St. Louis Real Estate–Market Watch for July 21st, 2007

St. Louis Real Estate Market Watch
July 21st, 2007
The Anatomy of St. Louis Real Estate

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

This week, again we saw a very slight increase in the number of new listings hitting the market. As we get closer to the dog days of summer, and the beginining of the new school year, activity slows somewhat. Those buyers willing to brave the heat of the summer are sure to find some good buys out there still.

Price, Condition and Marketing are still and always will be what sells a home. The key today seems to be that you MUST hit all three right on the mark from the beginning of the selling adventure, or you stand a good chance of missing the boat completely.

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 21, 2007

St. Louis Real Estate St. Charles CountyMarket Watch July 21, 2007

St. Louis Real Estate Benchmark Report July 2007

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)1
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 Saturday, July 21st, 2007 at 8:44 pm and is filed under First Time Home Buyer, For Buyers, For Sellers, Real Estate News, Relocation Buyer, 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.