By Dennis Norman, on January 22nd, 2019 Jefferson County, with an estimated population of 221,577 during 2018, had 317 foreclosure filings during 2018, giving it the highest rate of foreclosure filings per capita, at 1 foreclosure filing for every 699 in population, of the all the Missouri counties with a population of 50,000 or greater. As the table below shows, the three Missouri counties with the highest foreclosure rate per capita are all located within the St Louis MSA and Boone County, in the Columia MSA, has the lowest foreclosure rate in the State.
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2018 Missouri Foreclosure Rates By County
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By Dennis Norman, on January 19th, 2019 Yesterday, I wrote an article about the number of foreclosures in St Louis during 2018 dropping to the lowest number in over 12 years, however, in spite of that good news, St Louis still has the 8th highest rate of foreclosure among the 20 largest metro areas in the U.S.
According to data just released by ATTOM Data Research, as the table below shows, during 2018 St Louis had a foreclosure filing for 1 of every 180 housing units. This rate puts St Louis at the 65th highest rate of the 219 MSA’s in the U.S. with a population of Continue Reading →
By Dennis Norman, on January 18th, 2019 As evidence of just how much the St Louis housing market has improved since the housing bubble burst a little over a decade ago, as well as a testimony as to the strength of our economy, the number of St Lous homeowners that lost their homes to foreclosure last year dropped to the lowest level in over 12 years.
As the tables below show, during 2018, 6,882 homeowners in the St Louis metro area received a notice of a foreclosure filing from their lender on their property, a decline of 6% from the prior year when 7,323 homeowners received a Continue Reading →
By Dennis Norman, on December 21st, 2018 In the last week, I’ve seen several reports indicating declining home sales on both a nationwide basis as well as for the St Louis market. The reports vary widely but one local report indicated single family home sales were down 6 percent from a year ago, which, of course, should cause some concern for both agents as well as consumers since a 6 percent decline is significant. However, this is why, for this very reason, MORE, REALTORS® developed their own proprietary software to analyze and report the market data (the same MLS data as the aforementioned report was based upon) Continue Reading →
By Dennis Norman, on December 17th, 2018 Every year around this time is when many homeowners that have their homes listed for sale discuss with their agent whether they should just take their home or condo off the market as Christmas approaches, then come back on the market after the beginning of the new year. Many homeowners that are thinking of selling contemplate the same thing trying to decide whether to come on the market before the holidays or wait until after.
It is a well-known fact this is a slower time of the year for the St Louis real estate market, but does that mean it’s Continue Reading →
By Dennis Norman, on December 9th, 2018
The St Louis real estate market is lagging a little behind last year in terms of home sales and the inventory of homes for sale is on the rise. While some of this is, of course, seasonal, perhaps some of it could be related to home prices increasing over the past year or so at a higher rate than the historical “norm” as well as may be reflective of the higher interest rates we are experiencing now versus last year.
While it’s still a seller’s market in some areas of St Louis and in some price ranges, our market Continue Reading →
By Dennis Norman, on November 25th, 2018 The median price of homes sold in Franklin County during the 12 month period ended October 31, 2018, was $150,000 according to the STL Market Report™ from MORE™, REALTORS®. As the STL Market Report™ below shows, this is exactly the same as during the prior 12-month period. During the most recent 12-month period, there were 1,282 homes sold in Franklin County, a decrease of 2.29% from the prior 12-month period. There is currently a 4.13 month supply of homes for sale in Franklin County and listings have been on the market a median time of 98 days.
STL Market Continue Reading →
By Dennis Norman, on November 24th, 2018 The median price of homes sold in Jefferson County during the 12 month period ended October 31, 2018, was $169,000 according to the STL Market Report™ from MORE™, REALTORS®. As the STL Market Report™ below shows, this is an increase in the median price of homes sold of 2.42% from the prior 12-month period. During the most recent 12-month period, there were 3,407 homes sold in Jefferson County, a decrease of 0.7% from the prior 12-month period. There is currently a 2.78 month supply of homes for sale in Jefferson County and listings have been on the market a median Continue Reading →
By Dennis Norman, on October 23rd, 2018 In contrast to reports from around the country of a cooling housing market and even a possible bubble in some markets, the St Louis real estate market continues to hold steady. As our exclusive, STL Market Report for the St Louis 5-County core market below shows, during the past 12-months homes have sold at about the same pace as the prior 12-month period, prices are up a little over 5 percent and the supply, while up, is still at a rather low 3 months.
St Louis 5-County core market home sales and prices
(click on table for Continue Reading →
By Dennis Norman, on October 14th, 2018 St Louis home sales continue to lag a little behind last year, however, through the end of September, year-to-date St Louis home sales are higher than they were for the ten years prior to last year! In fact, the YTD total home sales of 21,043 for the St Louis 5-County core market, falls just 130 home sales short of the 21,173 homes sold at this time back in the banner year of 2006. For the St Louis area, YTD home sales through September for this year are just 5.8% below the all-time high in 2005 when there were 22,344 homes Continue Reading →
By Dennis Norman, on August 24th, 2018 This morning I noticed the St Louis Business Journal was reporting “In July, the local housing inventory fell to 2.6 months…That marked a 26 percent decrease since the same month last year“. This report immediately caused me some concern as I didn’t think the inventory was down nearly that much. Given that I personally spend a ton of time staying on top of local market data and our firm, MORE, REALTORS has even developed its own proprietary software to ensure that our agents and clients have the best and most accurate local housing market data, I would like to think Continue Reading →
By Dennis Norman, on August 16th, 2018 While St Louis home sales are flat this year the overall market conditions remain good. The low inventory of homes for sale continues to benefit St Louis sellers! 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 [xyz-ips snippet=”Market-Update-Video–Inline-Link”] update video. [xyz-ips snippet=”Market-Update-Video-Package”] [xyz-ips snippet=”Seller-Resources—Listing-Targeted”]
By Dennis Norman, on August 9th, 2018 Yesterday, I had lunch with a friend in the industry who expressed his concern that the Jefferson County real estate market was cooling off a little and questioned the possibility a market correction. I referenced the article I wrote last week in which I explored the possibility of a market correction in St Louis and, based upon the data we have, came to the conclusion there wasn’t anything to be alarmed about at this time. However, I had looked at the 5 counties that make up the St Louis core market as a whole (which included Jefferson County) but did Continue Reading →
By Dennis Norman, on July 31st, 2018 This morning I watched a video from a firm that reports on the real industry and does so from a blunt, “call it as they see it”, perspective (pretty much my style too) in which they say “market correction indicators continue to roll in” and suggest that, to some extent, the party is over. This report looked at the national real estate market as a whole and specifically looked at the west coast so is not necessarily indicative of what is happening in the St Louis real estate market, however, can often be an early indicator.
As a result, I Continue Reading →
By Dennis Norman, on July 17th, 2018 The St Louis real estate market continues to be an enjoyable one for sellers who benefit from the low inventory of homes for sale and somewhat of a challenge for home buyers who face stiff competition. The lack of inventory of available listings has contributed to St Louis home sales this year falling a little behind last years home sales. 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 [xyz-ips snippet=”Market-Update-Video–Inline-Link”] update video. [xyz-ips snippet=”Market-Update-Video-Package”] [xyz-ips snippet=”Seller-Resources—Listing-Targeted”]
By Dennis Norman, on June 29th, 2018 The St Louis real estate market continues to be a strong one and continues to favor sellers in many cases. As the chart below illustrates, the median price per foot that homes sold for in May (green line) shot up in May to $133 from $129 the month before, a 3.1% increase from the month before and an increase of 6.4% from May 2017 when the price per foot was $125. This increase in home prices didn’t seem to affect St Louis home sales, however, as there were 2,922 homes sold in May, an increase of 24.3% from the month Continue Reading →
By Dennis Norman, on June 19th, 2018 Something that has become fairly common today in the St Louis real estate market are “MLS exempt” (or “non-MLS”) listings. Also known in the industry as “Pocket Listings“, this refers to a home that is listed with an agent but is not entered into the MLS. When I first enteered the real estate business, back in 1979, these type of listings were known as “Vest Pocket LIstings” with the reason being the agent would instead of turning the listing agreement into his or her office, making everyone aware of it, would keep the listing in their vest pocket so they Continue Reading →
By Dennis Norman, on June 10th, 2018 There is a lot of activity in the St Louis real estate market! The inventory of homes for sale in St Louis remains low, interest rates have dropped a little over the past couple of weeks, home prices are beginning to soften as we move beyond the peak spring market and demand is still strong.
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By Dennis Norman, on May 13th, 2018 The low inventory of homes for sale in many areas and price ranges throughout St Louis continues to plague the St Louis housing market and is causing home sales to run behind last years sales. 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. In our MORE, REALTORS, 5 Minute St Louis Real Estate Market Update video below, you can quickly and easily get the latest information on home prices, home sales, trends and more for the entire St Louis area!
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By Dennis Norman, on May 10th, 2018 Just over 1 of every three (34%) homebuyers in 2017 were first-time homebuyers according to the With the growing population of millennials reaching an age where many are buying homes, I expect to see the percentage of first-time homebuyers increase over the next couple of years.
Many first-time homebuyers find the home buying process to be a little intimidating which is largely due to just lacking the experience of having done it before and the knowledge that is gained from the experience. However, with a time spent getting educated on the process, the fears can be calmed and the home Continue Reading →
By Dennis Norman, on April 14th, 2018 A low inventory of homes for sale is making it tough on the St Louis real estate market with sales for the first quarter of this year lagging behind last year. St Louis home prices, on the other hand, continue to rise as do the number of “seller’s markets” in St Louis. In fact, as the video shows, the list of buyers markets in the St Louis area is short…in fact the shortest list I can remember. 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 Continue Reading →
By Dennis Norman, on March 15th, 2018 The real estate market in St Louis, after the first two months, continues to see good price appreciation with home sales on about the same pace as this time 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. In our MORE, REALTORS, 5 Minute“> St Louis Real Estate Market Update video below, you can quickly and easily get the latest information on home prices, home sales, trends and more for the entire St Louis area!
Sell Your Home Continue Reading →
By Dennis Norman, on February 27th, 2018 The real estate market in St Louis is off to a good start for 2018 so 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. In our MORE, REALTORS, 5 Minute St Louis Real Estate Market Update video below, you can quickly and easily get the latest information on home prices, home sales, trends and more for the entire St Louis area!
Sell Your Home For The Highest Price In The Least Amount of Time! See how- STLSellersAdvantage.com Save Continue Reading →
By Dennis Norman, on February 4th, 2018 Last year was a good year for the St Louis real estate market evidenced by increased home prices and sales in all counties in and around St Louis from the year before, with the lone exception being Franklin County which saw a decline in both home sales and prices from the year before.
As the table below illustrates, the St Louis MSA as a whole saw median home prices increase 2.99% in 2017 from the year before and home sales increase 4.14% during the same period. Date for the other counties is shown as well by clicking on the table.
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By Dennis Norman, on January 23rd, 2018 The St Louis real estate market closed out 2017 with an increase in both home sales and prices from the year before, both at a healthy and, hopefully, sustainable rates. 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. In our MORE, REALTORS, 5 Minute St Louis Real Estate Market Update video below, you can quickly and easily get the latest information on home prices, home sales, trends and more for the entire St Louis area!
Sell Your Home For Continue Reading →
By Dennis Norman, on December 14th, 2017 St Louis home sales are on pace to top last year! The inventory of homes for sale continues to be low and home price appreciation over the past year has been at at good, sustainable rate. 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. In our MORE, REALTORS, 5 Minute St Louis Real Estate Market Update video below, you can quickly and easily get the latest information on home prices, home sales, trends and more for the entire St Louis area!
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By Dennis Norman, on November 15th, 2017 Will home sales this year fall short of last years total? Have home prices risen too much in St Louis? Is there still a shortage of homes for sale in St Louis? Find the answers, data behind the answers, as well as complete, and up to date, home price and sales data for the entire St Louis market, in our just released market update video.
In our MORE, REALTORS, 5 Minute St Louis Real Estate Market Update video below, you can quickly and easily get the latest information on home prices, home sales, trends and more for the entire St Continue Reading →
By Dennis Norman, on November 8th, 2017 As we head into the holidays and winter months, the St Louis real estate market is slowing as is typical, however, it is still going fairly strong. Below are the 10 St Louis metro area cities where homes sold the quickest, based upon the days it too homes to sell that closed in the last 30 days. The time it took homes to sell has only dropped slightly since we last published this list in late August. In late August the number 1 city on the list took 11 days to sell and #10 on the list, 20 days. Today’s Continue Reading →
By Dennis Norman, on November 5th, 2017 The vacancy rate for rentals in St Louis during the third quarter of this year was 9.8%, significantly lower than the median vacancy rate of 11.5% for that quarter since 2004. The year to date median vacancy rate for 2017, through the first 3 quarters, is 8.1% which is tied with last years rate, the lowest in more than a decade. So it’s a good time to be a landlord in St Louis! (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 Rental Property For Sale In St Louis Search Multi-Family Properties for Continue Reading →
By Dennis Norman, on October 30th, 2017 Over the past couple of years, as the St Louis real estate market has continued performing well, mortgage delinquencies and foreclosures have continued to decline. Rising home value has also caused the number of “underwater” homeowners, also known as homeowners in a negative-equity position (meaning their mortgage balance exceeds their homes current value) to decline as well. As the table below shows, 5 of the seven St Louis area counties listed saw a decline in the number of underwater properties in the 3rd quarter of this year from a year ago. The largest decline in underwater properties was St Charles Continue Reading →
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