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 price, then one would say the $5.25 bag is a better deal since it is cheaper. However, if we look at it on a price per pound basis, we see the smaller bag costs $1.75 per pound while the larger bag is only $1.60 per pound making the larger, higher priced, bag the better deal. Same goes for home prices. If we just look at the gross sales price we can get the wrong picture.
With this in mind, the table below shows the top 10 St Louis zip codes where homes sold for the highest median price per foot during the past 12-months. You probably won’t be surprised that 63105, Clayton’s zip code, is at the top of the list, although you may have guessed Ladue (63124) would be at the top. Ladue, with a median price of $241 per foot, came in 2nd behind Claytons $274 per foot median price. Coming in #10 on the list is 63117, Richmond Heights, at $194 per foot.
In the column, all the way to the right on the table you will see how much the price per foot homes sold for has changed in the most recent 12 month period from the prior 12-month period. As the table shows, the Richmond Heights area saw the greatest increase at 9.9% followed by Brentwood (63144) with 5.86%.
10 St Louis Zip Codes Where Homes Sold For The Most Per Foot From 12/01/16 Through 11/30/17
(click on table for complete, live, list)
