St Louis Home Prices - St Louis Real Estate News

St Louis Real Estate Market Update VIDEO – November 2017

By Dennis Norman, on November 15th, 2017

Will home sales this year fall short of last years total? Have home prices risen too much in St Louis? Is there still a shortage of homes for sale in St Louis? Find the answers, data behind the answers, as well as complete, and up to date, home price and sales data for the entire St Louis market, in our just released market update video.

In our MORE, REALTORS, 5 Minute St Louis Real Estate Market Update video below, you can quickly and easily get the latest information on home prices, home sales, trends and more for the entire St Continue Reading →

St Louis Has Higher Standard of Living Than 94 Percent Of All Metro Areas

By Dennis Norman, on October 26th, 2017

James Bullard, President, and CEO of the Federal Reserve Bank of St Louis gave a rather flattering report on St Louis during a presentation earlier this month. Speaking at the Bi-State Development annual meeting, Mr. Bullard’s presentation, “Living Standards across U.S. Metropolitan Statistical Areas” compared income, home prices as well as other economic data of 381 MSA’s across the country.

Highlights from the presentation:

St Louis ranks 7th of the 53 largest MSA’s for the ratio of real per capita personal income to U.S. average with a 1.13 (table 1 below) St Louis was one of just two cities (Nashville Continue Reading →

St Louis City & County See Home Sales Fall In September While Prices Spike

By Dennis Norman, on October 24th, 2017

The city and county of St Louis, collectively, accounted for nearly two-thirds of the home sales in the St Louis core-market during the past 12 months. There were 16,790 homes sold in the city and county of St Louis during the period October 1, 2016, through September 30, 2017, 61.0% of the 27,517 total number of homes sold in the 5-County Core St Louis real estate market during the period.

Home prices spike in St Louis City/County…

The median price of homes sold during the 12-month period ending September 30, 2017, was $174,900, a rather modest, but sustainable, 2.94% from Continue Reading →

St Louis Real Estate Market Update VIDEO – October 2017

By Dennis Norman, on October 13th, 2017

Is there a market correction coming to the St Louis real estate market? Find the answer, data behind it, as well as complete, and up to date, home price and sales data for the entire St Louis market, in our just released market update video.

Sell Your Home For The Highest Price In The Least Amount of Time! See how- Continue Reading →

St Louis Home Sales and Prices Continue On The Rise Throughout The Area

By Dennis Norman, on September 19th, 2017

For the 12-month period ending August 31, 2017, as the table below shows, there were 36,753 homes sold in the St Louis MSA an increase in home sales of 3.68% from the prior 12-month period. The median price of homes sold in the St Louis MSA during the past 12 months was $170,000, an increase in home prices of 2.92% from the prior 12 month period.

St Louis home sales and price summary by county (see tables below for details):

St Louis City and County Home Sales Up 5.18% Home Prices Up 3.31% St Charles County Home Sales Up 3.07% Continue Reading →

Like The Weather, St Louis Housing Market Cooling

By Dennis Norman, on September 8th, 2017

As we approach the fall season (officially referred to as “autumn”, it begins September 22nd) and the temperatures cool, St Louis home prices and sales are beginning to cool as well. There’s no reason for panic as this is normal due to the “seasonality” of the real estate market, however, we in the real estate business never like to see it arrive.

As the tables below for the St Louis MSA, as well as the counties that make up the St Louis real estate market, show, the St Louis real estate market as a whole, is now a “cooling seller’s Continue Reading →

Home Sales and Prices Continue Upward Trend Throughout St Louis Area

By Dennis Norman, on August 21st, 2017

For the 12-month period ending July 31, 2017, as the table below shows, there were 36,741 homes sold in the St Louis MSA an increase in home sales of 13.35% from the prior 12-month period. The median price of homes sold in the St Louis MSA during the past 12 months was $170,000, an increase in home prices of 3.66% from the prior 12 month period.

St LouisHome sales and price summary by county (see tables below for details):

St Louis City and County Home sales Up 6.06% Home prices Up 4.79% St Charles County Home sales Up 4.43% Home Continue Reading →

St Louis Real Estate Market Update VIDEO – August 2017

By Dennis Norman, on August 13th, 2017

The St Louis real estate market continues to be strong… Get the latest information on St Louis area home prices, sales and the market, as well as why this information is important and even a quick example of how we use this type of information to help our clients, in our just released market update video.

Sell Your Home For Continue Reading →

Are Condos Or Homes A Better Investment In St Louis?

By Dennis Norman, on August 3rd, 2017

It’s no secret that here in St Louis we are little slow to embrace new trends or styles and that holds true when it comes to our housing market. I remember when I first entered the real estate business in 1979 although condominiums had become quite popular in many metropolitan areas in the U.S. at the time, since the early 60’s when the popularity began to increase, they weren’t very common here. I remember many early condominium developers in St Louis struggling to make a profit doing condo conversions (where multi-family properties were converted into the condominium form of ownership Continue Reading →

St Clair County Illinois Real Estate Market Outperforming Madison County Illinois Market

By Dennis Norman, on July 19th, 2017

The Mississippi river clearly defines the Missouri/Illinois state line in fact it does so much so that it is often easy to forget that nearly half (8 of 17) of the counties that make up the St Louis MSA are located in Illinois. Granted, many of these are smaller counties, in fact Illinois has 6 of the 8 smallest counties (by population) in the St Louis MSA, however, Madison County and St Clair County, both with roughly 260,000 people, are the 4th and 5th (respectively) largest counties in the St Louis MSA. Continue Reading →

St Louis Home Prices And Sales Increase From A Year Ago

By Dennis Norman, on July 18th, 2017

For the 12-month period ending June 20, 2017, as the table below shows, there were 36,447 homes sold in the St Louis MSA an increase of 2.08% from the prior 12-month period. The median price of homes sold in the St Louis MSA during the past 12 months was $169,000, an increase of 4.0% from the prior 12 month period. Continue Reading →

The Importance Of Accurate St Louis Home Price Data for Sellers and Buyers- Prices Down 19%?? Or Up 8%??

By Dennis Norman, on July 14th, 2017

Yes, I often harp on the importance of having accurate information when it comes to the St Louis real estate market and, admittedly, am a data nerd, however, considering that a home sale or purchase is generally one of, if not the, largest financial transactions a person makes, I think it’s worth the effort to get it right. This is why at our company, MORE, REALTORS, we have spent thousands and dollars and thousands of hours of work over the course of several years to develop software for our agents, and clients, that provides what we feel is the most accurate and relevant information out there when it comes to St Louis home prices and sales information. Continue Reading →

St Louis Real Estate Market Update VIDEO – July 2017

By Dennis Norman, on July 13th, 2017

Home prices are cooling slightly as we transition from the spring market to the summer market… Every year we see home prices reach their peak in the spring market which, depending on weather, the economy as well as other things, could be May or June typically, and then fall slightly as we go into the summer months. This year is no different and we are seeing the normal seasonal change in home prices but St Louis continues to have a strong real estate market and continues to favor sellers for the most part. Continue Reading →

Is There a Connection Between St Louis Population Shift and Home Prices?

By Dennis Norman, on July 6th, 2017

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 →

City of St Louis Has Best Home Affordability In St Louis Area

By Dennis Norman, on July 4th, 2017

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 →

What To Look Out For In Credit Repair Companies

By Dennis Norman, on June 29th, 2017

The housing bubble that led to the housing bubble burst in 2008 started a decline in the value of homes, including those in St Louis, for the following 3 to 4 years. This resulted in much larger number of homeowners facing financial struggles including late payments, foreclosures, short sales, bankruptcy and the like, than was the historic norm. As a result, while maybe not a new concept but certainly one that had been more obscure in the past, credit repair, became a lucrative and growing business as consumers sought to repair the damage done and position themselves to buy a home. Continue Reading →

The Importance Of Accurate Home Price Data And The Danger Of Bad Data

By Dennis Norman, on June 24th, 2017

Ok, I’ll admit it, I know I’m sort of a big data nerd and not everyone is, so I may be in the minority when it comes to the attention I give, and time I devote, to market data, stats, trends and the like. However, while not everyone wants to study this stuff, anyone in the market to buy or sell real estate either needs to be up to date on what is going on in the market in terms of price (and the other stuff I mentioned) or be represented by a real estate agent that is. Otherwise, without this information or, worse yet, with bad information, home buyers and sellers can make some really bad decisions. Continue Reading →

St Louis Home Sales and Home Prices Are Both Up Over 5 Percent From A Year Ago

By Dennis Norman, on June 22nd, 2017

St Louis continues to enjoy a pretty robust real estate market, albeit it a challenging one for buyers due to the low inventory of homes for sale in most areas, with St Louis home sales, during the past 12 months, up over 5 percent from the prior 12-month period and St Louis home prices up over 5 percent for the same period as well. Continue Reading →

No Listing Shortage Of Million-Dollar Listings In St Louis

By Dennis Norman, on June 21st, 2017

The low inventory of homes for sale in St Louis comes up today in most conversations related to the St Louis real estate market. St Louis home buyers have struggled to get to new listings quick enough, and then make strong enough offers, to successfully beat out the competition. Well, while that may be the story for the majority of the St Louis real estate market, it is certainly not the story for the $1Million+ market. Continue Reading →

St Louis Home Prices Verses Rent Continues To Show Value In Home Prices

By Dennis Norman, on June 15th, 2017

There are several ways to look at home prices and home affordability as well as to argue the merits of homeownership versus renting, however, one my favorite metrics to consider along these lines is the relationship between home prices and rental rates. Most home buyers, that are seeking a home to live in, never consider what the home they are considering purchasing would rent for, since that is not their intended use. Continue Reading →

St Louis Real Estate Market Update VIDEO – June 2017

By Dennis Norman, on June 15th, 2017

What a great time to be a home seller! This month, as the video below shows, there remains a shortage of homes for sale in many areas throughout the St. Louis area making it fun for sellers and challenging for buyers Listings that have been properly price, positioned in the market and marketed appropriately are selling in a matter of days in many areas and price ranges throughout St Louis.

Whether you are thinking of buying or selling and would like me to look at your situation and your market to determine the best strategy, just call, or text me, Continue Reading →

St Louis Home Sales Fall Slightly in May From Year Ago – Prices Up

By Dennis Norman, on June 7th, 2017

There were 2,707 homes sold during May within the St Louis 5-county core market down slightly from May 2016 when there were 2,736 homes sold according to the latest data from MORE, REALTORS (see chart below). The median price of homes sold in the St Louis core market during May 2017 was $125 per square foot, an increase of 2.5% from May 2016 when the median price of homes sold in the St Louis core market was $122 per square foot. Continue Reading →

Characteristics of New Homes Sold In 2016

By Dennis Norman, on June 1st, 2017

The U.S. Department of Commerce just released it’s 2016 CHARACTERISTICS OF NEW HOUSING in which it revealed features, amenities, prices, sizes, etc of new homes built and sold during 2016 in the United States. You can see all the data in the complete report for the U.S. by clicking on the link however I’m going to just focus on the homes built here in the midwest region. Continue Reading →

Is It Better To Invest In a Luxury Home In St Louis County or City?

By Dennis Norman, on May 31st, 2017

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.

St Continue Reading →

Ballwin Tops List On Home Appreciation & Safety Index

By Dennis Norman, on May 23rd, 2017

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 →

St Louis’ Slowest Selling Neighborhoods

By Dennis Norman, on May 18th, 2017

Even in this low-inventory sellers market the St Louis housing market has been experiencing for some time now, there are areas where homes are selling slow. For home buyers that are tired of the fierce competition that exists for most new listings and tired of losing out, these slower selling areas may offer an opportunity to buy. Continue Reading →

Homeowners More Optimistic About The Value of Their Home Than Appraisers Are

By Dennis Norman, on May 13th, 2017

It probably won’t come as a surprise to you that many homeowners feel their homes are worth more than perhaps they are, particularly when the time comes to sell them. This is evidenced by the Quicken Loans’ Home Price Perception Index (HPPI) which looks at appraised values of homes versus the the homeowners estimate of value. Continue Reading →

St Louis Real Estate Market Update VIDEO – May 2017

By Dennis Norman, on May 9th, 2017

The St Louis market continues to be hot although there is a little downward pressure on pricing. This month, as the video below shows, the St Louis real estate market continues to be low on competition and favoring sellers although the home buyers out there are savvy and are not reacting to over-priced listings. Listings that have been properly price, positioned in the market and marketed appropriately are selling in a matter of days in many areas and price ranges throughout St Louis.

Whether you are thinking of buying or selling and would like me to look at your situation Continue Reading →

St Louis Spring Real Estate Market Snapshot

By Dennis Norman, on May 9th, 2017

We are about half way through the spring real estate market in St Louis, normally the most active time of the year for the St Louis real estate industry, and, thus far, the 2017 spring market is shaping up pretty good! As our chart below illustrates, there were 4,582 homes sold in the 5-county core St Louis market during March and April of this year, an increase of 2.4% from last year when there were 4,473 homes sold and the median price per foot of those homes sold was $126 per foot in April, an increase of 6.8 percent from April 2016 when the median price per foot was $118. Continue Reading →

St Charles County Home and Condo Prices Have Outperformed St Louis County Over Past 10 Years

By Dennis Norman, on April 30th, 2017

The median price per square foot of homes sold in St Louis County have increased 3.5% over the past 10 years, from $116 per foot in 2007 to $120 per foot currently. As the chart below illustrates, home prices dipped to a low of $90 per foot in 2011, a result of the housing bubble burst in 2008. During the same period, the price per foot of homes sold in St Charles County increased 5.1% from $117 per foot in 2007 to $123 per foot currently. Like St Louis County, St Charles County saw home prices bottom out in 2011, hitting a low of $95 per foot. Continue Reading →