St. Louis Real Estate

St. Louis Real Estate Market Watch
July 14th, 2007
The Anatomy of St. Louis Real Estate

The St. Louis Home for Sale Team provides a weekly St. Louis County Market Report to review and plug into your home buying or selling scenario. Your questions and comments are welcome!

This week, our listing numbers return to normal for the summer season, with an increase, however slight, in the total number of listings in St. Louis County. Average days on market are remaining fairly steady, but still 15%-20% longer (or more) than last year. Homes that are priced correctly, ie…today’s market value, staged to show properly and pushed out to all the web portals are attracting multiple offers. Our pending ratio covering all price ranges is again at 18%, which means that slightly less than 1 out of every 5 homes listed is actually closing.

The message here is to make sure that from the first day your home is on the market, it must be priced within market value, or slightly less, in order to insure attracting showings and offers.

It’s here - Along with our weekly St. Louis County Market Watch, we will also be providing the St. Charles County Market Watch. This is in response to numerous requests and actually, the St. Charles County market does act differently than the St. Louis County market, so it’s appropriate that we present both Market Watches.

Thinking of buying or selling a home? Contact Us for additional information tailored to your specific needs.

St. Louis Real Estate St. Louis County Market Watch July 14, 2007

St. Louis Real Estate St. Charles County Market Watch July 14, 2007

St. Louis Real Estate Benchmark Report July 2007

Also new this week – beginning this week we will be providing our report formatting information on all our reports, as it’s just too inconvenient to ask our followers to keep switching between articles if they need terms in the Market Watch reports explained, or need to know what our abbreviations stand for. Hopefully, this will make reading the Market Watches easier. Any comments or suggestions would be appreciated.

The report begins by breaking the market into 17 distinct price ranges. Then we show current listings and current pending listings which creates a pending ratio, which is helpful on a week to week basis to see if activity is increasing or decreasing in a price category.

The report also shows the last 6 months of results and compares the data to the same 6 months of the previous year.

The Market Analysis includes data on:

Number of Active Listings (Current)
Pending Sales (Going to closing)
Pending Ratio (Active vs.Pending)
Sold (Last 6 months)
Expired (Last 6 months)
Average List Price
Average Sale Price
Average List to Sales Price %
Days on Market (DOM)
Months worth of Inventory (Based on current pending rate)
Buyers Market: > 7 months of listing inventory

Transitional Market: 5 - 7 months of listing inventory (sometimes called a “balanced” market)

Seller Market: < 5 months of listing inventory

Average % Sale Price/List Price (0-30), (31-60), (61-90), (91-120), (120+)DOM

Notice that you’re paying a penalty for over pricing. . .hey. .it’s a fact!!

Tags: St.+Louis+Real+Estate, St.+Louis+Real+Estate+Market+Watch, St.+Louis+Real+Estate+Blog, MLS, Buyers, Sellers, FSBO, Relocation, First+Time+Home+Buyer, Real+Estate+Investors, For+Sale+by+Owner

This entry was posted on Sunday, July 15th, 2007 at 2:20 pm and is filed under First Time Home Buyer, For Buyers, For Sellers, Real Estate News, St. Louis Market Reports, Unrepresented Seller(FSBO). You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.