St. Louis Real Estate-Market Watch for September 1st, 2007

St. Louis Real Estate Market Watch 
September 1^st,  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! 

Holy Cow!! September is already here, and St. Louis Real Estate seems to be slowing a bit again.  Across the board, we see 100+ less listings, a pending ratio under 13% and the last six months’ average list price and sales price dropping.  This is the time of the year, when school is in full force and “summer sellers” get discouraged, that we see our market “cool off” a bit. This week we also see 100+ more listings getting rejected by the market (expired listings).  Sellers that have been on the market all summer are getting frustrated, and considering taking their homes off the maket “for a while.”  For those still on the market, STAY THERE; as listings come off the market, you have less competition AND the buyer pool has not declined much yet.  Also, we are seeing that buyers that are out there seem to be more motivated than earlier in the summer.  Our average “days on market” remain the same, and still about 40 days over our average from last year at this time.  We can’t stress strongly enough how vitally important it is to price your home competitively from the start if you are truely motivated as a seller.  Buyers, take note; there is still plenty of inventory out there and fair value for the dollar.  This is a great time to buy. Just don’t be looking for that pristine, updated, all-the-bells-and-whistles home at a “fire-sale” price. IT’S NOT HAPPENING!

 

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 September 1st, 2007

St. Louis Real Estate St. Charles County Market Watch September 1st, 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!!  

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, September 1st, 2007 at 10:35 am 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.

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