St. Louis Real Estate Market and Home Prices Update – November 18, 2011

Weekly I produce a short video update on the St. Louis Real Estate Market that is published on various web sites. I do a quick recap of the news in the St Louis real estate market for the week, then an overview of the St Louis housing market itself. The update includes charts with up to the date data on the St Louis housing market including St Louis home prices, average time to sell a home in the St Louis area as well as other data and charts to show where the St Louis real estate market is and where it is headed. (Check out all our market update videos on our YouTube Channel – click here.

NEW! You can now subscribe to our ITUNES Podcast Channel to receive our updated market videos via podcast automatically each week! Just click here, then click on “Subscribe Free”.)

Continue reading “St. Louis Real Estate Market and Home Prices Update – November 18, 2011

St. Louis Real Estate Market and Home Prices Update – September 9, 2011

Weekly I produce a short video update on the St. Louis Real Estate Market that is published on various web sites. I do a quick recap of the news in the St Louis real estate market for the week, then an overview of the St Louis housing market itself. The update includes charts with up to the date data on the St Louis housing market including St Louis home prices, average time to sell a home in the St Louis area as well as other data and charts to show where the St Louis real estate market is and where it is headed. (Check out all our market update videos on our YouTube Channel – click here.

NEW! You can now subscribe to our ITUNES Podcast Channel to receive our updated market videos via podcast automatically each week! Just click here, then click on “Subscribe Free”.)

Continue reading “St. Louis Real Estate Market and Home Prices Update – September 9, 2011

St. Louis Real Estate Market and Home Prices Update – September 2, 2011

Weekly I produce a short video update on the St. Louis Real Estate Market that is published on various web sites. I do a quick recap of the news in the St Louis real estate market for the week, then an overview of the St Louis housing market itself. The update includes charts with up to the date data on the St Louis housing market including St Louis home prices, average time to sell a home in the St Louis area as well as other data and charts to show where the St Louis real estate market is and where it is headed. (Check out all our market update videos on our YouTube Channel – click here.

NEW! You can now subscribe to our ITUNES Podcast Channel to receive our updated market videos via podcast automatically each week! Just click here, then click on “Subscribe Free”.)

Continue reading “St. Louis Real Estate Market and Home Prices Update – September 2, 2011

St. Louis Real Estate Market and Home Prices Update – August 26, 2011

Weekly I produce a short video update on the St. Louis Real Estate Market that is published on various web sites. I do a quick recap of the news in the St Louis real estate market for the week, then an overview of the St Louis housing market itself. The update includes charts with up to the date data on the St Louis housing market including St Louis home prices, average time to sell a home in the St Louis area as well as other data and charts to show where the St Louis real estate market is and where it is headed. (Check out all our market update videos on our YouTube Channel – click here.) Continue reading “St. Louis Real Estate Market and Home Prices Update – August 26, 2011

St. Louis Real Estate Market and Home Prices Update – August 12, 2011

Weekly I produce a short (roughly 5 minute) video update on the St. Louis Real Estate Market that is published on various web sites. I do a quick recap of the news in the St Louis real estate market for the week, then an overview of the St Louis housing market itself. The update includes charts with up to the date data on the St Louis housing market including St Louis home prices, average time to sell a home in the St Louis area as well as other data and charts to show where the St Louis real estate market is and where it is headed. (Check out all our market update videos on our YouTube Channel – click here.) Continue reading “St. Louis Real Estate Market and Home Prices Update – August 12, 2011

St. Louis Real Estate Market Update – July 1, 2011

Weekly I produce a short (roughly 5 minute) video update on the St. Louis Real Estate Market that is published on various web sites. I do a quick recap of the news in the St Louis real estate market for the week, then an overview of the St Louis housing market itself. The update includes charts with up to the date data on the St Louis housing market including St Louis home prices, average time to sell a home in the St Louis area as well as other data and charts to show where the St Louis real estate market is and where it is headed. (Check out all our market update videos on our YouTube Channel – click here.) Continue reading “St. Louis Real Estate Market Update – July 1, 2011

St Louis Real Estate Market Update – May 6, 2011

Weekly I produce a short (roughly 5 minute) video update on the St. Louis Real Estate Market that is published on various web sites. I do a quick recap of the news in the St Louis real estate market for the week, then an overview of the St Louis housing market itself. The update includes charts with up to the date data on the St Louis housing market including St Louis home prices, average time to sell a home in the St Louis area as well as other data and charts to show where the St Louis real estate market is and where it is headed. (Check out all our market update videos on our YouTube Channel – click here. Continue reading “St Louis Real Estate Market Update – May 6, 2011

St Louis Real Estate Market Update – April 29, 2011

Weekly I produce a short (roughly 5 minute) video update on the St. Louis Real Estate Market that is published on various web sites. I do a quick recap of the news in the St Louis real estate market for the week, then an overview of the St Louis housing market itself. The update includes charts with up to the date data on the St Louis housing market including St Louis home prices, average time to sell a home in the St Louis area as well as other data and charts to show where the St Louis real estate market is and where it is headed.  (Check out all our market update videos on our YouTube Channel – click here. Continue reading “St Louis Real Estate Market Update – April 29, 2011

St Louis Real Estate Market Update

Weekly I produce a short (roughly 5 minute) video update on the St. Louis Real Estate Market that is published on various web sites. I do a quick recap of the news in the St Louis real estate market for the week, then an overview of the St Louis housing market itself. The update includes charts with up to the date data on the St Louis housing market including St Louis home prices, average time to sell a home in the St Louis area as well as other data and charts to show where the St Louis real estate market is and where it is headed. Continue reading “St Louis Real Estate Market Update

St Louis Real Estate Market Update

Weekly I produce a short (roughly 5 minute) video update on the St. Louis Real Estate Market that is published on various web sites. I do a quick recap of the news in the St Louis real estate market for the week, then an overview of the St Louis housing market itself. The update includes charts with up to the date data on the St Louis housing market including St Louis home prices, average time to sell a home in the St Louis area as well as other data and charts to show where the St Louis real estate market is and where it is headed. Continue reading “St Louis Real Estate Market Update

St Louis Real Estate Market Report

Dennis Norman

The St. Louis real estate market picked up a little steam in the first quarter of this year with an increase in the number of homes sold over the prior quarter, a reduction in the months-supply of homes for sale and a sharp increasing in pending sales.  The homebuyer tax credit with it’s deadline to enter into contract to buy a home of April 30th helped fuel the increase in pending sales no doubt, but hopefully that wasn’t the only impetus.

Here’s a county by county look at the St. Louis real estate market for the first quarter of 2010:

St. Louis County:

  • 5,989 Homes for Sale
    • 2 percent increase from the prior quarter
    • 14.8 percent decrease from a year ago
  • 872 Homes Sold
    • 11.9 percent increase from the prior quarter
    • 11.1 percent increase from a year ago
  • 1,345 Pending Home Sales
    • 89.7 percent increase from the prior quarter
    • 37.5 percent increase from a year ago
  • Months Inventory of homes for sale
    • Based on Closed Sales – 6.9 months, down from 7.5 months in the prior quarter and down from 9.0 months a year ago
    • Based on Pending Sales – 4.5 months, down from 8.3 months in the prior quarter and down from 7.2 months a year ago

St. Louis City:

  • 1,497 Homes for Sale
    • 5.2 percent decrease from the prior quarter
    • 25.0 percent decrease from a year ago
  • 252 Homes Sold
    • 21.7 percent increase from the prior quarter
    • 7.2 percent increase from a year ago
  • 372 Pending Home Sales
    • 120.1 percent increase from the prior quarter
    • 36.3 percent increase from a year ago
  • Months Inventory of homes for sale
    • Based on Closed Sales – 5.9 months, down from 7.6 months in the prior quarter and down from 8.5 months a year ago
    • Based on Pending Sales – 4.0 months, down from 9.3 months in the prior quarter and down from 7.3 months a year ago

St. Charles County:

  • 2,442 Homes for Sale
    • 2.7 percent increase from the prior quarter
    • 13.7 percent decrease from a year ago
  • 331 Homes Sold
    • 42.1 percent increase from the prior quarter
    • 25.9 percent increase from a year ago
  • 238 Pending Home Sales
    • 102.9 percent increase from the prior quarter
    • 45.0 percent increase from a year ago
  • Months Inventory of homes for sale
    • Based on Closed Sales – 7.4 months, down from 10.2 months in the prior quarter and down from 10.8 months a year ago
    • Based on Pending Sales – 5.1 months, down from 10.0 months in the prior quarter and down from 8.5 months a year ago

Jefferson County:

  • 1,810 Homes for Sale
    • 3.8 percent increase from the prior quarter
    • 10.0 percent decrease from a year ago
  • 190 Homes Sold
    • 31.9 percent increase from the prior quarter
    • 15.2 percent increase from a year ago
  • 283 Pending Home Sales
    • 99.3 percent increase from the prior quarter
    • 28.3 percent increase from a year ago
  • Months Inventory of homes for sale
    • Based on Closed Sales – 9.5 months, down from 12.1 months in the prior quarter and down from 12.2 months a year ago
    • Based on Pending Sales – 6.4 months, down from 12.3 months in the prior quarter and down from 10.4 months a year ago

Franklin County:

  • 887 Homes for Sale
    • 4.2 percent decrease from the prior quarter
    • 1.7 percent decrease from a year ago
  • 68 Homes Sold
    • 1.4 percent decrease from the prior quarter
    • 17.2 percent increase from a year ago
  • 106 Pending Home Sales
    • 73.8 percent increase from the prior quarter
    • 45.2 percent increase from a year ago
  • Months Inventory of homes for sale
    • Based on Closed Sales – 5.9 months, down from 7.6 months in the prior quarter and down from 8.5 months a year ago
    • Based on Pending Sales – 4.0 months, down from 9.3 months in the prior quarter and down from 7.3 months a year ago

 

Over 30 percent of St. Louis homes for sale have had price cut

Dennis Norman

Dennis Norman

Last week I did a post on another blog about a report that had just been released by Trulia indicating that over 25 percent of the homes listed for sale in the U.S. had experienced a price reduction in the 5-month period from June 1 through October 1st and that the average price reduction was about 10 percent.

Mid America Regional Information Systems MARIS MLSIn an effort to see how things here in St. Louis were stacking up to the national numbers from Trulia, I wanted to assemble the same data, for the same period that Trulia did and see how we compare.  I was able to do this with the help of my friends at Mid-American Regional Information Systems (MARIS), the MLS provider for the St. Louis region. Continue reading “Over 30 percent of St. Louis homes for sale have had price cut

What homes are selling in St. Louis?

what homes are selling in st louis?By: Dennis Norman

Lately the news on the real estate market has been a little more optimistic and almost encouraging at times.  Most of the news and stats are national or regional and, as I and others have said many, many times, all real estate is local.  So what’s going on in the St. Louis market and more specifically, what is selling here?

In putting together stats for this post I included data from the following areas:

St. Louis Association of REALTORS(R) Presidents’ view of the market – Final Post of the series

Dennis Norman

Dennis Norman

By: Dennis Norman

Earlier this week I did part one  , and yesterday part two of my E-View with Carole Baras, CRS, GRI, ePRO, the 2009 President of the St. Louis Association of REALTORS(R) to get her take on the St. Louis real estate market.

Today I’ll pick up where I left off and complete my E-View with Carole:

Carole Baras, 2009 President, St. Louis Association of REALTORS(R)

Carole Baras, 2009 President, St. Louis Association of REALTORS(R)

Dennis – Carole, What do you feel are the best opportunities today for buyers in St. Louis?

Carole – Buyers that are looking to purchase a home and are first time buyers have NEVER had the opportunity they have today.  A GIFT of $8,000 (the first-time buyer tax credit) is unheard of in the past and first time buyers really need to take advantage of this offer.  Continue reading “St. Louis Association of REALTORS(R) Presidents’ view of the market – Final Post of the series

St. Louis Association of REALTORS(R) Presidents’ view of the market – Second Post in a series

Dennis Norman

Dennis Norman

By: Dennis Norman

Yesterday I did part one of my E-View with Carole Baras, CRS, GRI, ePRO, the 2009 President of the St. Louis Association of REALTORS(R) to get her take on the St. Louis real estate market.

Today I’ll pick up where I left off and complete my E-View with Carole:

Carole Baras, 2009 President, St. Louis Association of REALTORS(R)

Carole Baras, 2009 President, St. Louis Association of REALTORS(R)

Dennis – Carole, obviously many things are affecting the real estate market at this time, many in a negative way unfortunately.  What negative forces do you see working against the St. Louis real estate market  and what effect are they having?

Carole – The city of St. Louis as well as the North County area of St. Louis county have been most affected by the foreclosure rate and this has had a direct impact on the average price of homes.  Continue reading “St. Louis Association of REALTORS(R) Presidents’ view of the market – Second Post in a series

St. Louis Association of REALTORS(R) Presidents’ view of the market – First Post in a series

Dennis Norman

Dennis Norman

By: Dennis Norman

Last month I published my E-View with Karen Vennard, the 2009 President of the St. Charles County Association of REALTORS(R) to get her take on the real estate market in St. Charles County.  Now it’s time for the St. Louis side of the Missouri River. 

To find out the status of the real estate market in St. Louis County, as well as the City of St. Louis, I turned to Carole Baras, CRS, GRI, ePRO, the 2009 President of the St. Louis Association of REALTORS(R) to get her take on the market. Continue reading “St. Louis Association of REALTORS(R) Presidents’ view of the market – First Post in a series

Report shows St. Louis metro prices to decrease by 2% in next 12 months

Dennis Norman

Dennis Norman

By: Dennis Norman

A report published by Local Market Monitor, Inc. predicts the St. Louis metro area will see real estate values decline 2% in the coming 12 months.  This projection does not sound bad and would support the possibility that the market is leveling off and perhaps we have seen the bottom.

Local Market Monitor June Graph

Local Market Monitor Graph - St. Louis Metro Area, Home Values Forecast vs. Actual

The report also states that in the St. Louis metro market jobs have fallen by 2.5% in the past year, compared with a drop of 4% nationwide.  According to Local Market Monitors “Equilibrium” report, home prices in this area are “balanced”, meaning not over priced, nor under priced.  They also note that home prices in our market are 27% lower than the national average.