St. Louis Real Estate-Market Watch for August 4, 2007

St. Louis Real Estate Market Watch
August 4, 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!

St. Louis Real Estate in the Dog Days of summer! The heat is back again, and combined with last minute summer vacations for a lot of families, we see the listing and buying activity slowing slightly. Total listings were down from last week’s total of 6321 to 6228 this week. Our average pending ratio is down from 17.7% two weeks ago to 15.4% this week. WHY? Your answer is as good as ours; weather, vacations, over priced sellers, particular buyers, you name it. We hear from some prospective sellers that they prefer to wait until the market is better. Better than what?? From all our sources, we hear that this market will be with us well into next year. If sellers are waiting for 2003–2005 to reappear-NEWS FLASH– it’s not happening any time soon.

The St. Charles County market is slowing somewhat with average pending ratios this week at 12.8% against last week’s pending ratio at 14.4%. However, listings in St. Charles County have increased to 3418 opposed to last week’s total of 3081.

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 August 4, 2007

St. Louis Real Estate St. Charles County Market Watch August 4, 2007

St. Louis Real Estate Benchmark Report August 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!!

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