Since the announcement of the Better Together plans to merge the County and City of St Louis together into one big “Metro City”, there has been a lot of talk about the impact this would have on the St Louis real estate market. I’ve had several conversations with people in the real estate industry that feel St Charles County, as well as some of the other surrounding counties, will benefit if the Better Together plan succeeds. Their optimism is based upon the belief that, given what appears to be a tremendous groundswell of opposition to the plan from residents of both St Louis City and St Louis County, that, if it passes, many will flee the new Metro City.
Obviously, only time will tell as to whether the Better Together Plan will even get the required number of signatures on the petition, if so, then whether the voters pass it. It is only then, in the subsequent months and years afterward that we will really be able to see just what impact, favorably or negatively, it has on the St Louis real estate market. For now, however, it seemed a good time to take a look at the St Charles County and St Louis County real estate markets and compare them.
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St Charles County Is The Home Price Appreciation Winner…
As the chart below illustrates, the median price of homes sold in St Charles County (non-distressed sales-red line) has increased by 32.5% over the 10-year period of 2009 to present, while St Louis County home prices increased by just 14% during the same period. In 2009, the median price of homes sold in St Charles County was $179,900 and, thus far, in 2019 it is $238,500. For St Louis County, the prices were $166,500 and $189,900 respectively.
A Recent Dip In St Louis County Home Prices…
As the chart shows, in rather dramatic fashion, home prices in St Louis County have fallen quite a bit during 2019, declining 10.6% from a median price of $212,500 for 2018 to $189,900 so far this year.
St Charles County vs St Louis County Home Price Appreciation – Past 10 Years
(click on chart for a live chart with real-time data)
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