Key takeaways from this list include:
- Huntleigh dominates with the highest average sale price of $2,097,249 and impressively quick transactions, with homes spending an average of just 20 days on the market. It’s important to note that these figures are based on a limited sample of only four home sales.
- Frontenac and Town and Country are not far behind, boasting substantial average prices of $1,436,364 and $1,389,021, respectively. The volume of sales in these areas—46 and 68 homes sold—points to a healthy and active market.
- Clayton and Ladue marry luxury with lively market activity, seeing 103 and 148 homes sold at steep average prices of $1,372,398 and $1,330,002, respectively.
Additional cities such as Westwood, Josephville, Town and Country, and Clarkson Valley also feature on the list, each contributing unique market traits but collectively underscoring the strong demand for high-end residential properties in the area.
St Louis MSA’s Most Expensive Cities-Avg Price-Homes Sold In Past Year
(click on list for current, complete list)
The dynamics of the new home market are shifting significantly as we advance into 2024, with a clear trend towards smaller, more personalized living spaces emerging nationwide. This evolution reflects a broader change in homeowner preferences and market conditions, according to the latest “What Home Buyers Really Want” study by the National Association of Home Builders (NAHB).
Recent data points to a decline in the average size of new homes, continuing a trend that began following a brief uptick in 2021. The average new home size has decreased to 2,411 square feet in 2023, marking the smallest average size in over a decade. This reduction aligns with homebuyers’ preferences, which have also shifted towards more compact living spaces. Today, the desired home size is around 2,070 square feet, significantly less than the 2,260 square feet preferred two decades ago.
Rose Quint, NAHB’s assistant vice president of survey research, identifies two main factors driving this trend: a change in homebuyer preferences and the escalating challenge of housing affordability. In response, builders are adapting their strategies, with 38% reporting a shift towards constructing smaller homes in 2023 to facilitate sales, and 26% planning to continue this approach into 2024. Efforts to address affordability concerns have led to reductions in median new home prices to $427,400 in 2023, a 7 percentage point drop from the previous year and the most significant decrease since 2009.
Beyond size, homebuyers are increasingly seeking personalized and authentic living spaces. Donald Ruthroff, AIA, of Design Story Spaces LLC, highlights a growing demand for customization, with homeowners desiring unique features that set their homes apart. This trend towards personalization is evident in the choice of home upgrades, from custom kitchen islands to premium flooring options.
The study also reveals that homebuyers’ priorities have evolved, with a focus on outdoor living, kitchen functionality, and energy efficiency. Top desired features include laundry rooms, patios, Energy Star windows, and smart home technology, such as security cameras and programmable thermostats. Additionally, preferences have expanded to include quartz countertops, outdoor kitchens, and built-in seating, underscoring a shift towards both practicality and luxury in home design.
As we move through 2024, the shift towards smaller, more personalized homes is reshaping the real estate landscape. This trend, driven by changing preferences and affordability challenges, highlights the importance of staying informed about market dynamics for both homebuyers and builders and you’re in the right place now to do that, St Louis Real Estate News.
As a follow-up to my previous article on the diverging trends in luxury and non-luxury home sales in the St. Louis area, we now turn our attention to the current state of inventory in these two segments. The tables below (exclusively available from MORE, REALTORS®) reveals a surprising contrast: the supply of luxury homes (with a list price of $700,000 or above) in the St. Louis 5-County Core market stands at 2.13 months, while the inventory for non-luxury homes is only 1.40 months.
A Closer Look at Luxury Home Inventory
The 2.13-month supply of luxury homes in the St. Louis 5-County Core market suggests, while still favoring sellers, a more balanced market than the non-inventory market which, due to the very low supply, still favors sellers.
The St. Louis real estate market is experiencing a fascinating divergence in trends between luxury and non-luxury homes. According to the latest data from MORE, REALTORS®, the market for luxury homes—those priced at $750,000 and above—is on the rise, reaching its highest level in eight months. In contrast, the market for non-luxury homes, priced below $750,000, has been on a steady decline for about two years. This article delves into these trends, referencing two illuminating charts from MORE, REALTORS®.
Luxury Home Sales on the Upswing
The first chart from MORE, REALTORS® illustrates the upward trajectory of luxury home sales in the St. Louis area. As the chart shows, for the 12-month period ended September 30, 2023, there were 1,351 luxury homes sold in the combined markets of the city and counties of St Louis and St Charles County, which is the highest 12-month trend since January of this year.
Simply put, a Smart Home means your home has a control system that connects with your various appliances, systems, and features to automate specific tasks and is typically remotely controlled. The real estate industry, in conjunction with CNET, accepted definition is:
“A home that is equipped with network-connected products (aka “smart products,” connected via Wi-Fi, Bluetooth, or similar protocols) for controlling, automating, and optimizing functions such as temperature, lighting, security, safety, or entertainment, either remotely by a phone, tablet, computer, or a separate system within the home itself.”
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Continue reading “What Is a Smart Home and What Does It Mean for a Homeowner?“
Yesterday, I shared data showing that two-thirds of the homes sold in the St Louis 5-County core market (St Louis city and the counties of St Louis, St Charles, Jefferson, and Franklin) during October sold for the asking price or above. Today, I wanted to focus on just the luxury home market to see how that compared with the overall market. I included homes that sold for $750,000 or higher in this analysis.
As the infographic below shows (exclusively available from MORE, REALTORS®) there were 107 luxury homes sold (3.7% of all homes sold) during October in the St Louis 5-County core market with 41% of them selling at the list price or above. Drilling down further, we see that 28% of the St Louis Luxury homes sold for greater than the list price.
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Last week I shared data showing that nearly two-thirds of the homes sold in the St Louis 5-County core market (St Louis city and the counties of St Louis, St Charles, Jefferson and Franklin) during the past 12 months sold for the asking price or above. Today, I wanted to focus on just the luxury home market to see how that compared with the overall market. I included homes that sold for $750,000 or higher in this analysis.
As the infographic below shows (exclusively available from MORE, REALTORS®) there were 1,120 luxury homes sold (about 3% of all homes sold) during the past 12-months in the St Louis 5-County core market with 38% of them selling at the list price or above. Drilling down further, we see that 22% of the St Louis Luxury homes sold for greater than the list price.
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The St Louis luxury home market (homes priced at $700,000 or above) after remaining relatively flat for about a year has been steadily trending upward for now 10-months in a row. Even though April is not over, there have already been more sales of Luxury homes closed than for the month before, so April will make the 10th month of increased sales activity.
As the STL Market Chart below shows (available exclusively from MORE, REALTORS®), sales of luxury homes in St Louis City and County and St Charles County, have increased from 694 sales for the 12-month period ended April 2018 to 1,130 for the 12-month period ending the 30th of this month (so it’s going to rise further even), an increase of 63% in the past 3 years. For the sake of this analysis, a “luxury” home was considered to be a home selling for $700,000 or above, which puts it in the upper 5% or so of the market.
St Louis Luxury Home Sales Trend (12-month prior periods) For the Past 3 Years
(click on Chart for current chart with live data)
One of the many benefits to living in St Louis is it’s a very affordable place to live and much easier to be a homeowner than in most other major metro areas. Having said that, we do have areas, such as Ladue, Huntleigh, and Clayton to name a few where we do see home prices that are out of reach for most of the folks living here. One such example is a magnificent 10,000+ square foot Ladue manse that sold earlier this month. At a final sales price of $6,150,000, it is the highest-priced home sale in the REALTOR® MLS in more than 2 years.
See what $6 million gets you in a St Louis home by clicking here – be sure to click on the video to see the tour of this beautiful home.
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Yesterday, I wrote an article titled “St Louis Home Sales – No end in sight?” in which one of my caveats had to do with listing inventory, noting the obvious that no matter how many homebuyers are out there, if there is nothing for them to buy, St Louis home sales will fall. As promised, I did an analysis of new listings and inventory using proprietary software we have developed at MORE, REALTORS to enable our agents to fully comprehend the market and be able to use that knowledge to serve their clients.
The first table below is our leading indicator report for new listings that were taken in the St Louis core market during the past week compared with the same week a year ago. As the table shows, listings for this period were up 18% from a year ago, which is good news but, as I reported yesterday, new sales were up 21% so sales rose at a higher rate than listings. The second table compares last week’s new listings with the prior week and, as yesterday’s home sales report showed, there was a decline, in the case of new listings taken they were down 5% from the prior week while yesterday I reported sales were down 10%. The report at the bottom is another proprietary product of MORE, REALTORS and it’s a report showing the current inventory of listings for sale in every zip code in the St Louis MSA of which I showed the 20 zips with the lowest inventory.
The bottom line…
To recap, new sales contracts written on listings in the past week outpaced the number of new listings by about 8% and new sales contracts written on listings in the past two weeks outpaced the number of new listings by nearly 11%. One thing to keep in mind is that a contract written does not equal a sold listing as a percentage of the contracts will fail to close due to building inspections, financing, appraisal issues, or other reasons so the gap is not quite as large as it may appear. The other thing to remember is the time of the year we are in…right before Thanksgiving is not a popular time for sellers to list their homes as many will wait until after Thanksgiving and some will wait until after Christmas. However, in today’s market, buyers don’t have that luxury…they have to be prepared to buy at any time or faced missing out in this tight market. So, for now, I think we’re ok and I think my caveat from yesterday is covered but I’ll be watching the inventory moving forward.
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Continue reading “New Listings Of St Louis Homes For Sale Trailing Sales Slightly“
St Louis may be the 8th most affordable metro area in the country to buy a home, but it also has areas where home prices are much higher as well. The median price of homes sold in the St Louis metro area during the past 12-months is $184,500 however the average price of homes sold within the past 12-months has exceeded this in 85 of the 205 municipalities within the St Louis MSA.
Below is our list of the 30 cities with the highest average price of homes sold during the past 12 months. St Louis County has the majority of the most expensive cities at 22 (although, in all fairness, St Louis County is also chopped up into a ridiculous number municipalities) followed by 7 in St Charles County and 1 in Warren County.
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St Louis MSA’s Most Expensive Cities
The list of the 10 St Louis cities where homes sold for the highest average price last year shown below reveals that the little city of Huntleigh, consisting of a land mass of just 1 square mile but home to some of the wealthiest people in St Louis, is where homes sold for the highest average price during 2018. Granted, there were only two homes sold in Huntleigh during the past year (which were in the MLS) but with prices of $2.785 Million and $9.8 Million (for an average of $6,292,500) it catapulted Huntleigh to the top of the list of the most expensive average home sales price for St Louis. Coming in a distant second to Huntleigh is Ladue where the average sales price was $1.104 Million.
See the most expensive homes sold in St Louis in the past year here.
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Continue reading “St Louis Cities Where Homes Sold For The Highest Price In Past Year“
One of the great things about living in St Louis is it is a very affordable place to live, including when it comes to home ownership. Home affordability in St Louis is certainly much better than the coasts but also beats many, if not most, metro areas. Having said that, we do have our share of expensive homes though. For example, there are currently 322 $1,000,000+ homes and condos listed for sale in the St Louis 5-county core market (City of St Louis and Counties of St Louis, St Charles, Jefferson and Franklin). The most expensive St Louis home listed for sale, at the time I wrote this article, is a home in Huntleigh listed for $7,695,000.
(Click on the image above to see complete details)
See the complete list by clicking here.
Of the 322 $1 million+ homes listed, nearly 82% of them are in St Louis County. Below is a breakdown of the listings by county:
- St Louis County – 263
- St Charles County – 25
- City of St Louis – 10
- Jefferson County – 9
- Franklin County – 15
See the list of the 30 cities in the St Louis 5-County Core market with the highest average home prices here.
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If you are in the market for a luxury home in St Louis, you have the opportunity to view some of St Louis’ most expensive homes this weekend. Tomorrow, there will be more than a dozen open houses on luxury homes in St Louis priced at $1,000,000 and above. The luxury home open houses extend from the Central West End to Town & Country, with a concentration around the I-40 corridor.
The map below is a live, interactive map showing all the open houses (you can click on one for details). For a handy Open House report, which you can print out or save and is sorted by time of open house click here.
St Louis Luxury Home Upcoming Open Houses
My business partner was out yesterday previewing homes in West St Louis County and had a discussion with a listing agent in the area that mentioned the large supply homes for sale in the upper price ranges. Considering about all we hear about today is how there is a shortage of inventory and homes are selling so fast, this conversation about growing inventory seemed out of sorts. Before I go further, I should mention that the “mainstream” market is almost always going to perform better than the luxury market for a variety of reasons including the size of the buyer pool for that market.
To see how the luxury home market in West St Louis County is performing, I pulled stats for 3 west county locations: Wildwood, Chesterfield and Town & Country, and then for Clayton as a comparison. As the tables below illustrate, with the exception of Chesterfield which has just a 6-month supply of homes for sale, the other 3 areas are clearly buyers’ markets. Clayton has an 18-month supply, Town & Country 20, and Wildwood has a 22-month supply of homes for sale in the $800,000+ price range.
Chesterfield Luxury ($800k+) Current Listing Data
(click table for complete, live data)
Town & Country Luxury ($800k+) Current Listing Data
(click table for complete, live data)
Clayton Luxury ($800k+) Current Listing Data
(click table for complete, live data)
Wildwood Luxury ($800k+) Current Listing Data
(click table for complete, live data)
As the chart below illustrates, change in the price per foot that homes in this price range have sold for over the past 5-years varies fairly significantly between the areas we are looking at. Luxury home prices have increased the most in Chesterfield with prices rising from $200 per foot in 2013 to $232 per foot thus far in 2018, an increase of 16% in that 5-year period. The Clayton market has fared well too with home prices increasing 12% during the period from $280/foot to $314/foot. Town & Country saw just a modest 1.8% increase during the period and Wildwood actually lost ground with the median price per foot dropping about 1 percent from $175/foot in 2013 to $173/foot thus far in 2018.
Luxury Home Sold Price Per Foot – Past 5-Years
(click chart for complete, live data)
When it comes to how long it takes to sell a luxury home, Clayton has consistently performed the best and continues to improve. In 2013, the median time to sell a luxury home in Clayton was 72 days, thus far this year it’s been just 43 days, a 40% improvement. Town and Country saw a 27 percent improvement in the time to sell, while Chesterfield saw a 23% increase in the time to sell and Wildwood a whopping increase of over 200% in the time to sell a luxury home.
Luxury Home Time To Sell – Past 5-Years
(click table for complete, live data)
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Over the past 20 years, there have been 2.75 times more homes sold in St Louis County (250,486) than St Charles County (90,933). Given that the population in St Louis County at the beginning of this period was 4 times that of St Charles County and, even today is nearly 2.6 times more, St Charles County has definitely held it’s own in the housing market.
St Louis County dominates the $1mil+ home market…
St Charles County may be keeping up with St Louis county in the overall housing market, however, when we look at the luxury home market, homes selling for $1 million or more, St Louis County dominates that market. As the tables below show, in the past 20 years, there have been nearly 42 times as many $1mil+ homes sold in St Louis County as there were in St Charles County. Over the past 20 years, there were 2,847 $1mil+ homes sold in St Louis County and just 68 in St Charles County during the period.
St Charles County – $1mil+ Homes – 1998-Oct 2017
St Louis County – $1mil+ Homes – 1998-Oct 2017
There shortage of inventory in the $1mil+ market…
As the tables above also reveal, there is no shortage of inventory in the luxury home market in St Louis County or St Charles County with a current supply of homes for sale of 16 months and 19 months respectively.
Search St Louis County Luxury Homes For Sale HERE
Search St Charles County Luxury Homes For Sale HERE
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, that is not the story for the $1Million+ market.
As the table below shows, there are currently 287 homes listed in St Louis County and St Charles County at a price of $1 million dollars or more which, based upon current sales rates, translates into more than a years supply.
St Charles County and St Louis County $1 Million+ Homes For Sale
(click on table for up to date chart and table)
Search St Louis Homes For Sale HERE
See ALL Homes That Will Be Open In St Louis This Weekend
See All The Million Dollar Plus Homes Currenlty For Sale Throughout the St Louis Area Continue reading “No Listing Shortage Of Million-Dollar Listings In St Louis“
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 Louis County Luxury Home Buyers Fared Much Better Over Past 10 Years Than St Louis City Buyers
As our 10-year chart below shows, luxury home prices (homes that sold for $750,000 or above) have done much better in St Louis County, with the median price per foot represented on the chart below by the yellow line, than they have done in the City of St Louis (brown line). The median price per square foot (the most accurate way to compare home prices) for luxury homes sold in St Louis County during 2007 was $230 and in 2017 luxury homes have sold in St Louis County thus far at $244 per square foot, an increase of 6.1% from 10 years ago. For the city of St Louis, luxury homes sold for a median price of $185 per square foot in 2007 and for 2017 have sold for a median price of $152 per square foot, a decline of 21.7% from 10 years ago. As the chart illustrates so dramatically, St Louis county luxury home prices were not impacted by the market crash of 2008 nearly as much as in the city of St Louis.
Search St Louis Homes For Sale HERE
See ALL Luxury Homes For Sale
See ALL Luxury Condos For Sale
See ALL Luxury Homes With Open Houses This Weekend
Continue reading “Is It Better To Invest In a Luxury Home In St Louis County or City?“
St Louis is known as an affordable place to live so it is not surprising that there is a fairly robust housing market for affordable and moderate priced homes. When it comes to luxury homes in St Louis however ($500,000 and above for the sake of discussion here), the market is much cooler. As the charts below for 2015 and 2016 illustrate, St Louis Luxury home prices have remained flat over the past two years, while more moderately priced homes have increased in price.
St Louis MSA Luxury Home Market…
On the chart below, the baby blue line representing the median price luxury homes sold for is flat-lined for the past two years at $650,000 while seller’s have become more realistic and the median list price fell from $674,900 in 2015 to $669,450 in 2016. On a positive note, luxury home sales have been on the rise increasing nearly 13 percent from 1,448 homes sold in 2015 to 1,636 homes sold during 2016.
St Louis MSA Affordable/Moderate Priced Home Market…
The chart for this market paints a pretty uplifting picture with all the chart lines on the rise over the period. As the chart below depicts, the median price of homes sold in this category increased nearly 6% from $155,000 in 2015 to $164,000 during 2016. The number of homes sold rose over 8% from 29,445 during 2015 to 31,987 in 2016.
Search St Louis Homes For Sale HERE
See ALL Homes That Will Be Open In St Louis This Weekend
Find The Value Of Your Home In Under A Minute!
Continue reading “Moderate Priced Homes In St Louis Out Perform Luxury Home Sales“
St Louis Condo sales have steadily grown over the past 3 years from 2,216 sales for the 12 month period ended June 30, 2011 to 3,141 sales for the 12 month period ended June 30, 2014, an increase of 41.8% in that 3 year period. I think this is the result of actually two things; one, the recovery of the St Louis housing market which we are in the midst of, as well as greater acceptance of condominiums for a residence by St Louisan’s.
During the same period, St Louis home sales, as the chart below illustrates, have increased as well from 20,643 homes sold for the 12 month period ended June 30, 2014 to 27,113 homes sold for the period ended June 30, 2014, an increase of 31.3% during the 3 year period. While that is a respectable increase, it’s 25% less than the increase in condo sales during the same period.
In compiling stats for both St Louis home sales as well as St Louis condo sales, data for the city of St Louis as well as the counties of St Louis, St Charles, Jefferson and Franklin were combined to present a look at the overall St Louis market.
Search ALL St Louis Condos for sale HERE
Find more information on St Louis Condominiums HERE.
The St Louis Luxury Home Market is concentrated within the central corridor of the St Louis area with the highest median home prices (of homes listed) currently being found in Frontenac, with a median price of $1,326,654, followed by Ladue, Town and Country, Clayton and Creve Coeur.
Like the rest of the St Louis real estate market, The St Louis Luxury Home Market suffered when the housing bubble burst a few years ago but is it on the road to recovery like the bulk of the St Louis housing market? To address this, I looked at the market from several angles and analyzed the following data for the top 25% of each market (based upon price):
Charles Hoffman, dean of the College of Business Administration at the University of Missouri in St Louis has listed his 11,000+ square foot home that sits on 1.5 acres in Sunrise Beach at Lake of the Ozarks for sale for $5,895,000. According to the listing agents description, this is the “Deal of the Century”. Mr. Hoffman, prior to becoming Dean at UMSL, was, according to Wikipedia, President and CEO of Covad Communication Group and is known as a turnaround artist for struggling companies.
Lake of the Ozarks (Camden County) Luxury Homes For Sale – $5,000,000+
Piqued your interest? If you would like more information on any of these homes or for a private viewing, click here.
Disclaimer: The information herein is believed to be accurate and timely, but no warranty whatsoever, whether expressed or implied, is given. Information from third parties is deemed reliable but not verified and should be independently verified. MORE, REALTORS does not display the entire IDX database of Mid America Regional Information Systems, Inc. (MARIS MLS) on this website.
Retired Rams quarter back Marc Bulger has listed his 11,587 square foot house that sits on over 6.5 acres at 2701 South Lindbergh in Huntleigh for sale for a cool $7,499,000. Mr. Bulger acquired the home for $3,550,000 in 2007 from it’s former owner, Marilyn Schnuck.
Known as the “Percy Orthwein House”, Mr Bulger’s house was designed by famed architects Maritz and Young. You can see this home, as well as other St Louis area homes on the market for $7,000,000+ in the slide show below.
St. Louis Luxury Homes For Sale – $7,000,000+
Piqued your interest? If you would like more information on any of these homes or for a private viewing, click here.
Disclaimer: The information herein is believed to be accurate and timely, but no warranty whatsoever, whether expressed or implied, is given. Information from third parties is deemed reliable but not verified and should be independently verified. MORE, REALTORS does not display the entire IDX database of Mid America Regional Information Systems, Inc. (MARIS MLS) on this website.
UPDATE 10/10/14 -You missed out, it’s sold! The sale of Chris Carpenter’s house closed today for the price of $3,000,000.
UPDATE 7/02/14 -If price was holding you back from buying Chris Carpenter’s house, maybe this will help…today he lowered the asking price to $3,500,000!
St. Louis Luxury Homes For Sale – $3,000,000+
Piqued your interest? If you would like more information on any of these homes or for a private viewing, click here.
Disclaimer: The information herein is believed to be accurate and timely, but no warranty whatsoever, whether expressed or implied, is given. Information from third parties is deemed reliable but not verified and should be independently verified. MORE, REALTORS does not display the entire IDX database of Mid America Regional Information Systems, Inc. (MARIS MLS) on this website.
July 18, 2014 Update -After 4 months on the market and no sale, the price on the Capps’ home was reduced today by $355,000 to $5.295 million.
Yesterday, the home of the former Plaza Motors CEO, John Capps, and his wife Deborah, hit the market with a $5.65 million price tag. The home, at 12 Huntleigh Woods, in the exclusive Huntleigh community, was built in 2005, has almost 10,000 square feet of living area and sits on over 2 acres according to the information available. Homes in this price range are not common in St Louis, in fact, at the present time, this is just one of 5 luxury homes in St Louis with a price tag north of $5,000,000. Check out the slide show below to see them all.
St. Louis Luxury Homes For Sale – $5,000,000+
Piqued your interest? If you would like more information on any of these homes or for a private viewing, click here.
Disclaimer: The information herein is believed to be accurate and timely, but no warranty whatsoever, whether expressed or implied, is given. Information from third parties is deemed reliable but not verified and should be independently verified. MORE, REALTORS does not display the entire IDX database of Mid America Regional Information Systems, Inc. (MARIS MLS) on this website.
One of the great things about St. Louis is the affordability of good homes in quality neighborhoods, however, St Louis does have it’s share of expensive homes as well. So, what are St Louis’ most expensive neighborhoods? The table below shows the 15 most expensive neighborhoods in St Louis, based upon median asking price of homes currently for sale.
In the thirty year period from 1980 to 2010 the number of housing units in St Charles county tripled from 49,523 units to 141,016 units. St Charles’ growth has been fueled in part by an abundance of affordable new homes but that doesn’t mean St Charles county doesn’t have it’s share of luxury homes though! According to the latest housing data from the US Census Bureau, about 3 percent of the housing units in St Charles, or about 3,300 units, are valued at $500,000 or above.
Below is a slide show revealing St Charles County Most Expensive Homes For Sale:
Continue reading “St Charles County Most Expensive Homes For Sale“
St Louis luxury home sales (home sales of $1Mil or above) increased in the past 12 months almost 8 percent from the year with 182 homes being sold for $1 million or more in the St Louis core area (city of St Louis and the counties of St Louis, St Charles, Jefferson and Franklin). Luxury home sales in St Louis peaked between 11/06 and 11/07 when there were 268 homes sold. St Louis luxury home prices have not kept pace with sales with the average luxury home price declining for the past two years, however, thanks to increased sales, the overall dollar volume of homes sold has increased.
Search St Louis Luxury Homes For Sale HERE
The table below has complete sales data for luxury home sales in St Louis from 2005 to present.
The top four markets in the country for $1 Million+ home sales are all, not surprisingly, located in the state of California, according to a recently released luxury home sales report by Redfin. With 474 $1 million+ home sales, San Francisco was #1 on the list, followed by 469 home sales in Los Angeles, 430 in Silicon Valley and 415 in San Diego, all during the 14 month period ended March 31, 2013.
The St Louis Luxury Home market has communities that would have made the list, however Redfin does not cover the St Louis market. As you can see below, during the same period, the St Louis luxury home market had 5 cities with more than a dozen $1 Million+ home sales. Continue reading “St Louis’ Top Luxury Home Markets“
“McMansions“, which Wikipedia defines as “a large, new house in a sub-division of similarly large houses, which all seem mass produced and lacking distinguishing characteristics” and became popular in the 80’s and 90’s, are not appealing to today’s younger home buyer, according to a survey conducted by Better Homes and Gardens® Real Estate. According to the survey, “Millennial’s” which, for the sake of this survey was considered to be people between the ages 18 and 35, are looking for a home that is distinctly different than that of their parents generation which, for many of them, are the baby boomers. This group of young home buyers are not looking for stereotypical and prototypical luxury homes (ie: McMansion) but instead want homes that are different and suit their personal lifestyle.
Continue reading “McMansions Not Appealing To Babyboomers Kids“
