St. Louis Real Estate-A Great Time to Buy…

St. Louis Real Estate Market Watch 
August 25, 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’s St. Louis County and St. Charles County Market Watches look a lot like last week’s. There are small fluctuations in the numbers, but the over-all averages in all categories are fairly constant.  One note though; our average month’s inventory numbers are above 7 months of inventory.  This is due mostly to the higher priced homes primarily in the $600,000 and up ranges in St. Louis County and in the $500,000–$549,000 range and the $650,000 and up ranges in St. Charles County. The price ranges that typically move the St. Louis Market and the St. Charles Market are still mostly under 7 months of inventory.  Ignoring some of the higher-priced ranges, it appears that we are still in a balanced market, with some indication of trending toward a buyer’s market.   The difference this year over last year is the “days on market”, which is about 30 days longer than this same time last year.  To buyers, this may be a negotiating tool, and to sellers it should be motivation to price their home correctly at the beginning of the listing.

On another note. Thank you to all who are reading our blog, and finding this information useful.  Please do us a favor and take a minute to send us a comment, good or bad..or ugly. Let us know what you think and tell us what else you would like to see here. No promises, other than we will respond to your comments in some form.

 

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 25, 2007

St. Louis Real Estate St. Charles County Market Watch August 25, 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!!  

The Benchmark Report is produced monthly for:

• Single Family Residence
• Ranch Style
• 1300 - 2000 sq.ft.
• 3 Bedrooms
• 1.5 Bathrooms  

                     

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This entry was posted on Saturday, August 25th, 2007 at 1:29 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.