By: Dennis Norman
Lately the news on the real estate market has been a little more optimistic and almost encouraging at times. Most of the news and stats are national or regional and, as I and others have said many, many times, all real estate is local. So what’s going on in the St. Louis market and more specifically, what is selling here?
In putting together stats for this post I included data from the following areas:
- St. Louis City
- St. Louis County
- St. Charles County
- Jefferson County
- Franklin County
The data I pulled was all on single-family homes and I did not include condos. I have nothing against condos, it’s just our market is dominated by homes so that is what I focused on.
Now, to answer the question, what homes are selling in St. Louis? The answer is, over the past year, below are the data on the average home that has sold:
- 1444 square feet
- list price $181,471
- sales price $172,226 (94.91% of list price)
- house was on the market 95 days before it sold
- over 50% of the homes sold have 3 bedrooms
In comparing the above sold data for the past year (08/01/08 through 08/01/09) to the year before (08/01/07 through 08/01/08) here are the results:
- 20424 homes sold in most recent year which is 7.7% less than the year before when 22,146 homes sold
- size of average home sold for both years is similar at 1444 sq ft most recently and 1460 the year before
- avergage sales price dropped almost 12% from $195,392 a year before to $172,226 the most recent year
- 50% or more of homes sold in both years have 3 bedrooms
Below are the stats for the average home sold in the past year by individual county:
St. Louis City:
- 1340 square feet
- list price $111,205
- sales price $104,606 (94.07% of list price)
- house was on the market 90 days before it sold
- 46.7% of the homes sold have 2 bedrooms, 35.4% have 3
St. Louis County:
- 1513 square feet
- list price $200,574
- sales price $189,401 (94.43% of list price)
- house was on the market 89 days before it sold
- 50% of the homes sold have 3 bedrooms
St. Charles County:
- 1662 square feet
- list price $208,518
- sales price $200,062 (95.95% of list price)
- house was on the market 91 days before it sold
- 57% of the homes sold have 3 bedrooms
Jefferson County:
- 936 square feet
- list price $151,904
- sales price $146,816 (96.65% of list price)
- house was on the market 96 days before it sold
- 58.7% of the homes sold have 3 bedrooms
Franklin County:
- 1322 square feet
- list price $158,888
- sales price $150,253 (94.57% of list price)
- house was on the market 134 days before it sold
- 63% of the homes sold have 3 bedrooms
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