Typically, Franklin County and Jefferson County home sales stats tend to lag behind their “closer in” neighbors of St Louis and St Charles County, however, when it comes to fastest-selling zip codes, the two outlying counties claim the number 1 and number 2 spots, respectively. As the table below shows, homes in the 63072 zip code area (Robertsville) of Franklin County are selling the fastest, based upon average days on market of existing listings which stands at 24 days as of this morning. With an average time on the market of 33 days, the High-Ridge area zip of 63049 in Continue Reading →
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The St Louis metro area has seen some population growth over the last few decades but not nearly as much as many other areas. From 1975 until last year, the population of the St Louis MSA increased 12.3% from 2,500,100 in 1975 to 2,807,338 in 2017. Of the major counties in Missouri that make up the St Louis MSA, St Charles County gained the most population increasing 248% during the same period. As the table below shows, 4 of the 5 major counties covered saw an increase in population from 1975 to 2017, although St Louis County’s increase was a Continue Reading → Below is a 10-year chart, showing the median price per foot (one of the most accurate ways to look at home prices) for each of the 5-counties that make up the St Louis core-market. As the chart reveals, there doesn’t necessarily seem to be any correlation between home appreciation and population shift. Below is a quick analysis: Continue Reading → Recently, the U.S. Census Bureau released the 2016 population estimates revealing that the city of St Louis continues to lose residents while outlying counties like St Charles, Jefferson and Franklin grow and St Louis county remains relatively stagnant. Continue Reading → It’s good when the value of your home increases, right? Yes, generally, most homeowners, look at their homes as an investment in addition to shelter for their families so they are generally happy to see the value of their investment increase. The flip side of it is, homebuyers, particularly first-time buyers, would, of course, like to see lower prices and better value in the home they buy. The thing that helps balance out these competing interests is inflation, but more specifically, the rate of income growth. Continue Reading → In the real estate community there are frequent discussions about the millennial’s and their impact on the real estate market. Since their generation makes up the largest share of the population presently, their interest, or lack thereof, in homeownership definitely has the attention of us in the real estate industry. The consensus among many in the real estate industry is that millennials don’t value homeownership as much as their baby boomer parents did, and do, however, they don’t necessarily have anything against the idea. The millennial generation seems to be more driven by lifestyle and flexibility than whether or not Continue Reading → From the outset I need to admit that this is probably a pointless article as the mindset of someone that would want to buy a luxury home ($750,000+) in St Louis County is quite different than someone that would want to buy one in the city of St Louis, and vice versa, so neither will probably be swayed in their preference by which location offers a better return on their investment. Having said that, I still thought it would be interesting to examine the market and see how luxury home buyers have fared over the years in both locations. It is common for home buyers, particularly those moving to St Louis from outside the area or perhaps moving to a different part of town than where they currently reside, to inquire about crime rates and other safety issues related to the area they are looking to move to. Today, like pretty much every other topic out there, there is a wealth of information available on the internet with regard to crime activity however sometimes it is difficult to find real data and not just “headlines” from local news stories or social media posts. Therefore, in keeping with our mission of providing up to date, accurate and trustworthy information that is relevant to homeowners, as well as buyers and sellers, we developed our own Index to make it easier to people to assess an area. Since we are in the real estate business and the people I’m talking about there are interested in home values, we wanted to have our index consider both crime rates as well as home price appreciation. As a result, our Home Appreciation & Safety (HASTM) Index was born. Continue Reading → As the chart below shows, there were 2,880 homes sold last month within the 5-county core St Louis market (city of St Louis and counties of St Louis, St Charles, Jefferson and Franklin) an increase of 6.5% from March 2016 when there were 2,705 homes sold. Continue Reading → The supply of homes for sale in St Louis continues to fall making it even more of a challenge for the home buyers out there while making it pretty easy on sellers. For the past couple of years we have seen homes, that were properly priced and marketed correctly, sell often on the first day, or within the fist few days, of coming on the market for sale. In fact, more and more it’s become common for homes to sell before actually even hitting the market officially. Continue Reading → The median price of homes sold in the St Louis core housing market (city of St Louis and counties of St Louis, St Charles, Jefferson and Franklin) was $179,900 for the past 12 months, an increase of 5.2% from the prior 12 month period when the median price of St Louis homes sold was $171,000. Continue Reading → There just aren’t enough homes for sale in many price ranges! This month, like many months before, you will see that all five counties in the St Louis core market (city of St Louis and the counties of St Louis, St Charles, Jefferson and Franklin) all have less than a 6 month supply of homes for sale (a few less than half of that), so it remains a sellers market in many areas! While the market is doing well, you will notice the trend over the past 24 months, as I describe in the video is down a little in terms of number of homes sales which is due simply the lack of homes available for sale. There doesn’t appear to be a shortage of buyers at this point, just a shortage of sellers. Continue Reading → The percentage of people in St Louis with a sub-prime credit score (below 660) has continued to improve since peaking in most St Louis area counties around 2008, according to the latest data released by Equifax. As the interactive map below shows, 30.63% of the people in the city of St Louis had sub-prime credit in the 4th quarter of 2016. This is a decline from the 4th quarter of 2008 when it was 38.42% and even down from 2006, the year of the peak of the St Louis housing market, when 34.21% of people in the city of St Louis had sub-prime credit. Continue Reading → The St Louis downtown loft market had a slow start back in the early 90’s and then picked up some steam later in the 90’s when Missouri launched its historic tax credit program. The loft market, as the chart below illustrates, peaked in 2005, stalling out before the majority of the residential hit its peak in 2006. The St Louis loft market saw a kind of double peak with prices rising in 2007 after dipping the year before, but then loft prices followed suit with the rest of the market and started a long slow decline until hitting bottom in 2011. Continue Reading → Investors that rental property may find their best returns, relative to the price of the homes they buy, in the City of St Louis, according to some county-level rental data compiled by MORE, REALTORS. As the tables below illustrate, over the past 12 months the median price of homes sold in the City of St Louis was $106.57 per square foot and the median annualized price per foot homes lease for was $11.04 which works out to a gross annual return on investment of 10.4%, the highest of the four St Louis area counties we looked at. Continue Reading → While the bulk of the St Louis area spent most of the past year as a sellers market, real estate is very local and very seasonal, so there are still neighborhoods where buyers markets exist! So where are the buyers markets? Well, they are a constantly moving target due to the fluctuations I just mentioned, however, currently, as the list below illustrates, Continue Reading → The winter months may be the “slow” season for real estate but there are plenty of areas throughout St Louis where homes are still selling fast! So, where are homes selling the fastest in St Louis? As the table below shows, the 63143 zip code area which is the Maplewood area, is currently the fastest selling neighborhood with an average of just 40 days on the market for current listings. Continue Reading → Number of Distressed Home Sales In St Louis Declines Nearly Forty Percent In 2016 From Two Years AgoThe number of distressed home sales in St Louis has been on the decline while distressed home prices have remained relatively flat. For the purposes herein, a “distressed” home sale includes short sales, foreclosures, bank-owned and government-owned homes. Thus far, as the chart below illustrates, there have been 2,170 distressed home sales in the St Louis 5-County Core market (the City of St Louis and Counties of St Louis, St Charles, Jefferson and Franklin) this year which is a decline of 23% from last year when there were 2,871 distressed homes sold and down 38.4% from 2014 when there were Continue Reading → This past week Boeing Co., one of St Louis’s largest employers (5ht or 6th largest give or take) announced they would be moving 500 jobs to St Louis from Huntington Beach, California as part of it’s Defense, Space & Security business. The jobs they are bring to St. Louis are good jobs and will mean that roughly 500 employees, many with families, will be relocating to St Louis soon. Continue Reading → The city of St Louis is one of the “Top 17 Single Family Rental Millennial Meccas”, according to a report just released by Attom Data Solutions. As the interactive info graphic below shows, St Louis joins the likes of Baltimore Maryland, Milwaukee Wisconsin and El Paso Texas, along with others, as a place that is ripe for investors to rent homes to millennials. For the report, millennial were defined as people born between 1979 and 1993. According to the report, investors that purchased rental homes in the city of St Louis during the first half of 2016 saw a gross rental yield of 12%, nearly 50% higher than the national average of 8.7%. In addition, millennials make up nearly a third of the population of the city of St Louis (29.3%) and 29.8% of the city is rental property, making for a solid rental market. On the downside, the average wages in the city of St Louis is down 2% from last year. Continue Reading → There were 293,190 foreclosure filings in the U.S. during the 3rd quarter of 2016, which is a decrease of 10 percent from a year ago, according to a report released today by Attom Data Solutions. This marks the fourth consecutive quarter in which foreclosure activity has decreased on a year-over-year basis and continues the steady downward decline in foreclosure activity we have seen for 6 years and has now finally fallen back to levels we saw prior to the housing bubble. Continue Reading → ATTOM Data Solutions just released their 2016 Natural Hazard Housing Risk Report, in which they score counties across the nation on risks posed to housing from natural hazards. As the heat map below illustrates, St Louis County has the highest natural hazard ranking in the St Louis area at 59.8, followed by the City of St Louis at 55.3. Continue Reading → There were 956 foreclosure filings on homes in the St Louis metro area during July 2016, a decline of nearly 20 percent (19.93%) from a year ago, according to a report released by ATTOM Data Solutions. As the table below shows, during July 2016, foreclosure activity decreased from a year ago in 5 of the 7 Missouri counties included in report. Franklin County saw an increase in foreclosure activity of 21.43% and the city of St Louis saw an increase of 9.23% from a year ago. Continue Reading → The St Louis metro area housing market continues to be a hot seller’s market with 35,703 homes sold during the 12 month period ended June 30, 2016, an increase of nearly 7 percent from the prior 12 month period. The median price of homes sold during the most recent period was $162,500, an increase of over 5 percent from the prior 12 month period. Continue Reading → After the housing bubble burst in 2008 we saw several years of declining home prices before home prices finally reached bottom in late 2011 and early 2012. Due to the tremendous growth in foreclosure activity, as well as artificially inflated home prices as a result of sub-prime lending, many of St Louis’ lowest priced neighborhoods were hit the hardest. So, now that we have seen a solid real estate market in St Louis for a couple of years, and prices are recovering, how have home prices in these hard hit zips recovered? To determine this I have assembled the data Continue Reading → One of the many benefits to living in the St Louis area has long been the affordability of good homes in nice neighborhoods, but that has even gotten better in the past year in three of the 5 major counties that make up the St Louis market. As the table below shows, in Franklin County, due to lower home prices as well as interest rates, home affordability increased by 9 percent from May 2015 to May 2016. Continue Reading → There have been 10,070 Homes sold in St Louis this year so far (through May 31, 2016), in the 5-county core St Louis market, an increase of 8.7 percent from the same time last year when there were 9,261 homes sold. As the table below shows, this years home sales is outpacing the prior 4 years thus far. The core St Louis market is comprised of the city of St Louis as well as the counties of St Louis, St Charles, Jefferson and Franklin. Pending home sales up as well but could show slowing trend… At the chart below illustrates, Continue Reading → Foreclosure activity in the St Louis metro area during the month May occurred at a rate of 1 foreclosure action for every 1,267 homes, an increase of 20.3 percent from the month before, but a decrease of 9.75% from a year ago, according to a report just released today by RealtyTrac. Continue Reading → Homes are selling in St Louis at a brisk rate evidenced by the fact that pending home sales, those listings that are under contract to a buyer but not yet closed, for 2016 through the end of April increased 9.2% from the same time last year. As the chart below illustrates, year to date pending home sales in the St Louis 5-County core market (city of St Louis and counties of St Louis, St Charles, Jefferson and Franklin) thus far this year are at a level higher than we have seen in years! Pending home sales in the month of April itself just barely outperformed April 2015 (be about 1/2 of 1%) but it did. Continue Reading → There were 2,290 St Louis Existing Homes Sold in April (in the 5-county core market), an increase of 1.0 percent from April 2015 when there were 2,265 homes sold. The median home price of homes in the St Louis 5-county core market (city of St Louis and counties of St Louis, St Charles, Franklin and Jefferson) during April 2016 was $173,850, an increase of 4.4 percent from April 2015 when the median price of existing homes sold was $166,500. For the combined markets of the City of St Louis and the County of St Louis, there were 1,241 existing single Continue Reading → |
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