By Dennis Norman, on November 10th, 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 Continue Reading →
By Dennis Norman, on October 23rd, 2014 Over 80,000 homeowners, or 27% of all homeowners with a mortgage, in St Louis County are seriously underwater on their mortgage meaning the total balance of their mortgages represents 125% or more of the current value of their home. In addition, there are 53,548 homeowners, or 18% of all homeowners with a mortgage, in St Louis County that have mortgage balances between 90% and 110% of the value of their home, according to data just released by RealtyTrac.
As the table below shows, for the St Louis MSA, 21% of homeowners with a mortgage are underwater and 19% have “resurfacing equity” (mortgage balances equal 90% Continue Reading →
By Dennis Norman, on October 22nd, 2014 Around this time of year every year, people start asking me “Where is the real estate Market headed next year?” The real estate market is affected by so many factors that predictions on what the market will do are hard, however there are some basic fundamentals that can be looked at to make a good educated guess. One of the industry experts out there that I think does a good job at this and, offers a somewhat less biased look at the market than some, is Frank Nothaft, Chief Economist at Freddie Mac. Below are highlights of his most recent report on the outlook of the housing market along with my comments relating his projection to our St Louis market: Continue Reading →
By Dennis Norman, on October 20th, 2014 St Louis Home Sales increased 2.66 percent in September 2014 from a year ago and St Louis home prices increased 3.19 percent during the same period, according the latest data available from MORE, REALTORS.
As the table below shows, three of the five counties that make up the St Louis core market, saw an increase in home sales in September 2014 from a year ago and four of the five saw an increase in home prices during the same period.
Search all St Louis Homes For Sale HERE
(We work hard on this and Continue Reading →
By Dennis Norman, on October 17th, 2014 In spite of the fact that the St Louis housing market is improving, there are still St Louis neighborhoods that favor buyers or are buyers markets. The 15 top buyers markets in St. Louis can be found in a variety of neighborhoods throughout the area including within the city of St Louis as well as in the counties of St Louis, St Charles, Jefferson and Franklin. As the table below shows, the hottest buyers market in St Louis as of today is Gray Summit with a Market Action Index of 20, according to the latest data available from MORE, REALTORS. Continue Reading →
By Dennis Norman, on October 16th, 2014 Foreclosures in the St Louis area fell dramatically during the 3rd quarter of this year with 1,529 total foreclosure actions on property in the St Louis MSA, a decline of 28.05 percent from the prior quarter and a decline of 53.04 percent from the same quarter a year ago, according to the latest data from RealtyTrac. As our table below shows, during the 3rd quarter of this year all the counties in the core area of the St Louis market saw double digit declines in foreclosure activity from both the quarter before as well as the same period a year Continue Reading →
By Dennis Norman, on October 14th, 2014 One of the most frequent questions I have been asked over the years by home buyers is “Should I Buy A Home Directly From The Listing Agent?” While no answer is correct for every situation, I would say that, in most cases, the answer to this question is “no”, you should not buy a home directly from the listing agent. You may be thinking though “won’t I get a better deal by cutting out the middle man?” In reality by going to the listing agent you are in fact NOT cutting out the “middle man” because in 99.99%* of the Continue Reading →
By Dennis Norman, on October 13th, 2014 The fastest selling neighborhoods in St Louis are found in St Louis county with the bulk of them in West St Louis County and the exceptions in Mid-County, according to the latest data available from MORE, REALTORS. As the table below shows, the fastest selling neighborhood in St Louis as of today is Rock Hill where homes on the market have been for sale an average of 41 days.
(We work hard on this and sure would appreciate a “Like”)[iframe http://www.facebook.com/plugins/like.php?href=https%3A%2F%2Fwww.facebook.com%2FStLouisRealEstateNews&send=false&layout=standard&width=50&show_faces=false&font&colorscheme=light&action=like&height=35&appId=537283152977556 100 35 ]
Search ALL Homes For Sale in St Louis Find ALL Homes For Sale That Continue Reading →
By Dennis Norman, on September 29th, 2014 There were 2,017 Pending Home Sales in St Louis in August, down from 2,293 pending home sales in July and down 6.6% from August 2013 when there were 2,159 pending home sales,, according to MORE, REALTORS. There have been a total of 15,998 pending home sales in St Louis year to date through the end of August 2014 which is a decline a 4.9% from the same time last year when there were 16,829 pending home sales. Continue Reading →
By Dennis Norman, on September 22nd, 2014 St Louis Home Sales were down 5.21 percent in August 2014 from a year ago however St Louis home prices increased 6.44 percent during the same period, according the latest data available from MORE, REALTORS.
As the table below shows, Franklin County and Jefferson County saw an increase in home sales during the past year however the other counties that make up the core St Louis market did not. All of the five counties that make up the bulk of the St Louis real estate market saw an increase in home prices from last year with Continue Reading →
By Dennis Norman, on September 16th, 2014 Nearly all of the 15 top sellers markets in St. Louis are in St. Louis County, with the only exceptions being number 12 on the list, Barnhart in Jefferson County, and number 15, O’Fallon in St Charles County, according to the latest data available from MORE, REALTORS. The list below is based upon MORE’S Market Action IndexTM which, among other things, looks at supply, demand and inventory for an area and then applies an index value to it.
(We work hard on this and sure would appreciate a “Like”)[iframe http://www.facebook.com/plugins/like.php?href=https%3A%2F%2Fwww.facebook.com%2FStLouisRealEstateNews&send=false&layout=standard&width=50&show_faces=false&font&colorscheme=light&action=like&height=35&appId=537283152977556 100 35 ]
Search ALL St Louis Homes For Sale Continue Reading →
By Dennis Norman, on September 11th, 2014 For the first time in a long time, there was an increase in St Louis Foreclosures with 497 foreclosure actions in August, equivalent to 1 foreclosure action for every 2,511 housing units, an increase of 2.47 percent from the month before. While up from the month before, St Louis Foreclosures in August 2014 were down 58.41% from August 2013. As the table below shows, St Charles County had a big decline in foreclosure activity in August and the city of St Louis a modest decline, but Jefferson County and Franklin County both saw increases in foreclosures over over 100% from Continue Reading →
By Dennis Norman, on September 10th, 2014 One month ago yesterday, officer Darren Wilson shot Michael Brown and suddenly Ferguson, the little city where I grew up and began my career in real estate in 1979, became the focus of national news and headlines for days and weeks ahead. Unfortunately, the coverage of the shooting has cast Ferguson in a very negative light and no doubt will hurt the progress the city has made over the past several years to revitalize its city and make it an attractive place to live, work and start a business. This website is about real estate, so while I think this Continue Reading →
By Dennis Norman, on September 9th, 2014 The number of St Louis Foreclosures (bank and government owned) continues to decline resulting in just 335 St Louis Foreclosures being sold during the month of August 2014 in the St Louis Core market, a decline of 44% from August 2013 when there were 598 St Louis Foreclosures sold. What hasn’t changed though is the fact that nearly two-thirds (62%) of the foreclosures sold were cash sales for both periods. For the St Louis real estate market as a whole, cash sales made up for fewer of the home sales in August 2014 with just 22% of all homes being Continue Reading →
By Dennis Norman, on September 8th, 2014 St Louis home prices have increased 7 percent in the past year for the St Louis core market as a whole, but St Louis home sales have not followed suit and are on track for fewer home sales this year than last. You can find out more about this as well as get other useful information on the St Louis real estate market, including where the SELLERS MARKETS are in St Louis and the GOOD BUYERS MARKETS in our 5-Minute Market Update Video For September 2014 below.
Many areas of St Louis have become sellers markets due to increasing demand Continue Reading →
By Dennis Norman, on September 5th, 2014 In spite of improvements in the St Louis real estate market and many areas becoming Seller’s markets due to low inventory and high demand, there are sill neighborhoods in St Louis where the market favors buyers. The top ten buyer’s markets in St Louis, listed in the table below, are in a variety of locations with two areas within the city of St Louis, and the rest in Jefferson and Franklin county. Absent from the list are buyers markets in St Louis county and St Charles county.
(We work hard on this and sure would appreciate a “Like”)[iframe http://www.facebook.com/plugins/like.php?href=https%3A%2F%2Fwww.facebook.com%2FStLouisRealEstateNews&send=false&layout=standard&width=50&show_faces=false&font&colorscheme=light&action=like&height=35&appId=537283152977556 Continue Reading →
By Dennis Norman, on August 28th, 2014 St Louis Pending Home Sales slipped in July falling to a total of 2,654 pending home sales for the 5-county core area of the St Louis market, down 7.8 percent from the month before when there were 2,877 pending home sales, according to MORE, REALTORS. Year to date through the end of July, there have been 16,789 St Louis Pending Home Sales, down 4.6 percent from the same time last year when there were 17,603 St Louis Pending Home Sales. On a positive note, pending home sales for the month of July 2014 were slightly higher than they were for Continue Reading →
By Dennis Norman, on August 22nd, 2014 St Louis Home Sales were down slightly in July 2014 (2.25%) from a year ago however St Louis home prices increased 3.3% during the same period, according the latest data available from MORE, REALTORS.
As the table below shows, St Charles County and Franklin County both saw an increase in home sales in July 2014 from July 2014 while the other 3 counties in the core market saw a decrease in home sales during the same period. Home prices increased in the counties of St Louis, St Charles and Jefferson and declined slightly in the City Continue Reading →
By Dennis Norman, on August 18th, 2014 Where are the best buyers markets in St Louis? Can a home buyer still find a great deal in St Louis? These are questions we hear frequently today as the St Louis real estate markets continues to improve and many neighborhoods have a shortage of homes for sale thereby creating a sellers market. Let your heart not be troubled though, there are still some buyers markets in St Louis where the buyer has the upper hand.
What makes a neighborhood a buyers market? For the sake of this discussion, I am using our market action index to determine where the Continue Reading →
By Dennis Norman, on August 14th, 2014 St Louis foreclosure activity was on the decline again in July with a total of 485 foreclosure actions taking place in the St Louis MSA during the month which equates to foreclosure activity on 1 of every 2,573 housing units, according to data released this morning by RealtyTrac. This represents a decline in St Louis foreclosure activity of 19.57% from the month before and a decline of 59.0% from July 2013. As the table below shows, with the exception of Franklin County, all of the major Missouri counties of the St Louis MSA saw a decline in foreclosure activity from Continue Reading →
By Dennis Norman, on August 12th, 2014 The largest price gains in home prices over the past year are found in a variety of St Louis area neighborhoods however there is a concentration of them in the 40 corridor from mid-county to west county. In compiling data for this article, I looked at what I feel is the best indicator of home price change, price per square foot, and selected neighborhoods that had at least a 10% increase in home prices during the past 12 months.
There are charts below showing the price per foot for the past year for each specific neighborhood as well as our Continue Reading →
By Dennis Norman, on August 11th, 2014 St Louis home prices have increased in the past year and you can find out by how much, as well as a ton of other useful information on the St Louis real estate market, such as where the HOT SELLERS MARKETS are in St Louis, the GOOD BUYERS MARKETS (down to just 11 neighborhoods this month) and a whole lot more in our 5-Minute Market Update Video For August 2014 below.
Many areas of St Louis have become sellers markets due to increasing demand and lack of inventory. If you have considered selling, or perhaps tried and failed in the Continue Reading →
By Dennis Norman, on July 24th, 2014 Even though, for a while now, foreclosures have been on the decline in St Louis as well as in most parts of the country, there are still many St Louis neighborhoods that are being impacted significantly by foreclosure activity. While after the housing bubble burst in 2008 we foreclosures appeared in most every neighborhood in St Louis from areas with the lowest values to areas with the highest, there has been a concentration of foreclosure activity in a few areas of St Louis. The city of Florissant, for one, is an area that has had more than it’s fair share Continue Reading →
By Dennis Norman, on July 22nd, 2014 St Louis Home Sales as well as St Louis home prices have increased in the past year 3,179 homes sold in June 2014 in the St Louis core market (St Louis city and the counties of St Louis, St Charles, Jefferson and Franklin) an increase of 3 percent from June 2013 when there were 3,086 homes sold. During this same period, St Louis home prices increased 5.81 percent from a median price of $155,000 in June 2013 to a median price of $164,000 in June 2014, according to the latest data available from MORE, REALTORS.
As Continue Reading →
By Dennis Norman, on July 21st, 2014 While the St Louis real estate market is recovering from the aftermath of the housing bubble hurst, the market is still very price sensitive and therefore I cannot over emphasize the importance of pricing your home right from the outset at the beginning of the listing.
However, many sellers fear this strategy as they think no matter what price they list at the buyer will still offer less than the asking price. I will address this issue by saying that is simply not true. Buyers today, in my humble opinion, are more educated and savvy than homes buyers were during Continue Reading →
By Dennis Norman, on July 17th, 2014 St Louis Foreclosure activity dropped in June to a rate of 1 foreclosure action on every 2,070 units, a decline of nearly 50 percent (49.58%) from June 2013, and down 13.11% from the month before, according to a report just released this morning by RealtyTrac. The table below shows the numbers for the St Louis metro area as a whole as well as a breakdown by county and, as the table shows, all the counties in the St Louis, Missouri core market saw declines of nearly 50% or better in the past year and all, except the city of St Continue Reading →
By Dennis Norman, on July 16th, 2014 St Louis’ Hottest Real Estate Markets for this month has a new city at the top of the Hot Markets list, Glendale! Glendale, with a market action index of 50 (anything above a 30 is a sellers market, 60 is the highest it can go) is number 1 on the list followed closely by last month’s #1 neighborhood, the 63021 zip of Ballwin with a 49.
In terms of inventory of homes for sale, the list is pretty much the same as June, with the top 9 slots all the same as last month and the top 3 having only Continue Reading →
By Dennis Norman, on July 14th, 2014 The St Louis housing market continues to improve however, as I always say, real estate is very local so markets vary widely from city to city and neighborhood to neighborhood. Not that long ago, most of the neighborhoods in St Louis were buyers markets, according to our Market Action Index however, over the past year or so, many have moved into seller’s market territory. This doesn’t mean there aren’t any buyers markets left however, and in the table below I bring you the Ten Best Buyers Markets In St Louis based upon our Market Action Index.
Search ALL St Louis Continue Reading →
By Dennis Norman, on June 23rd, 2014 St Louis Home Prices rose 4 percent from May 2013’s median sales price of $150,000 to May 2014’s median price of $156,000 for the 5-county core St Louis housing market which consists of the City of St Louis and the counties of St Louis, St Charles, Jefferson and Franklin, according to the latest data released by MORE, REALTORS. As the table below shows, the city of St Louis saw the biggest gain in median home prices with the median sales price increasing over 27% from May 2013 to May 2014.
St Louis Home Sales are still Continue Reading →
By Dennis Norman, on June 20th, 2014 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 Continue Reading →
|
Recent Articles
Helpful Real Estate Resources
|
