Where in St Louis are home prices rising the fastest? As the St Louis real estate market settles into what appears to be a sustainable recovery, home prices are on the rise in most St. Louis neighborhoods. The table below shows the 10 St Louis neighborhoods where home prices have increased the most over the past year. Keep in mind, this data is based upon the asking price of homes for sale and does not necessarily indicate an increase in the property values of all homes in the areas shown, however, in general, if the prices of homes for sale Continue Reading →
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It doesn’t take a rocket scientist to know that home prices typically rise in the spring as the St Louis real estate market heats up however, it is more of a challenge to find those areas that may out perform the others. So, which St Louis neighborhoods are poised for a strong spring housing market? As I wrote about earlier this week, a recovery of the St Louis real estate market is underway, however, some areas will fare better than others of course. For some home buyers the “investment” aspect of their next home is secondary as the school district, Continue Reading → It’s hard to believe that it has been over 5 years since the housing market bubble burst but, as we begin this new year, it is good to continue to see market data that supports a St Louis housing market recovery is underway! As we have been reporting here on St Louis Real Estate News, over the past few months we have seen a solid recovery trend in the St Louis real estate market. Home prices have increased as have home sales, the new home market continues to make progress with new home construction and sales on the rise and Continue Reading → St. Louis foreclosures have declined roughly 50 percent from a year ago, according to the latest data from RealtyTrac. As the table below shows, the foreclosure rate for the 3 main counties of St Louis (city of St Louis, St Louis County and St Charles county) was down from the month before (or about the same for the city), however Franklin and Jefferson county saw an increase from the month before. All five counties have seen a significant drop in foreclosure rate from a year ago. (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 Continue Reading → Recovery is underway! The St Louis real estate market is definitely showing signs of a sustained recovery trend for the market based upon the latest market contained in our St Louis Real Estate Market update video below. Invest just 5 minutes of your time watching our market update, and you will be smarter than the average bear about the St Louis real estate market! 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. You can now subscribe to our ITUNES Podcast Channel to receive our updated Continue Reading → St Louis, like the rest of the country, began the build up to the housing bubble around 2000 only to see the bubble burst in 2008 and then where we find the St Louis market today; in recovery mode. So, during this period , which St Louis area county saw the most home value appreciation overall? Well, the “winner” isn’t even a county per se, it’s the City of St Louis with a 86.85 percent increase in median home values from 2000 to 2012, according to data from the US Census Bureau. As the table below shows, the Continue Reading → St. Louis short sales accounted for just 1 percent of the overall home sales activity during October in the core market of St. Louis (the city of St Louis and counties of St Louis, St Charles, Jefferson and Franklin), according to the latest data from RealtyTrac. As the table below shows, Jefferson County had the largest percentage of short sales in October at 7% and St Charles and Franklin both the lowest at 0%. REO sales (prior foreclosures that are now bank owned) on the other hand, made up 7 percent of St Louis area home sales in October, an Continue Reading → St Louis homes sales (the 5-county core market*) increased slightly in October 2013 to 2,211 sales from 2,207 sales the month before. However, as the table below shows, a couple of key things worth noting are that October home sales increased 6.76 percent from October 2012 and, in October 2013, distressed sales (foreclosures, short sales, REO’s) accounted for just a little over 20% of total home sales, down from almost 31% a year ago. St Louis home prices, as the chart below shows, have steadily risen in the past year from a median price of $130,000 in October 2012 to Continue Reading → All 10 of the St Louis neighborhoods where homes are selling the quickest are found in St. Louis County, according to the latest data available from MORE, REALTORS. As the table below shows, the 63040 zip in Grover has the lowest median time homes for sale have been on the market at just 35 days. The chart below the table shows the number of homes that were sold during October 2013 in each of these zip codes that made the top ten list for fastest selling St Louis neighborhoods. Ballwin saw the most home sales with almost 70 in the Continue Reading → St. Louis foreclosure activity shot up in October from the month before for the metro area as a whole with foreclosure actions occurring on 1 of every 923 housing units, according to the latest data from RealtyTrac. Even with the increase, October’s foreclosure activity rate for the St Louis metro area was down over 20% from a year ago. Foreclosure activity varied widely across the St Louis metro area with St Louis county seeing a 77% month over month increase and St. Charles and Franklin county both seeing declines in month over month as well as year over year rates. Cash Home Buyers in St Louis were responsible for 50 percent of the home sales in September 2013 in the St Louis Metro area, according to a new report just released today by RealtyTrac. The report showed that state-wide, cash buyers accounted for 48 percent of home sales in Missouri during the month. As the table below shows (a St Louis Real Estate News Exclusive), in the city of St Louis 69 percent of the home sales in September were cash sales. Cash sales are often associated with investors and, as the table shows, there is no lack of investor Continue Reading → The foreclosure rate in St Louis fell to 1.04 percent for the month of August, a decline of 33.5 percent from a year ago when the St Louis foreclosure rate was 1.55 percent, according to a report just released by CoreLogic. The national foreclosure rate for August at 2.36 percent was over twice as high as the St Louis rate. Other good news for the St Louis real estate market contained in the report was that the St Louis mortgage delinquency rate (90 days or more late) was 3.78 percent, a decrease of 16.6 percent from a year ago when Continue Reading → A new Rasmussen Reports survey just released reveals that most Americans (51%) believe buying a home is a good investment. The results of this survey are in line with what similar survey’s by Rasmussen have revealed throughout 2012 and 2013, however is down from May 2009 when 67% of Americans Surveyed said it was a good time to buy, marking an all-time high. Thinking of buying a home? Search St Louis homes for sale here. House flipping in St Louis is on the rise according to the 3rd quarter house flipping report just released this morning by RealtyTrac, the foreclosure tracking gurus. What is “house flipping”? Well, back when I entered the real estate business (1979) and began buying and selling homes, a “flip” was referred to as a house we sold and would close the our purchase, as well as our resale, on the same day. Today, “flipping” is applied to a home that is bought and then resold within a short period, for the purposes of the RealtyTrac report, 6 months. The RealtyTrac Continue Reading → Lawrence Yun, chief economist for the National Association of REALTORS (NAR), cautioned today that, given the fact the U.S. Government spends one dollar for every 75 -80 cents it takes in, if the debt ceiling isn’t raised, the government will have to decide where to cut its spending. Should the government choose not to pay its interest obligations, “we can expect interest rates on Treasury bonds to rise…and if that happens, mortgage rates will rise, because mortgage rates follow Treasury rates.” Yun went on to say that if mortgage interest rates do rise we can expect home sales to drop Continue Reading → It’s a fickle market… The government shut-down and economy that is, at best, somewhat unstable, continues to keep home buyers somewhat timid. As the data shows in our just-released 5 minute market update, St Louis home prices and St Louis home sales have both increased in the past year, but the market is fairly fragile at this point. 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. You can now subscribe to our ITUNES Podcast Channel to receive our updated market videos via podcast automatically Continue Reading → As we enter the 7th day of the government shut down, concern grows among home buyers and sellers as to how this may affect the transactions here in St Louis. The short answer is that, fortunately, it appears the impact will be minimal for the most part. This morning at a meeting of the St Louis Industry Forum, which I chair, this topic was discussed and from the input of the real estate-related professions represented, it appears the impact of the government shutdown on real estate transactions here will be minimal. Shelly Clark, President of Cardinal Surveying, said that there Continue Reading →
St. Charles county is a “hidden gem” for real estate investors wishing to buy rental property, according to RealtyTrac’s newly published “List of Top 25 Hidden Gem Single Family Rental Markets“. St. Charles County was the only Missouri county that made the list and it came in at 21 on the list with a gross yield on rental property of 9.4 percent. The gross yield is determined by taking the annual median rent for a county and divide it by the median price of home in that county. In the case of St Charles county, the median Continue Reading → Eleven of the 12 fastest selling St. Louis neighborhoods are found in St. Louis County with the lone exception, which also happens to be #1 on the list, found in the city of St. Louis, according to the latest data available from MORE, REALTORS. The fastest selling neighborhoods list is ranked based upon the median time current listings have been on the market. At the top of the list, with a median time on market of 25 days, is the 63101 zip area of the city of St Louis, followed by the 63040 zip area in Grover at 29 days. Continue Reading → It’s still a seller’s market but it’s losing a little steam… Most of the St Louis area finds itself in a sellers market still however a few more neighborhoods slipped back into a buyer’s market this month, according to the St Louis Market Update from MORE, REALTORS. The St Louis real estate market is definitely volatile, making it more important than ever to be aware of current market conditions if you are in the market as a buyer or seller and the 5 minute market update video for September below can do just that for you! Thinking of selling Continue Reading → St Louis home sales, for the 12 month period ending August 31, 2013, increased 13.9 percent from the same period a year before. In the five county area that makes up the bulk of the St Louis real estate market (city of St Louis and the counties of St Louis, St Charles, Jefferson and Franklin) there were 26,436 homes sold during the period, up from 23,208 the year before.
Bidding wars for homes in St Louis cooled in July as the number of home sales where the final sales price exceeded the list price at the time of sale was 14.7 percent of all home sales in the St Louis 5-county core area (City of St Louis and Counties of St Louis, St Charles, Jefferson and Franklin), according to the latest data from MORE, REALTORS. This is down 8.7 percent from June, when 16.1 percent of the homes sold in St Louis were sold at a price in excess of the list price. Nationally, in July almost half Continue Reading → Ok, so you’re a guy, you went to church this morning with the family, came home and did a couple of “honey do” projects, played with the kids and walked the dog. Now it’s time for a little “ME TIME”, right? But…how do you get your peace and quiet to kick back and watch the game and yet still be at home with your family? The answer is simple…you need a MAN CAVE! What? No room in the house for one as the family has taken over? No problem! Here’s the answer, a Man Cave Shed! Best I can Continue Reading → It’s a seller’s market in 60 St Louis Neighborhoods! That’s right, according to the latest market data from MORE, REALTORS. 60 St Louis neighborhoods are experiencing a seller’s market while only 8 have a buyer’s market. Which ones you ask? Invest 5 minutes of your time watching my market up date video below and you will find out! 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. St Louis distressed home sales have fallen substantially in the past year with distressed home sales in June making up less than 1 in 5 home sales (18.3 percent) for the 5 county core area of the St Louis MO market (St Louis City and County, St Charles, Jefferson and Franklin Counties), according to the latest data from MORE, REALTORS. REO sales (bank and government-owned properties) accounted for just 15.8 percent of St Louis home sales in June (5 county core), down from 22.6 percent in June 2012. Short sales (where sellers sell for less than they owe) accounted Continue Reading → The St Louis foreclosure rate fell in May to 1.16 percent, down 33 percent from a year ago when the St Louis foreclosure rate was 1.75 percent, according to newly released data from Corelogic. More good news in the data is the fact that the St Louis mortgage delinquency rate declined in May as well, falling to 3.88 percent of all mortgage loans, down 17 percent from a year ago when the St Louis mortgage delinquency rate was 4.7 percent. Search St Louis Foreclosures HERE For Advice on How to Buy St Louis Foreclosures From A 2000+ Home Continue Reading → St Louis’ most expensive housing can be found in Ladue today where the median price of homes for sale, as of today, is $1,318,731, according to data compiled by MORE, REALTORS. Closely behind Ladue is Clayton, with a current median price of $1,149,788, then Town & Country at $897,308 and Des Peres (63122) at $864,169. As the chart below shows, all four areas have seen median home prices fall from their peak during the past year, but all four areas are still reporting home prices above where they were a year ago. The list below shows the current median list Continue Reading → St Louis Real Estate Home Prices On The Rise! It’s still a seller’s market in St Louis, according to the latest market data from MORE, REALTORS. The inventory of homes for sale remains low while home sale and prices are increasing. 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. Yes, I know how to spell “facts” and am aware that “fax” machines have went the way of the dinosaurs and therefore would never advise someone to get one, so what exactly am I talking about in my post title? Actually, my recent discovery of a company that was launched in 2012 called Housefax prompted me to do this post, hence “fax”, however, I also mean to suggest that you should get all the “facts” you can (about the house and market) before you buy a home. First, about Housefax. The company was launched last year and it’s top Continue Reading → Over the past few months we have seen St Louis home prices rise as the inventory of homes declines and buyers snap up the best deals about as fast as they hit the market. The question now is, “will home prices rise much more in the next year” and, if so, will they continue at the current pace? Well, 70 percent the agents surveyed during the month of June by Redfin say they expect home prices to rise “a little” over the next 12 months and just 16 percent said they felt prices would rise “a lot” (down from 44 Continue Reading → |
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