St Louis Non-Distressed Home Sales In January Up Thirty Percent From Year Ago

The St Louis real estate market is off to a good start for 2016 with non-distressed home sales during January increasing 30 percent from a year ago.  In the St Louis five-county core market, there were nearly 1,700 total homes sold (1,697) during January 2015, up 19.3% from January 2015 where there were 1,423 total sales.  Non-distressed sales (private sales only, no foreclosures, REO’s, etc) accounted for  1,430 of the home sales during January 2015, an increase of 30% from January 2015 when there were 1,101 homes sold.

St Louis Home Prices On The Rise…

The median price of homes sold during January 2016 was $149,900, an increase of 11.9% from January 2015 when the median price was $133,900.  The median price of non-distress sale homes sold in January 2016 was $165,000, an increase of 6.5% from January 2015 when the median price was $155,00.

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St Louis Home Sales Fall While Prices Rise In November

St Louis home sales fell to 2,065 homes in November 2014 for the St Louis 5-County Core Market (city of St Louis and counties of St Louis, St Charles, Jefferson and Franklin), a decline of 3.3% from from 2,136 homes sold in November 2013.  St Louis home prices, on the other hand, rose 7.26 percent in November 2014 from a year ago bringing the median home price for the 5-county St Louis core market to $149,300.  As the table below shows, results varied between the counties with 2 of the 5 seeing an increase in home sales and only one (the city of St Louis) a decline in home prices.

Distressed home sales (foreclosures, short sales and REO’s) still make up a significant share of the market (about 30 percent of the home sales in November 2014) and therefore have a fairly big impact on home sales and prices.  The second table below shows the home sale data without distressed home sales being included and reveals quite a different result.  For starters, home sales (non-distressed) actually increased in November 2014 from a year ago and home prices fell a little, the exact opposite of the data with the distressed home sales included.  As the second table shows, there were significant differences in the data between the counties as well.

More proof why now, more than ever, you really need a professional and competent real estate broker or agent to assist you in buying or selling a home.  There is a lot more to the market than just what appears on the surface.  If I can help you in this regard, please contact me.

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St Louis Home Sales and Prices Market Update VIDEO-November 2014

St Louis home prices have increased in the past year while home sales are lagging a little behind last years pace largely due to a lack of inventory of homes for sale.  Get more details on this, as well as a complete update on St Louis home sales, St Louis home prices as well as the St Louis Real Estate market in general in our new, 5-minute, market video update below.

There are neighborhoods throughout St Louis that are low on inventory and high on demand creating a seller’s market!  If you have considered selling your home, or perhaps tried and failed in the past year or so, now is the time to consider it again.  Give us a call and we’ll be happy to let you know the value of your home in today’s market or, try our new online home valuation site and find your homes value in under a minute – go to StLouisHousePrices.com and find your home’s value now!

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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New report shows home sales may be worse than reported

Today, CoreLogic released its “U.S. Housing and Mortgage Trends Report” which stated “their research indicates that the most popular measure of existing home sales is overstated by 15 percent to 20 percent. ”

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