As 2015 quickly nears the end, the St Louis real estate market continues to perform well (no doubt fueled, in part, by the unusually warm weather we are having) with year-to-date home sales through the end of November up nearly 9 percent from the same time last year and St Louis home prices up almost 4 percent from the same time last year.
Is the market “shut-down” for the season?
One of the questions that comes up quite frequently this time of year, particularly by homeowners considering selling, or with recently expired listings, if it makes any sense to go back on the market now or just wait for the beginning of the near year or even spring. Home buyers ask also whether now is a good time to buy a home. While there is no one answer for these questions as every market and price range is different and buyers and sellers situations are different, in general this time of year can be good for both buyers and sellers.
Why now can be good for home buyers…
It’s good for home buyers in the sense that, while there are fewer homes on the market to choose from, there is a lot less competition out there and, as statistics support, home prices do fall somewhat around this time of year and through the end of January.
This time of year has some benefits for sellers as well…
From the sellers perspective, now can be a good time to sell due to the fact there is less competition and, while there are fewer buyers in the market, the ones that are there this time of year, tend to be serious buyers motivated to buy. As I mentioned on the buyers side, prices are lower now than they will be in most markets come spring but, given the lower inventory, sellers will not have as much competition which way allow their homes to “show better” than they will when there is more competition in the spring. With fewer homes to choose from at this time of year, buyers may settle for a home that falls a little short of all of what they would like it to have that, come spring, a home with those additional features may very well be on the market.
Whether you are thinking of buying or selling and would like me to look at your situation and your market to determine the best strategy, just call, or text me, at 314.332.1012 and I’ll be happy to help!
St Louis Home Price Trends By City/Municipality
St Louis Home Price Trends By Zip Code
St Louis Sellers Markets
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.
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