Yes, it is October and yes, home sales, and prices, do tend to soften around this time of year as we head into the winter months, but, having said that, it can still be a great time to sell a home, especially if you are in one of the areas I’ve identified below! Why? Well, for one, there is VERY LITTLE COMPETITION but good demand from buyers. So, even though the St Louis housing market, including home prices, can be following suit with the weather and cooling off, when you are in a market with good demand and no competition, you can sell your home for more than you could under normal conditions this time of year. Plus, it’s a lot easier to please a buyer and motivate a buyer to act when there aren’t many homes to choose from and the buyer feel’s they’ll miss out if they don’t act quick enough.
The St Louis markets where NOW is the time to sell your home!
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While this is not intended to be a comprehensive list of every St Louis area or neighborhood where now may be an ideal time to consider selling your home, it’s some of the ones that jump out me as I review the market data that I show at the bottom of this post:
- Maplewood – It wasn’t that long ago that Maplewood was shunned by some buyers due the perception it was primary a rental community, given that about 2/3 of it’s residents were tenants a decade or so ago but things have changed! Maplewood has been discovered and is now at the top of the “hot seller’s market” list! Over the past year, homes have sold in a median time of just 7 days and there is currently just over under a one month supply of homes for sale.
- St Peters – Like the rest of St Charles County, St Peters has had a strong housing market for a while and is at the top of the list for hot seller’s markets in St Charles County. Homes there have selling for nearly 100% of asking price and only taking about 11 days to sell!
- Crestwood – With just under a 1.5 month supply of homes on the market, homes selling for a median of 100% of the current list price at time of sale over the past year and rising prices, it doesn’t get much better than this for sellers!
- Richmond Heights – Prices have softened in Richmond Heights with homes selling last month for a median price of $195,000, less than the $239,900 median price for the past 12 months, but inventory is low and demand is high! So, properly prices homes will sell quick!
- Ballwin – Homes sold last month for a median of 100% of the asking price, have sold for a median of 99.33% of the list price over the past 12 months, and have the time to sell has been a median of just 6 days. The inventory has creeped up to a 1.8 month supply but Ballwin is still a good market for sellers!
- Webster Groves – Webster Groves is slipping down the list…not long ago there was just a one month supply of homes for sale, but now there is a two month supply indicating a slow down in sales. No doubt one of the causes of that slow down is prices rising too fast and perhaps sellers getting a little greedy. Currently, the median list price of active listings is $314,950 about 26% higher than the median price of homes sold in the past 12 months of $250,000 and 35% higher than the median price of homes sold last month of $234,900. Seller’s in Webster receiving good counsel and advice from an agent to properly price their home will have no problem competing against over-priced listings.
