The St Louis real estate market had a strong finish in 2019! One of the many great things for the St Louis housing market about a strong finish in 2019 is that 2020 begins strongly as well! January will be a key month in terms of whether the trend will continue or whether December’s uptick was an isolated event. Another encouraging thing about the real estate market is that long term mortgage interest rates remain low! See in the video just how powerful this is! How a house today will actually cost you less than a little over a year Continue Reading →
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Foreclosure rates and mortgage delinquency rates have steadily declined over the past couple of years as the housing market, as well as the overall economy, have both continued to improve and thrive. Nonetheless, foreclosures still take place and during 2019 the St Louis MSA had the 8th highest foreclosure rate of the 20 largest MSAs, according to the latest data released by Attom Data Solutions. As the table below shows, during 2019, in the St Louis MSA there was 1 foreclosure action for every 232 housing units. Philadelphia, PA, had the highest foreclosure rate of the 20-largest MSAs with one Continue Reading → The outlook for the St Louis real estate market for the new year looks pretty good. Watch for the release of our St Louis Housing Market Forecast for 2020 coming out in the next few days to get some insight into this year’s real estate market here in St Louis. Happy New Year! Search St Louis Homes For Sale Search St Louis Upcoming OPEN HOUSES Continue Reading → There were 762 homes “flipped” in the St Louis metro area during the third quarter of 2019, or 6.3% 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 a decline of 15% from the prior quarter as well as a 5% decrease from the prior year. As our table below shows, on a national level, house flipping accounted for just 5.4% of the homes sold during the 3rd quarter of this year, which is a 9% decrease from the quarter before and Continue Reading → Between low, low-interest rates and the seasonally low home prices, there is no better time to buy a home! Just like every year, home prices are declining and will continue to decline over the next few weeks until they hit their “winter bottom” and then start the climb back to spring prices. All the while, mortgage interest rates remain low, giving you more buying power than a year ago, even at the higher home prices! Find out more, as well as get information on some of St Louis’s best resources for home buyers and sellers in our just-released market update Continue Reading → Are you one of those people like me that didn’t go out and fight the crowds on Black Friday in search of deals and instead waited until today to catch the Cyber Monday deals online from the comfort of your home or office? Or perhaps you were out Friday shopping and now you are back at it online? In any event, don’t forget that Cyber Monday deals come 7 days a week this time of the year in real estate! That’s right! Like I discussed here on Black Friday, some of the best deals of the year on St Louis Continue Reading → As you get ready to head to the stores today for all those Black Friday bargains, perhaps you should jump on St Louis Real Estate Search and find a few houses to look at as well? Well, if you have been thinking about buying a home, you would do well to buy now rather than wait for spring. As the table below shows, based upon data just released from ATTOM Data Solutions, people in Missouri that buy homes in October, November or December get the best deals of the year! This may account for the fact that there were 25% Continue Reading → The St Louis real estate market trends remain steady and consistent! The St Louis home sales and price trends give me an optimistic outlook for next year. Low-interest rates continue to offset some of the cost of the increases in home prices that have occurred. Find out more, as well as get information on some of St Louis’s best resources for home buyers and sellers in our just-released market update video. [xyz-ips snippet=”Market-Update-Video–Inline-Link”] [xyz-ips snippet=”Market-Update-Video-Package”] [xyz-ips snippet=”Seller-Resources—Listing-Targeted”] There were 3,379 homes sold in Jefferson County in the 12-month period ending September 30, 2019, a very slight decline of about 1% from a year ago when there were 3,413 homes sold in the prior 12-months. For the past three months, the 12-month home sales trend in Jefferson County has been amazingly consistent, with data for July and September being identical and August being off by just 1 home sale. Prices on the rise and inventory is low in Jefferson County.. As the STL Market Report for Jefferson County below the chart shows, there is just a 2.75 month Continue Reading → There were 5,755 homes sold in St Charles County in the 12-month period ending September 30, 2019, a decline of 5.2% from a year ago when there were 6,070 homes sold in the prior 12-months. This is the lowest 12-month trend since February 2016 when there were 5,676 homes sold in the prior 12-months. As the chart below illustrates, even with the declining trend in home sales in St Charles County, it is still significantly higher than back in 2014 and 2015. Lack of listings in St Charles could be part of the problem… As the STL Market Report for Continue Reading → The St Louis real estate market is slowing down somewhat as it does every year around this time, but the market still looks good. Low-interest rates continue to offset some of the cost of the increases in home prices that have occurred. Find out more, as well as get information on some of St Louis’s best resources for home buyers and sellers in our just-released market update video. [xyz-ips snippet=”Market-Update-Video–Inline-Link”] [xyz-ips snippet=”Market-Update-Video-Package”] [xyz-ips snippet=”Seller-Resources—Listing-Targeted”] There were 902 homes “flipped” in the St Louis metro area during the second quarter of 2019, or 7.5% 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 a decline of 12% from the prior quarter but is an 8% increase from the prior year. As our table below shows, on a national level, house flipping accounted for just 5.9% of the homes sold during the 2nd quarter of this year, which is an 18% decrease from the quarter before and a Continue Reading → The St Louis real estate market is still going strong and interest rates are dirt cheap! Not much has changed over the past few months in the St Louis housing market in terms of home prices and sales, prices continue to rise at normal, healthy rates and sales continue along at a rate a little shy of last year. What has changed dramaticaly over the past 9 or 10 months however, are interest rates. The have dropped by a third and in this months market update video I do a little math and show just how much that impacts home Continue Reading → The rate of foreclosure in St Louis during the 2nd quarter of this year was 1 foreclosure filing for every 759 housing units, a decrease of 15.68% from the prior quarter and a decline of 18.54% from the 2nd quarter of 2018, according to data just released by ATTOM Data Research. St Louis has the 73rd highest foreclosure rate of the 220 MSA’s ranked in the report. As the table below shows, only three counties in the St Louis MSA saw an increase in foreclosure activity this quarter from the prior quarter and, with the exception of Lincoln County, none Continue Reading → The St Louis real estate market continues to show strength and favors sellers, however, buyers have shown they are price-sensitive. While most of the St Louis market remains a seller’s market based upon the lack of inventory for sale, this does not mean (and the data backs it up) that it’s a blank check for sellers. Buyers in the market appear to be savvy and are price sensitive. In fact, one frustration I hear from agents with over-priced listings is that, not only do they only have few showings, they are not receiving offers. I think the issue is Continue Reading → The rate of foreclosure in St Louis in May was 1 foreclosure filing for every 2,013 housing units, an increase of 7.7% from the month before but a decline of 18.8% from May 2018, according to data just released by ATTOM Data Research. As the table below shows, six counties in the St Louis MSA saw an increase in foreclosure activity in May from the month before however, all the counties in the St Louis MSA except 3, saw a decline from a year ago. [xyz-ips snippet=”Foreclosures-For-Sale-and-Homes-For-Sale”] St Louis MSA Foreclosure Rate By County – May 2019 Continue Reading → The strong St Louis housing market, as well as the strong economy, continues to help improve mortgage delinquency rates and foreclosure rates in St Louis. The rate of foreclosure in St Louis in April was 1 foreclosure filing for every 2,167 housing units, a decline of 17.4% from the month before when the rate was 1 in every 1,865 housing units, according to the latest data from ATTOM Data Solutions. The April St Louis foreclosure rate was down 17.9% from the year before. As the table below shows, over half the counties in the St Louis MSA saw an increase Continue Reading → The number of home sales in St Louis may be down from the recent past but it’s still a Seller’s market! The lack of home sales in St Louis is certainly not a result of a lack of interest, on the part of home buyers, but more a lack of sellers. This is clear in the data I presented in this months market update video. Find out more, as well as get information on some of St Louis’s best resources for home buyers and sellers in our just-released market update video. [xyz-ips snippet=”Market-Update-Video–Inline-Link”] [xyz-ips snippet=”Market-Update-Video-Package”] [xyz-ips Continue Reading → During the first quarter of this year, there were foreclosure filings on 1,948 properties in the St. Louis MSA, which equates to 1 foreclosure filing for every 51 housing units, according to the latest data from ATTOM Data Research. As the table below, which shows data for the 20-largest metro areas in the U.S., shows, this foreclosure rate puts St Louis at number 7 on the list in terms of foreclosure rate. [xyz-ips snippet=”Foreclosures-For-Sale-and-Homes-For-Sale”] 1st Quarter 2019 – Foreclosure Filings – 20 Largest MSA’s Data Source: ATTOM Data Solutions -© 2019 St Louis Real Estate News Home sales in St Louis are on a slower pace than this time last year. The St Louis real estate market is still performing well, but just not at the same sales rate as last year thus far. Find out more, as well as get information on some of St Louis’s best resources for home buyers and sellers in our just-released market update video. [xyz-ips snippet=”Market-Update-Video–Inline-Link”] [xyz-ips snippet=”Market-Update-Video-Package”] [xyz-ips snippet=”Seller-Resources—Listing-Targeted”] Real property tax in Missouri consists of taxes assessed by the state of Missouri, the County the property is located within as well as the municipality the property is located in. Not all municipalities charge property tax though, and the rate charged by county varies, so there can be a fairly significant difference in property tax rates from neighboring municipalities and counties. The table below shows the 20 Counties in Missouri with the lowest effective property tax rates. At the top of the list is Benton County where the effective tax rate is just 0.11%. Franklin County is the only Continue Reading → Yesterday, I wrote about Missouri having the 27th lowest effective property tax rate of the 50 states, so today I decided to look at property tax rates for the largest MSA’s around the country. Included in my list are the 219 MSA’s with a population of 200,000 or more. As the table below shows, at the top of the list, with the lowest effective real property tax rate of the MSA’s is Laredo, Texas with an effective property tax rate of just 0.35%. The states of Alabama and Colorado both have 3 MSA’s on the list of the 10 MSA’s Continue Reading → Missouri falls in about the middle of the states in the U.S. in terms of real property taxes based upon the effective rate. As the first table below shows, Missouri, with an effective property tax rate of 1.04% in 2018, comes in at the 27th lowest state. Hawaii is at the top of the list with the lowest effective tax rate at 0.37% and New Jersey comes in last with the highest property tax rate at 2.25%. Right behind New Jersey, is our neighbor to the east, Illinois, where the effective property tax rate is 2.22%, over twice as high Continue Reading → The St Louis real estate market is still doing well however, home sales are off to a slower start this year than last year. Find out more, as well as get information on some of St Louis’s best resources for home buyers and sellers in our just-released market update video. [xyz-ips snippet=”Market-Update-Video–Inline-Link”] [xyz-ips snippet=”Market-Update-Video-Package”] [xyz-ips snippet=”Seller-Resources—Listing-Targeted”] Since the announcement of the Better Together plans to merge the County and City of St Louis together into one big “Metro City”, there has been a lot of talk about the impact this would have on the St Louis real estate market. I’ve had several conversations with people in the real estate industry that feel St Charles County, as well as some of the other surrounding counties, will benefit if the Better Together plan succeeds. Their optimism is based upon the belief that, given what appears to be a tremendous groundswell of opposition to the plan from residents of Continue Reading → I promise not to turn this article into one of my boring, lengthy diatribes that only a data nerd could enjoy, however, I do want to discuss something that I think is very important for all home buyers, sellers and investors. Given that today there is a plethora of “data” and “information” available to us thanks, in large part, to the internet, and that home buyer, sellers, and investors (as well as the real estate agents working with them) make decisions based, at least in part, to those things, it is imperative to know you have the right data and Continue Reading → At the end of last month, Better Together, a not-for-profit group aimed at combining St Louis City and St Louis County into one big “Metro City”, released their plan for doing so. To say this is a hot topic among residents of those two areas would be an understatement. Proponents of the plan say it will make St Louis the 9th largest city in the U.S., will streamline government, dilute the city crime stats making them appear to be better and, in the end, lead to increased economic development and growth for the region. Opponents, such as the Municipal League Continue Reading → The St Louis real estate market is off to a little slower start this year and there are some indicators that we may be in for a little price correction in some areas. Find out more, as well as get information on some of St Louis’s best resources for home buyers and sellers in our just-released market update video. [xyz-ips snippet=”Market-Update-Video–Inline-Link”] [xyz-ips snippet=”Market-Update-Video-Package”] [xyz-ips snippet=”Seller-Resources—Listing-Targeted”] 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 Continue Reading → The St Louis real estate market closed out another good year with 2018 finishing just slightly behind the year before in terms of home sales. Thus far, it looks like 2019 is off to a good start as well although higher interest rates will, no doubt, cause a little tension in the market this year. Find out more, as well as get information on some of St Louis’s best resources for home buyers and sellers in our just-released market update video. [xyz-ips snippet=”Market-Update-Video–Inline-Link”] [xyz-ips snippet=”Market-Update-Video-Package”][xyz-ips snippet=”Seller-Resources—Listing-Targeted”] |
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