Cash Home Buyers In St Louis Account For Half of Home Sales In September

By , on October 24th, 2013

Cash Home Buyers in St Louis were responsible for 50 percent of the home sales in September 2013 in the St Louis Metro area, according to a new report just released today by RealtyTrac. The report showed that state-wide, cash buyers accounted for 48 percent of home sales in Missouri during the month. As the table below shows (a St Louis Real Estate News Exclusive), in the city of St Louis 69 percent of the home sales in September were cash sales.

Cash sales are often associated with investors and, as the table shows, there is no lack of investor Continue Reading →

Top 15 Sellers Markets In St Louis

By , on October 16th, 2013

Thirteen of the 15 top sellers markets in St. Louis are found in St. Louis County, with the City of St Louis and Franklin County each having one neighborhood on the list. This list is produced by MORE, REALTORS, and is based upon their Market Action IndexTM which, among other things, looks at supply, demand and inventory for an area and then applies an index value to it.

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Cash Sales Account For One Of Every Four St Louis Home Sales

By , on September 26th, 2013

Just over 1 of every 4 (26%) St Louis home sales (5-county core area) in August 2013 were cash purchases, according to MORE, REALTORS. This is the highest rate of cash sales in St. Louis since April 2013 and is the highest number of total home sales for a one month period in over 4 years!

The average home price on cash sales in August was $116,724 and the average home price on all home sales for the month was $187,978.

On the national level, almost half of the homes sold (45%) in August 2013 were cash purchases, according Continue Reading →

The 12 Fastest Selling St. Louis Neighborhoods

By , on September 16th, 2013

Eleven of the 12 fastest selling St. Louis neighborhoods are found in St. Louis County with the lone exception, which also happens to be #1 on the list, found in the city of St. Louis, according to the latest data available from MORE, REALTORS.

The fastest selling neighborhoods list is ranked based upon the median time current listings have been on the market. At the top of the list, with a median time on market of 25 days, is the 63101 zip area of the city of St Louis, followed by the 63040 zip area in Grover at 29 days. Continue Reading →

Over 123,000 St Louis Homeowners Are Seriously Underwater

By , on September 6th, 2013

Nearly one of every 4 St Louis homeowners with a mortgage are seriously underwater, meaning their mortgage exceeds the current value of their home by 25 percent or more, according to a report just released by RealtyTrac. As the table below shows, the city of St. Louis has the highest percentage of seriously underwater homeowners at 31 percent and Franklin county the lowest at 14 percent. In addition, there are another 104,000 St Louis homeowners in a “near-equity” or “resurfacing equity” position, meaning their loan equals 90 to 110 percent of the current value of their home. As long Continue Reading →

Home Prices In St Louis Rose Almost 7 Percent In Past Year

By , on September 5th, 2013

Home prices in St Louis (core market) rose from a median price of $145,000 for homes sold in August 2012 to $155,000 for homes sold in August 2013, an increase of 6.9 percent. The core market for St Louis includes the city of St Louis as well as the counties of St Louis, St Charles, Jefferson and Franklin.

 

 

 

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St Louis Home Sales Increased Almost 14 Percent

By , on September 4th, 2013

St Louis home sales, for the 12 month period ending August 31, 2013, increased 13.9 percent from the same period a year before. In the five county area that makes up the bulk of the St Louis real estate market (city of St Louis and the counties of St Louis, St Charles, Jefferson and Franklin) there were 26,436 homes sold during the period, up from 23,208 the year before.

 

 

 

 

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Cash Purchases Of St Louis Homes Drops To Lowest Level In Over 3 Years

By , on August 29th, 2013

In July 2013 just a little over 1 of every 5 (22 percent) St Louis homes* that were sold were cash purchases, marking the lowest rate of cash sales since June 2010, according to MORE, REALTORS. On the national level, 2 of every 5 (40 percent) homes sold during July were cash purchases, according to a report released this morning from RealtyTrac.

The total number of homes sold in St Louis* in July was 2,731, a slight increase from June’s 2,672 sales and a 17 percent increase from July 2012 when there were 2,326 homes sold in the St Continue Reading →

St Louis Real Estate Bidding Wars Chill

By , on August 16th, 2013

Bidding wars for homes in St Louis cooled in July as the number of home sales where the final sales price exceeded the list price at the time of sale was 14.7 percent of all home sales in the St Louis 5-county core area (City of St Louis and Counties of St Louis, St Charles, Jefferson and Franklin), according to the latest data from MORE, REALTORS. This is down 8.7 percent from June, when 16.1 percent of the homes sold in St Louis were sold at a price in excess of the list price. Nationally, in July almost half Continue Reading →

St Louis Trend Report Shows Year-Over-Year Inventory Decline Nearly Double National Level

By , on August 13th, 2013

St Louis’ year-over-year inventory of homes for sale has declined from 18,740 active listings for sale in the core St Louis market (City of St Louis and Counties of St Louis, St Charles, Jefferson and Franklin) from 18,740 homes for sale in July 2012 to 16,888 homes for sale last month, a decline of 9.9 percent in the year-over-year inventory, according to MORE, REALTORS. This is nearly double the national rate of decline in the inventory of homes for sale which was 5.24 percent for the same period, according to the National Association of REALTORS.

During the Continue Reading →

Home Prices Increased In Most Metros

By , on August 8th, 2013

Home prices increased during the 2nd quarter of 2013, on a year-over-year basis, in 87 percent of the metro areas in the U.S. according to data released today by the National Association of REALTORS (NAR). Home prices increased in the U.S., from a median of $181,300 in the 2nd quarter of 2012, 12.2 percent to $203,500 in the 2nd quarter of 2013, according to NAR. (For complete NAR Report click here)

Locally, the St. Louis MSA saw a modest increase of 1.5 percent from $134,600 to $136,600 during the same period. Drilling down though to the 5 county core Continue Reading →

Home Sales Slip in June; Still Forecast to Rise

By , on July 30th, 2013

The National Association of REALTORS (NAR) reported that it’s pending home sales index for June slipped to 110.9 from the six-year high it hit in May at 111.3 as home sales slowed as a result of increasing home prices and interest rates. Even though home sales declined in June, the index was still 10.9 percent higher than it was a year ago when it was at 100. It just so happens, “100” in the index equals sales activity during the year 2001, which was the first year for NAR’s pending home sales index. NAR’s forecast calls for existing home Continue Reading →

The Urban Chicken Capital Of The U.S.

By , on July 12th, 2013

The Urban Chicken Capital Of The U.S. is Portland Oregon at least in terms of the number of homes that have come on the market in the past 3 months with a “chicken enclosure” listed as a feature, according to the “Best Cities To Be A Chicken” report from Redfin.

Urban chickens have become popular over the past few years with health conscious folks that want fresh eggs although this new trend has met some opposition by city councils as well as some neighbors. From the best I can tell, the city of St Louis does permit chickens, although you Continue Reading →

Are St Louis Home Price Gains Threatening Another Housing Bubble?

By , on June 19th, 2013

It has only been recently that economists started using the word “recovery” in the same sentence as “housing market” and now there is talk about a possible housing bubble? CoreLogic, in it’s June MarketPulse report, citing a 12.1 percent increase in their home price index from April 2012 to April 2013 cautioned that the double-digit home price gains “prompt caution” and makes some ask “are we witnessing a new housing bubble?”

The CoreLogic report encompasses the largest metro areas in the U.S. so I decided to look at the St. Louis area specifically to see if what we are Continue Reading →

St Louis Foreclosures Up Almost 19 Percent From Year Ago

By , on May 30th, 2013

St Louis foreclosures rose during the 1st quarter of this year to 2,505 foreclosure sales in the St Louis metro area during the quarter, an increase of 18.83 percent from the year before, according to a newly released report from RealtyTrac. The average sales price of St Louis foreclosures during the quarter was $89,229 and, on average, St Louis foreclosures sold at a 37.95 percent discount from non-distressed sales.

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St Louis Population Continues To Shift West

By , on May 22nd, 2013

St Louis did not make the list of the 15 fastest growing large cities just released by the U.S. Census Bureau and, in fact, no city in Missouri made the list. The list was based upon the 2012 population estimates just released (literally about 1 minute ago) which showed, from 2011 – 2012, the State of Missouri barely had any population growth (0.22 percent). In the St Louis area, as the table below shows which compares the 2010 population for cities and counties throughout the St Louis area to the 2011 and newly released 2012 estimates, the St Louis population Continue Reading →

St Louis Home Sales and Home Price Increases In April Outpace National Average

By , on May 22nd, 2013

St Louis home sales in April increased 13.7 percent from a year ago for the five-county core area (City of St Louis and the Counties of St Louis, St Charles, Jefferson and Franklin) while U.S. existing home sales rose 9.7 percent during the same period. During the same time-frame, St Louis home prices rose from a median price of $123,000 13.7 percent to $139,900 while US home prices increased 11.0 percent.

Continue Reading →

Better To Buy Than Rent In Over Half St Louis Neighborhoods

By , on May 20th, 2013

In over half (58 percent) of St Louis neighborhoods it is a better move financially to buy a home rather than rent a home, according to a report just released by Zillow. According to the report, in 49 neighborhoods in the city of St Louis (of 76 in the report) and in 42 neighborhoods in the county of St Louis (of 87 in the report) it makes more sense to buy a home than rent.

In putting this list together, Zillow looked at the costs associated with buying and leasing a home, including up front payments, fees as well as Continue Reading →

St Louis Home Sales Increase In March

By , on April 29th, 2013

St Louis Home Sales Up Over 11 Percent In March

St Louis home sales rose in March to 2,729 homes sold in the five-county St Louis core area (city of St Louis and counties of St Louis, St Charles, Jefferson and Franklin) which is an increase of 11.3 percent from March 2012 when there were 2,451 homes sold. St Louis home prices rose 3.7 percent in March to an average sales price of $146,146 from $140,904 a year ago.

On a national level, the Pending Home Sales Index from the National Association of REALTORS (NAR) was at 105.7 for March, Continue Reading →

St Louis Residential Construction On The Rise

By , on April 16th, 2013

St Louis Residential Construction Gets Boost From Apartment Construction

St Louis residential construction activity is on the rise with building permits increasing by almost 75 percent in the past year in the immediate St Louis area. As the table below shows, the largest increase in residential building permits came in multi-families with a 154 percent increase in permits in the area in the past year. During the same period, single family permits in St Louis were up just over 50 percent.

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St. Louis home sales in November up almost 20 percent from a year ago

By , on December 20th, 2012

The National Association of REALTORS® (NAR) announced this morning that U.S. existing home sales increased in November 5.9 percent from the month before and 14.5 percent from the year before. The NAR report indicated the median home price in the U.S. in November was $180,600, an increase of 10.1 percent from a year ago. The St. Louis Real Estate market (the 5-county core St Louis Real Estate area (City of St Louis and the Counties of St Louis, St Charles, Jefferson and Franklin), as my chart below shows, saw home prices rise slightly in November from October to a median price of $122,000 which is an increase of 7.5 percent from a year ago. St Louis home sales in November on the other hand declined slightly from the month before to 2,523 homes but was up 19.6 percent from a year ago Continue Reading →

One in Five Housing Units in City of St Louis is Vacant

By , on December 10th, 2012

The city of St. Louis has experienced a decline in the number of residents since hitting it’s peak population back around 1950. The most recent disappointment came in the 2010 census results showing, in spite of optimism on the part of the city for better numbers, the population of the city of St Louis had declined by nearly another 1o percent during the decade, falling from 348,189 people in 2000 to 319,294 in 2010. During that same decade there were efforts to revitalize the city and bring new life to it as developers built new and fun living spaces by Continue Reading →

St Louis home prices up 4.4 percent in past year; St Louis home sales up almost 19 percent during same period

By , on November 19th, 2012

The St. Louis Real Estate market (the 5-county core St Louis Real Estate area I’m showing which includes the City of St Louis and the Counties of St Louis, St Charles, Jefferson and Franklin) saw home prices fall slightly (1.1 percent) in October from September to a median price of $120,000 which is an increase of 4.4 percent from a year ago. St Louis home sales, on the other hand, rose in October 6.6 percent from the month before to 2,607 homes, an increase of 18.9 percent from a year ago. If you would like to receive a free copy of the NAR home sales report please click here for immediate access. Continue Reading →

St Louis home prices and sales decline in September; Prices up 4.6 percent in past year

By , on October 19th, 2012

The National Association of REALTORS® (NAR) announced this morning that U.S. existing home sales, and prices, slipped slightly in September, falling 1.7 percent from the month before however were up 11 and 11.3 percent, respectively, from the year before. The St. Louis Real Estate market, as the charts below show, we see slightly different data, at least for the 5-county core St Louis Real Estate area I’m showing (the City of St Louis and the Counties of St Louis, St Charles, Jefferson and Franklin). In this core area, which makes up the bulk of the Saint Louis real estate market, home prices fell 7.6 percent in September, from the month before, to a median price of $121,884 and home sales slid over 20 percent to 2,428 homes sold in September, down from 3,045 in August. Continue Reading →

Home mortgages may become more costly in St. Louis thanks to local law

By , on September 20th, 2012

In spite of warning from the Mortgage Bankers Association (MBA), the St. Louis Association of REALTORS (SLAR) and other housing-related groups of the damage the “Mortgage Foreclosure Intervention Code” (Bill #174 introduced by Hazel Erby, District 1) could do to the already struggling St Louis housing market, including increasing the cost of home mortgages, last month the St. Louis County Council passed the bill, it was signed into law by County Executive Charlie Dooley and will go into effect on September 28, 2012. Then, just last week, Lewis Reed, President of the St. Louis Board of Alderman, introduced what is a basically the same bill in an attempt to get the same law enacted by the City of St. Louis. Continue Reading →

St Louis home prices increase from last year while U.S. home prices fall

By , on July 31st, 2012

St. Louis home prices are significantly outperforming other metro markets as evidenced by today’s release of the the S&P/Case-Shiller Index report for May 2012 which showed both the 10-city and 20-city composites, increased by 2.2 percent from the month before while St Louis home prices (see chart below) increased 9.6 percent from the month before. On a year-over-year basis, both the 10-city and 20-city composites saw declines, 1.0 percent and 0.7 percent respectively while St. Louis home prices in May increased 3.4 percent from the year before. Continue Reading →

One in four St Louis Metro home sales are foreclosures;   One in three in the City of St Louis

By , on May 31st, 2012

This morning RealtyTrac® released its U.S. Foreclosure Sales Report™ for the first quarter of 2012, which shows that sales of homes that were in some stage of foreclosure or bank owned accounted for 24 percent of all St. Louis metro area home sales during the first quarter — up from 17 percent of all St Louis home sales in the fourth quarter and the same as the first quarter of 2011. The report also shows that, during the quarter, over 10 percent (10.36) of St Louis metro home sales were short-sales, an increase from 5.85 percent the previous quarter and an increase from 7.46 percent from the first quarter of 2011. Continue Reading →

St Louis home sales outperforms U.S. market in March

By , on April 19th, 2012

Today’s existing home sales report from the National Association of REALTORS® shows U.S. existing home sales in March decreased 2.6 percent from the month before but the Midwest region saw sales activity remain steady coming in at the same rate as the month before. Here in St Louis the story is even better as home sales for the St Louis five-county core (City of St Louis and counties of St Louis, St Charles, Jefferson and Franklin) increased 22.5 percent from the month before and increased 12.4 percent from a year ago. (not seasonally adjusted – see chart below). Continue Reading →

St Louis Foreclosures Increase in February by 20 Percent From January

By , on March 15th, 2012

St. Louis foreclosure activity in February 2012 increased 20.54 percent from the month before and was up 17.58 percent from year before, according to RealtyTrac’s foreclosure market report that was just released. Continue Reading →

St Louis Foreclosures Increase in January

By , on February 16th, 2012

St. Louis foreclosure activity in January 2012 increased 1.11 percent from the month before but was down 21.58 percent from year before, according to RealtyTrac’s foreclosure market report that was just released. Of the 5 largest Missouri counties within the St Louis MSA, Jefferson County saw the largest increase in foreclosures in January at 16.51 percent, following closely by St Charles County at 15.08 percent, St. Louis County at 10.4 percent and the City of St Louis with a modest 2.17 percent increase. Continue Reading →

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