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Below is our St Louis Real Estate Market Report for February 2023 for the City and County of St Louis combined. You can access the full infographic, containing data for St Charles, Jefferson and Franklin Counties as well by clicking on the image below. Search St Louis Homes For Sale Search St Louis Upcoming OPEN HOUSES St Louis Real Estate Report for February 2023 (click on infographic for complete report including other counties) During November, there were 255 properties with foreclosure filings in the St Louis MSA, according to ATTOM Data’s U.S. Foreclosure Market Report. This represents an increase of 42% in St Louis foreclosures from November of 2021 but is a decline of over 76% from the prior month, according to the report. As the chart below shows, 8 counties reported an increase in foreclosures from a year ago, 2 counties had a decrease in foreclosure activity and 5 had no change in activity. Macoupin County, Illinois saw the largest increase at 367% followed by Warren County, Missouri at 300%. [xyz-ips snippet=”Foreclosures-For-Sale-and-Homes-For-Sale”] Is the St Louis real estate market going to crash? The national news is filled lately with reports of slowing housing markets throughout the country, increasing inventories, falling sales and prices. Some prognosticators are predicting some metro areas will see home prices fall by as much as 40 or 50 percent. Is the St Louis real estate market on a similar trajectory?? While I can’t predict the future, I can share data to help you see where the St Louis real estate market is currently as well as where the data shows it’s headed. [xyz-ips snippet=”Market-Update-Video–Media-Center”] [xyz-ips snippet=”Seller-Resources—Listing-Targeted”] Below is our St Louis Real Estate Market Report for October 2022 for the City and County of St Louis combined. You can access the full infographic, containing data for St Charles, Jefferson and Franklin Counties as well by clicking on the image below. Search St Louis Homes For Sale Search St Louis Upcoming OPEN HOUSES St Louis Real Estate Report for October 2022 (click on infographic for complete report including other counties) During the third quarter of this year, there were 907 properties with foreclosure filings in the St Louis MSA, according to ATTOM Data’s U.S. Foreclosure Market Report. This represents an increase of 44.43% in St Louis foreclosures from the same quarter a year ago but is a decline of 16% from the second quarter of this year, according to the report. As the table below shows, with the exception of Bond County in Illinois, all 15 counties reported had an increase in foreclosure activity during the 3rd quarter over last year, and all at least a double-digit increase. Lincoln County, Continue Reading → Below is our St Louis Real Estate Market Report for September 2022 for the City and County of St Louis combined. You can access the full infographic, containing data for St Charles, Jefferson and Franklin Counties as well by clicking on the image below. Worth noting and remembering is not all data is created equally nor is all of what you see reported accurate. Given the challenging and rapidly changing economic times we are in which are having an direct impact on the St Louis housing and real estate market, now, almost more than ever, you need to be sure Continue Reading → A little over two weeks ago I wrote my most recent article addressing St Louis home prices titled “Will St Louis Home Prices Decline?” in which my short answer was “yes”, but kind of tongue in cheek and based upon the seasonality of home prices, but my longer answer was more vague. I mentioned that there certainly is a correction coming but pointed out that there are so many variables that will affect prices that it is hard to say to what extent this correction will be. While this is still true, a lot has happened in the short time Continue Reading → Apparently a lot of consumers are concerned about the housing market crashing or at least concerned enough to be online searching for answers. According to Google Trends the search phrase “Will The Housing Market Crash?” has hit it’s 5-year peak in terms of interest level during the last 4-5 months. In addition, according to Google Adwords tools, there are 10,000 – 100,000 searches for month for the phrase “Will The Housing Market Crash?” and 100,000 – 1,000, 000 monthly searches for “housing market crash“. Will there actually be a housing market crash in St Louis? I guess first we should Continue Reading → St Louis Real Estate Report for June 2022 (click on infographic for complete report including other counties) Price reductions are quickly showing up more and more on real estate listings in the St Louis area. As the Infograph below illustrates, 31% of the current active listings in St Louis have had at least one price reduction. Since the price homes sell at isn’t known until closing and a home sale typically takes 4 to 6 weeks to close, the actual sold prices won’t reflect these price reductions for a while. For example, in the past 30 days (through today) there have been 2,381 closings of home sales in the 5-county St Louis core market at a median Continue Reading → In an article published yesterday, I referenced the Sitzer vs National Association of REALTORS law suit and said I would have a more in-depth discussion about that suit and here it is. The lawsuit was filed by Joshua Sitzer, Amy Winger, Scott and Rhonda Burnett and Ryan Hendrickson on June 21, 2019 against the National Association of REALTORS® and the parent companies of major real estate companies and franchises including Coldwell Banker, ReMax, Keller Williams and Berkshire Hathaway Homeservices. The Sitzer lawsuit was filed in the United States District Court for the Western District of Missouri sought to be certified Continue Reading → St Louis Real Estate Report for March 2022 (click on infographic for complete report including other counties) Yesterday, I wrote an article addressing the high rate of inflation just reported and its impact on the St Louis housing market. In it, I promised to take a deeper look into the effect of the current events related to the economy on St Louis home prices which I will do in this article. Before I go further, I should mention I’m not an economist nor a fortune teller. I am, however, a real estate broker and data nerd that has spent over 40 years in the St Louis real estate industry. I try my best to use my knowledge Continue Reading → St Louis Real Estate Report for February 2022 (click on infographic for complete report including other counties) New sales of listings (an accepted offer) in St Louis in November are outpacing new listings with 1.06 new sales for every 1 new listing. As the leading indicator reports below illustrate (available exclusively from MORE, REALTORS®), for the first 3 weeks in November, there have been 2,139 new sales of listings and 2,026 new listings. At the same time a year ago, new sales outpaced new listings at 1.24 to 1, so the current trend is down 15%. Worth noting in the data is that new sales of St Louis homes in the first three weeks of November 2021 Continue Reading → Anyone paying even a little attention to the St Louis real estate market will likely be aware of the fact that we have been in a strong seller’s market for the past couple of years and St Louis home prices, as a result, have increased significantly. In fact, as the infographic below shows (exclusively available from MORE, REALTORS®) the median home price for a St Louis home has increased more than 50% in the past 14 years. However, the good news is that during that same period mortgage interest rates have fallen and remained low resulting an increase in the Continue Reading → I’ve written a couple of articles lately addressing the news reports about the housing market cooling down. As I’ve addressed in those articles, there has not really been much data supporting a significant cooling in the St Louis real estate market. Additionally, I’ve noted that, due to the seasonality of the housing market, and the fact we are headed toward winter, a cooling of the market would be the seasonal norm. So today, I decided to pick an easier question to answer, “has the St Louis real estate market peaked?” The short answer is yes, I believe it has. This Continue Reading → More and more today I’m seeing reports in the media about the housing market cooling down and sales slowing which, quite frankly, I have expected and keep watching for signs of it in the St Louis real estate market. However, in spite of a few blips on the radar, all the data I’m reviewing still shows pretty steady and consistent home sales in St Louis. Don’t get me wrong, I fully expect us to see a cooling of the St Louis market if for no other reason, winter will be here soon and then we’ll be headed toward year-end when Continue Reading → There continue to be conversations by St Louis REALTORS® as well as other industry professionals as to whether or not the market is cooling off somewhat or slowing down. I keep watching the data closely to look for signs of a substantive change and while there are some, the market adjustments appear to be somewhat insignificant at this point. Last month, in an article about July’s market, I pointed out a slight slowing of the trend in July. Now, I’m taking a look at August, specifically, the number of new listings that came on the St Louis real estate market Continue Reading → The St Louis real estate market has started off 2021 strong, but is a change coming? Closings of home sales in January were strong with more sales closing than in January of last year, but with everything going and the uncertainty of the economy will it continue? I address both the current state of the St Louis real estate market, as well as discuss our “leading indicator” data which gives us a glimpse of where the market is headed in the St Louis Real Estate Market Update video you can access below. [xyz-ips snippet=”Market-Update-Video-Package”] [xyz-ips snippet=”Seller-Resources—Listing-Targeted”] Continue Reading → The St Louis real estate market has slowed a little in February thus far. As the Local Market Trends reports (availably exclusively from MORE, REALTORS® ) show, new contracts written on listings as well as new listings in St Louis 5-County Core market, were down in each of the first two weeks of February both from the prior week as well as from the same period a year ago. New contracts written (new sales): As the reports below show, there were 590 new contracts written (new sales) on homes during the 2nd week of February which was 13% fewer contracts Continue Reading → I think just about everyone that is trying to buy or sell a home in St Louis or even thinking about it, is well aware that we have been in a strong real estate market here in St Louis for some time now. The St Louis real estate market has favored sellers for the past several years largely due to a low supply of homes for sale and continuing demand by home buyers. The question I’m often asked though, especially right now with so much going on in our country right now that could impact the economy (COVID-19 and the Continue Reading → Given the impact of COVID-19 on the St Louis real estate market, particularly during the late winter/early spring months as well as a low-inventory market already, it should not come as a surprise that St Louis area home sales have trended downward somewhat during the past 12-months. As our STL Market Report below shows, for the 5-county core St Louis real estate market, there were 26,723 homes sold during the 12-month period ended July 31, 2020, a decline of 0.88% from the prior 12-month period when there were 26,960 homes sold. That very modest decline I think is actually very Continue Reading → COVID-19 who? While it’s still around, it’s impact on the St Louis real estate market has dissipated to the point that we are seeing activity at levels higher than this time last year. For example, as the report below shows, there were 1,245 new sales of residential listings in the St Louis MSA last week, an increase of 10 percent from the same time a year ago. St Charles County was the county with the second-highest number of sales with 217 for the week which was a 32% increase from a year ago! St Louis County, the county with the Continue Reading → There were 542 homes “flipped” in the St Louis metro area during the first quarter of 2020, or 8.5% of the total number of homes sold in the St Louis metro area during the quarter, according to data just released by ATTOM Data Solutions. This is an increase of 13.8% from the prior quarter and is a decrease of 2% from a year ago. The median gross profit was 52,900 a 60.8% gross ROI. Definition of a “flipped” home… For the purposes of this report, a flipped home is considered to be any home or condo that was sold during Continue Reading → The St Louis real estate market slowed when the effects of COVID-19 hit the St Louis area in early March but after continuing at a slower pace for a few weeks has quickly shifted gears to a faster pace. The St Louis market has improved to the point that, for the 12-month period ended May 31, 2020, St Louis home sales were down just 1.84% from the prior 12-month period. The median price of homes sold during the past 12-months was $213,000, an increase of 6.55% from the prior period. [xyz-ips snippet=”Homes-For-Sale-and-Listings-With-Virtual-Tours”] St Louis 5-County Core Market Home Sales Continue Reading → While COVID-19 has not released it’s grip on us, it has eased the grip and certainly, this is true with regard to the St Louis real estate market. As I’ve written about recently, showings of listings have increased to the point they have outpaced the same time as last year and now, the number of new contracts on listings is just about there as well! As the table below shows, the number of new contracts on residential listings in the last 7 days that have been reported is, for the St Louis MSA, down just 3% from the same time Continue Reading → As the St Louis real estate market continues to distance itself from the effects of COVID-19 and the resulting stay at home orders and business shutdowns, I continue to see market activity that is encouraging. For example, as the chart below shows, for the most recent week, reported (through last Thursday) the showing activity on listings in St Louis and surrounding areas were at a level that is 3.9% higher than for the same period last year. This is a huge rebound since showings hit bottom in the middle of the lock-down on April 9th and fell to a level Continue Reading → The St Louis real estate market continues to be on the upswing and recovering from the impact of COVID-19. The pandemic did slow the St Louis real estate market down for a while but it appears to be recovering quite quickly. Get all of this and more in this month’s update. Interest rates, the “cherry on top”. In case the market rebound isn’t enough, mortgage interest rates are at near historic lows making now a great time, and an affordable time, to buy a house if you are in a position to do so. [xyz-ips snippet=”Market-Update-Video-Package”] [xyz-ips snippet=”Seller-Resources—Listing-Targeted”] Continue Reading → |
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