Norman, on March 3rd, 2018

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 →

St Louis Neighborhoods Where Homes Sold The Fastest Last Month

By Dennis Norman, on March 1st, 2018

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 →

St Louis Real Estate Market Update VIDEO – February 2018

By Dennis Norman, on February 27th, 2018

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 St Louis Area Trending Upward In Most Areas – St Charles County Sees Decline

By Dennis Norman, on February 23rd, 2018

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 →

The Impact of the West Lake Landfill Superfund Site On Surrounding Home Vales

By Dennis Norman, on February 21st, 2018

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 →

Number of Seriously Underwater St Louis Homeowners Down Fifty-Percent From 4 Years Ago

By Dennis Norman, on February 9th, 2018

The percentage of homeowners with a mortgage in the St Louis MSA that were seriously underwater in the last quarter of 2017 was 13.8%, about half the rate from 4 years earlier, according to data just released by ATTOM Data Solutions. For this report, a homeowner is considered “seriously underwater” when the total of their home mortgage(s) is equal to, or greater than, 125% of their home’s current value.

Also shown on the table below is the percentage of equity-rich homewners in the St Louis MSA. An “equity-rich” homeowner is at the other end of the spectrum from an underwater Continue Reading →

Looking Back – 2017 Was A Good Year For Real Estate In The St Louis Area

By Dennis Norman, on February 4th, 2018

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.

Continue Reading →

St Louis Area Cities Where Homes Sold The Slowest In 2017

By Dennis Norman, on January 31st, 2018

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 →

St Louis Area Cities Where Homes Sold The Fastest In 2017

By Dennis Norman, on January 30th, 2018

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 →

St Louis Real Estate Market Update VIDEO – January 2018

By Dennis Norman, on January 23rd, 2018

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 →

Dr. Martin Luther King, Jr. Paved The Path For Fair Housing

By Dennis Norman, on January 15th, 2018

Dr. Martin Luther King, Jr. is a name synonymous with civil rights who, along with his followers, led to the passage of the Civil Rights Act. Through the efforts of the civil rights movement, Dr. King and others were able to get the attention of our nation resulting in President John F. Kennedy, in a nationally televised address on June 6, 1963, urging the nation to ” take action toward guaranteeing equal treatment of every American regardless of race.” Shortly after his address to the nation, President Kennedy proposed that Congress consider civil rights legislation that would address rights in Continue Reading →

Want To Sell Your Home? We Know The Name Of The Likely Buyer!

By Dennis Norman, on January 4th, 2018

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 →

St Charles County Home Sales Trend Downward Over Past 12 Months- Prices Trend Upward

By Dennis Norman, on December 31st, 2017

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 →

St Louis City & County Home Sales Trend Downward Over Past 12 Months- Prices Trend Upward

By Dennis Norman, on December 30th, 2017

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 →

Top Ten St Louis Zip Codes Where Homes Sell For Highest Price Per Foot

By Dennis Norman, on December 28th, 2017

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 In St Louis Continue Downward Trend

By Dennis Norman, on December 27th, 2017

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 →

St Louis Foreclosure Rate Falls Over 6 Percent From Year Ago

By Dennis Norman, on December 21st, 2017

The real estate market in St Louis continues to improve and grow stronger, evidenced by the declining foreclosure rates being reported by ATTOM Data Solutions. For November 2017, there were 857 foreclosure actions taken on housing units within the St Louis MSA, a decline of 17.52% from the month before and a decline of 6.54% from a year ago.

St Louis MSA Foreclosure Rate – November 2017

(We work hard on this and sure would appreciate a “Like”)[iframe http://www.facebook.com/plugins/like.php?href=https%3A%2F%2Fwww.facebook.com%2FStLouisRealEstateNews&send=false&layout=standard&width=50&show_faces=false&font&colorscheme=light&action=like&height=35&appId=537283152977556 100 35 ] [xyz-ips snippet=”Foreclosures-For-Sale-and-Homes-For-Sale”]

Continue Reading →

St Louis Homes Are Still Selling Fast! What Areas Are Selling the Fastest?

By Dennis Norman, on December 21st, 2017

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 Real Estate Market Update VIDEO – December 2017

By Dennis Norman, on December 14th, 2017

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!

Continue Reading →

Home Flipping In St Louis Hits Lowest Level In A Year

By Dennis Norman, on December 8th, 2017

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 →

St Louis Home Prices Have Increased Thirty-Four Percent In Past 6 Years….Too much, too fast?

By Dennis Norman, on December 3rd, 2017

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 →

Eight-Five Percent Of People That Move In St Louis Stay In Missouri…Only 7 Percent Move out of Midwest

By Dennis Norman, on November 25th, 2017

The US Census Bureau recently released “Mover Rate” data which showed who moves, how frequently, the demographics of those who have moved as well as the geography of where they move. While they don’t have the data published at the city or county level, I did pull the data for here in the Midwest Region of the country and have compiled some of the more interesting tidbits in tables at the bottom of this article. (We work hard on this and sure would appreciate a “Like”) Search St Louis Homes For Sale All The St Louis Open Houses Scheduled For Continue Reading →

Black Friday Home Sales In St Louis

By Dennis Norman, on November 24th, 2017

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 →

Happy Thanksgiving!

By Dennis Norman, on November 23rd, 2017

By the President of the United States of America A ProclamationIt has pleased Almighty God to prolong our national life another year, defending us with His guardian care against unfriendly designs from abroad and vouchsafing to us in His mercy many and signal victories over the enemy, who is of our own household. It has also pleased our Heavenly Father to favor as well our citizens in their homes as our soldiers in their camps and our sailors on the rivers and seas with unusual health. He has largely augmented our free population by emancipation and by immigration, while He Continue Reading →