1-Story Homes In St Charles County Appreciated More Than 2-Story Homes In Past 10 Years

One story homes, often referred to as “ranch-style”, have always been popular, especially with ageing home buyers that don’t want stairs.  With a large number of baby boomers that have become empty nesters, many of them are downsizing and one-story homes are often their style of choice as well.  Whether this demand is the reason or not, one-story homes in St Charles County have outpaced 2-story homes in terms of home price appreciation over the past 10-years.

As the charts below show, one-story homes in St Charles County show, have increased in price from a median sold price of $116 per sqft. 10 years ago to $156 per sqft today, an increase of 34.5% during the period.  As the second chart below shows, 2-story homes during the same period increased from $94 per sqft. to $124 per sqft, an increase of 32.0%.

In terms of the median price homes sold for, there was an even bigger gap between 1-story and 2-story homes.  One-story homes increased in price from $164,5000 to $229,000, an increase of 39.2% and 2-story homes from $210,000 t $275,000, an increase of 31.0%.

Median Price of Homes Sold in St Charles County In Past 12 Months Hits $230,000 – Sales Up Slightly

The median price of homes sold in St Charles County during the 12 month period ended October 31, 2018, was $230,000 according to the STL Market Report™ from MORE™, REALTORS®.  As the STL Market Report™ below shows, this is an increase in the median price of homes sold of 4.55% from the prior 12-month period. During the most recent 12-month period, there were 6,081 homes sold in St Charles County, an increase of 1.11% from the prior 12-month period.  There is currently a 2.52 month supply of homes for sale in St Charles County and listings have been on the market a median time of 74 days.

STL Market Report – Homes – St Charles County

(click on table to go to live report)

STL Market Report - Homes - Charles County

St Charles County Home Sales Trend Downward Over Past 12 Months- Prices Trend Upward

Home sales and home prices in St Charles  County during the 12-month period ending November 30, 2017,  are trending in opposite directions.  Home sales in St Charles County have, as the chart below reveals, declined 5.7% from 6,155 home sales for the 12 month period ended November 30, 2016 to 5,806 home sales for the period ended November 30, 2017.  The median price per foot for homes sold during these same periods however have increased 2.4% from $127 per foot for the period ended November 2016 to $130 per foot for the period ended November 30, 2017.

St Charles County Home Sales & Price Per Foot – (chart)

12-Month Period Ending 11/30/2016 vs

12-Month Period Ending 11/22/2016 No Distressed Sales

(click on chart for live data)St Charles County Home Sales & Price Per Foot - (chart)  12-Month Period Ending 11/30/2016 vs  12-Month Period Ending 11/22/2016 No Distressed Sales  (click on chart for live data)

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

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.   As the table below shows, in the 5-county core St Louis market, there were 27,437 homes sold in the 12-month period ending May 31, 2017, an increase of 5.13% from the prior 12-month period when there were 26,099 homes sold.

Year-over-year for the month of May looks good as well…

As I frequently comment, looking at home prices and sales activity for a 12-month period is the best way to get a realistic view of the market, less affected by timing of sales due to weather, day of the week the last day of the month falls on etc, it’s still worth looking at the most recent month and comparing it to the prior month, as well as prior year, to help spot trends or changes in the trend.  With this in mind, as the chart below shows, for the St Louis core market there were 3,070 homes sold in May, 2017, an increase of 21.2% from the month before when there were 2,533 homes sold, and an increase of just under 1% from May 2016 when there were 3,042 homes sold.  As the chart also reveals, homes sold in St Louis during May, 2017 were sold for a median price of $185,000, an increase of 2.8% from the month before when the median sales price was $180,000 and a slight increase of just one-half of one-percent from May 2016 when the median price St Louis homes sold for was $184,000.

Franklin County has the largest increases in home prices and sales during past 12 months…

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

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.

Condo prices have followed suit with St Charles County faring better than St Louis County during the past 10 years.  The median price per square foot of condominiums sold in St Louis County declined 15% over the past 10 years from $123 per foot in 2007 to $105 per foot currently.  St Charles County condo prices declined 7.9% during the same period, falling from $114 per foot in 2007 to $105 per foot currently.  The bottom for condo prices, in both St Charles County and St Louis County, lagged slightly behind the bottom for home prices, not hitting bottom until 2012 at which time prices were $85 and $89 per foot respectively.

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