St. Louis Real Estate-Buck the Trend-Buy a House!

St. Louis Real Estate Market Watch
September 22th, 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’s annual Fall trends are proving themselves accurate again this year. We are seeing the pending ratios (homes with accepted contracts) in almost every price range dropping again. This week there are actually a few more homes on the market, but with the buyer pool shrinking slightly, we are only seeing 1 in 8 homes with accepted contracts. The number of homes that are being rejected by the market (expired) has increased again this week. Our average days on market are remaining constant at 106 days, and with an average of 8.9 months of inventory, we are still definitely in a buyers market.

The St. Charles market seems to be following St. Louis’ example with pending ratios dropping and increases in the number of homes rejected by the market. In St. Charles County, however, the number of homes on the market has declined a bit also. From the months of inventory in almost all price ranges in St. Charles County, they will be in a buyers market for quite some time.

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 22, 2007

St. Louis Real Estate St. Charles County Market Watch September 22, 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

Art Wagner can be reached at art@stlouisrealestatevoice.com

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This entry was posted on Saturday, September 22nd, 2007 at 3:24 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.