St Louis home sales and prices continue to trend favorably throughout the area. The inventory of homes for sale in the St Louis area has increased over the past month but that is expected given the seasonal slow down in home sales. Even though we are headed toward winter and the slower home selling season it brings, if you live in St Charles County or one of the other areas where the supply of homes for sale is low, you may want to strongly consider going on the market now to take advantage of what is still steady demand with little competition. Continue Reading →
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On October 10th (well, technically October 11th since the final vote was not taken until reportedly 1:00 am) the city of Florissant dealt it’s latest blow to landlords and tenants clearly, in my humble opinion, sending a message that they (Florissant) want neither within their city limits. Continue Reading → Last month the median price of homes sold in the St Louis MSA was a very-affordable $169,000 however, during past 12 months, homes have sold for as much as over 50 times that amount in St Louis. That’s right, during the past year there was a home that sold for $9,000,000 in St Louis, over 53 times the median St Louis home price. The $9,000,000 St Louis home that was sold was at 2105 South Warson and sold in November of last year for $9,000,000. The next highest home sale was a $4,000,000 one at 760 Kent Road, followed by 2 more Ladue homes. In all, 13 of the 31 homes that sold in St Louis for more than $2,000,000 (based upon MLS data) were in Ladue, 7 were in Clayton (3 of those being condo’s), 3 in Town & Country, 2 in Huntleigh, 2 in Chesterfield, 2 in Creve Coeur and 2 in the Central West End (both were condos at the Private Residences in Chase Park Plaza). Continue Reading → The inventory of homes for sale is creeping up, but still low! In this month’s video you will see that the St Louis real estate market remains strong as we close out the summer selling season and head into fall. The inventory of homes for sale has risen slightly, which is to be expected this time of year, but, overall, the market still favors sellers. Continue Reading → The St Louis real estate market is still going strong! As the video below illustrates, the St Louis real estate market continues to do well as we head into the end of summer. The inventory of homes for sale remains low in most areas, which is good news for seller who face less competition and pricing pressure often resulting in multiple offers and quick sales. From a home buyers perspective it may not be as fun as buyers find themselves often competing and frequently losing out to other buyers that either got their first or offered more. Let your heart Continue Reading → After the housing bubble burst in 2008 we saw several years of declining home prices before home prices finally reached bottom in late 2011 and early 2012. Due to the tremendous growth in foreclosure activity, as well as artificially inflated home prices as a result of sub-prime lending, many of St Louis’ lowest priced neighborhoods were hit the hardest. So, now that we have seen a solid real estate market in St Louis for a couple of years, and prices are recovering, how have home prices in these hard hit zips recovered? To determine this I have assembled the data Continue Reading → There were 4,935 foreclosure filings on homes in the St Louis metro area during the first six months of 2016, a decline of 27.1% from the second half of 2015 when there were 6,770 foreclosure filings and down 9.75% from the first half of 2015 when there were 5,468 filings, according to a report just released by RealtyTrac. Continue Reading → The inventory of homes for sale in St Louis remains low making it a great time to be a home seller! Home sales and prices are up in the St Louis area although we are beginning to see home prices rescind slightly as we near the end of the summer market and prices historically soften a little. Continue Reading → One of the many benefits to living in the St Louis area has long been the affordability of good homes in nice neighborhoods, but that has even gotten better in the past year in three of the 5 major counties that make up the St Louis market. As the table below shows, in Franklin County, due to lower home prices as well as interest rates, home affordability increased by 9 percent from May 2015 to May 2016. Continue Reading → There have been 10,070 Homes sold in St Louis this year so far (through May 31, 2016), in the 5-county core St Louis market, an increase of 8.7 percent from the same time last year when there were 9,261 homes sold. As the table below shows, this years home sales is outpacing the prior 4 years thus far. The core St Louis market is comprised of the city of St Louis as well as the counties of St Louis, St Charles, Jefferson and Franklin. Pending home sales up as well but could show slowing trend… At the chart below illustrates, Continue Reading → Home sales continue at a brisk pace and the inventory of homes for sale remains low in all five counties that make up the core St Louis market with St Charles county having the lowest inventory with just a 1.9 month supply of homes for sale. Continue Reading → If you want to buy a home today you have to be quick, especially in some neighborhoods where the demand is so high and inventory so low that many of the homes sell within a day or two of hitting the market. There are many ways to determine what are the hot neighborhoods in St Louis, but for the purposes of this article, I’m going to look at the average days on market of active listings to determine which cities in the St Louis where homes are selling the fastest. Continue Reading → This legislative session, the Missouri State Legislature passed HB. 1862, which modifies provisions relating to the existing landlord-tenant law in Missouri, specifically, it repeals sections 534.350, 534.360, 535.030, 535.110, 535.160 and 535.300 of the Revised Statutes of Missouri and replaces them with five new sections as described in the bill. Continue Reading → There are a variety of down payment assistance providers in the St Louis area where a qualifying home buyer can obtain assistance with their downpayment to buy a home. According to a report just released today by RealtyTrac, the average amount of down payment assistance covers the typical down payment on a median priced home in 4 out of five of the St Louis Counties that make up the core market, with St Charles County being the only exception. As the table below shows, in St Charles County the average down payment assistance of $5,000 falls short of the typical downpayment on a median priced home of $6,150 but still covers most of it. In the other 4 counties the down payment is more than covered. Continue Reading → Home flipping accounted for 8.1 percent of all the home sales in the St Louis MSA during the 1st quarter of this year according to a report released today by RealtyTrac. This is up 20 percent from the prior quarter however is a decline from the first quarter of 2015 when flipped homes accounted for 8.3% of all the homes sold. Continue Reading → The National Association of REALTORS®, Case-Shiller and a host of other organizations report home sales prices on a monthly basis (as do we) usually with comparisons of the current months’s pricing to the month before as well as the same month in the prior year. While this is a very good way of spotting trends as well as a leading indicator to show what the near term future may hold in store, this is not necessarily the best data to base the annual change of home prices on. Continue Reading → There were 2,290 St Louis Existing Homes Sold in April (in the 5-county core market), an increase of 1.0 percent from April 2015 when there were 2,265 homes sold. The median home price of homes in the St Louis 5-county core market (city of St Louis and counties of St Louis, St Charles, Franklin and Jefferson) during April 2016 was $173,850, an increase of 4.4 percent from April 2015 when the median price of existing homes sold was $166,500. For the combined markets of the City of St Louis and the County of St Louis, there were 1,241 existing single Continue Reading → The current home price trend is down in each of the 5 core counties this month, but home sales are still robust in most St Louis markets and the inventory of homes for sale remains low. Want to know more? If so, then check out our just-released, 5-minute, video market update below which will go into more detail and give you a quick overview of St Louis home prices, where the sellers markets are, the buyers markets and much more! If you are considering buying or selling a home, or are an investor or just a homeowner wanting to keep Continue Reading → It’s hard to drive through a neighborhood today and not see a “coming soon” rider on a for sale sign in front of a house. With the St Louis real estate market still favoring sellers in many markets due to a low supply of homes for sale, it’s not surprising that coming soon listings create somewhat of a fervor among would-be buyers and their agents. Continue Reading → The number of months of supply of homes for sale in St Louis has increased in each of the 5 core counties, since last month, but the St Louis real estate market is still going strong! Want to know more? If so, then check out our just-released, 5-minute, video market update below which will go into more detail and give you a quick overview of St Louis home prices, where the sellers markets are, the buyers markets and much more! If you are considering buying or selling a home, or are an investor or just a homeowner wanting to keep up Continue Reading → Today may be the first day of spring, but the St Louis spring real estate market has been here for a while already! Spring is always brings a better real estate market and this year, thanks no doubt partially to the mild winter we had here in St Louis, the spring market arrived early! Homes that are priced appropriately for the market, and in areas and price ranges of moderate demand, are selling fast! Continue Reading → The St Louis real estate market is off to a good start for 2016 but that doesn’t mean there aren’t St Louis neighborhoods that are experiencing a buyer’s market giving home buyers an advantage over sellers, at least to an extent. Continue Reading → For those that have been reading my articles for a while, you know I am not a Pollyanna when it comes to the real estate market, opting instead to tell it like it is, even when the news is not so encouraging. For that reason, as well as the data behind my opinion, I think my suggestion that now is a good time to buy a home in St Louis should be considered to be a credible opinion from an industry insider. Continue Reading → The St Louis real estate market performed well in January and 2016 is off to a good start! Want to know more? If so, then check out our just-released, 5-minute, video market update below which will go into more detail and give you a quick overview of St Louis home prices, where the sellers markets are, the buyers markets and much more! If you are considering buying or selling a home, or are an investor or just a homeowner wanting to keep up on the market, you don’t want to miss this! Continue Reading → The St Louis real estate market is off to a good start for 2016 with non-distressed home sales during January increasing 30 percent from a year ago. In the St Louis five-county core market, there were nearly 1,700 total homes sold (1,697) during January 2015, up 19.3% from January 2015 where there were 1,423 total sales. Non-distressed sales (private sales only, no foreclosures, REO’s, etc) accounted for 1,430 of the home sales during January 2015, an increase of 30% from January 2015 when there were 1,101 homes sold. Continue Reading → The St Louis real estate and housing market saw a good year last year but, as we are frequently reminded, real estate is very “local” and prices, as well as market conditions, can vary widely even between cities or towns just a mile or two apart. This is clearly illustrated when I look at a report our company produces, based upon home sales data, obtained directly from the St Louis REALTOR® MLS, that shows the median price per foot for homes sold (or currently for sale) throughout the St Louis area. I like price per square foot data as I believe that is one of the more accurate ways of seeing trends in home prices. We compile this data and publish it live, and real-time, online, for each city in St Louis as well as zip code. Continue Reading → Last year was a pretty good year for the St Louis real estate market with many areas of St Louis seeing an increase in the number of homes sold from the prior year and most of the St Louis area seeing home price appreciation. Many neighborhoods in St Louis saw some new record high home prices so I thought I would take a look at some popular St Louis neighborhoods and the most expensive homes sold in them during 2015. Continue Reading → The St Louis real estate market performed well in 2015 and, by all indications, 2016 should be an even better year for the St Louis real estate market! Continue Reading → During 2015, a total of 10,391 housing units, or 1 out of 118 units, in the St Louis MSA had a foreclosure filing, according to a report just released by RealtyTrac. This is an increase of 38.29% in foreclosure activity from 2014. Continue Reading → As 2015 comes to an end and we welcome everything 2016 has in store for us, we say goodbye to one of the better real estate markets St Louis has seen in a while but eagerly await what, by most indications, appears to be an even better year for St Louis real estate, 2016! Continue Reading → |
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