St. Louis Real Estate-Aug. 11, ‘07 You’ve Got to See This…

Filed under: Real Estate News, St. Louis Market Reports, Unrepresented Seller(FSBO), For Buyers, For Sellers, Relocation Buyer, First Time Home Buyer

St. Louis Real Estate Market Watch
August 11, 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! This week we are actually seeing triple digits for temperatures. The high temperatures haven’t stopped the real estate agents…OR the buyers and sellers in the market. Our numbers fluctuacted a bit up and down this week compared to last week, but nothing to indicate any additional slow-down of the market. On the other hand, there is nothing to indicate an up-turn either. Pretty much status quo for the week. In the past week, we saw our total listing numbers drop by only 2, and we saw many more homes than that sold this week. Sellers are still selling and buyers are still buying. One interesting point-after talking to sellers this week, the impression that has been expressed to me is that after Labor Day, the prime selling season is over. They couldn’t be more wrong. From Labor Day right through Thanksgiving is still a great time to sell a home. In some respects, maybe better, with milder weather and the fact that buyers seem to be more aggressive as the holidays approach. We’ll comment further on buying and selling during the holidays in future reports, SO…stay tuned.

The St. Charles County market is showing a bit of improvement this week with average pending ratios this week at 13.8% against last week’s pending ratio at 12.8%. Listings in St. Charles County decliined somewhat this week to 3108 from last week’s total of 3418. It looks like current inventory is getting sold. Check out the report to see all the numbers!

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 11, 2007

St. Louis Real Estate St. Charles County Market Watch August 11, 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 Sunday, August 12th, 2007 at 5:33 pm and is filed under First Time Home Buyer, For Buyers, For Sellers, 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.