- Dennis Norman
For the St. Louis area 2009 marked another year of “bad” records for the housing market; record numbers of foreclosures, mortgage delinquencies as well as sales numbers and prices lower than we have seen in several years. However, as I compiled St. Louis area home sales data for 2009 and compared it to the prior two years I realized this is some positive news. It appears we are perhaps seeing the bottom of the market and a flattening of the downward trends.
Unfortunately as our national debt balloons out of control, we continue to see double-digit unemployment and for us in St. Louis a continued trend of an inability to attract new companies and jobs to the area, the housing market could quickly take a turn for the worse, but for now lets bask in the glory.
The data I compiled is for the city of St. Louis and counties of St. Louis, St. Charles, Jefferson and Franklin, and is based upon sales data obtained from the local MLS provider, Mid-America Regional Information Systems (MARIS).
Here are the highlights from my report:
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There were 20,717 homes sold in 2009, down 1.81 percent from 2008 and down 14.67 percent from 2007
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The median sales price of homes sold in 2009 was $142,000, down 5.33 percent from 2008 adn down 12.35 percent from 2007
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The average sales price of homes sold in 2009 was $170,303, down 8.84 percent from 2008 and down 16.62 percent from 2007.
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The time it took to sell a home in 2009 was an average of 82 days, down 10.87 percent from 2008 and up 1.23 percent from 2007.
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