St. Louis Real Estate-Steady As She Goes..

St. Louis Real Estate Market Watch
October 13th, 2007
The Anatomy of St. Louis Real Estate

The St. Louis Home for Sale Team provides a weekly St. Louis County and Bi-weekly St. Charles County Market and Jefferson County Market Watch Report to review and plug into your home buying or selling scenario. Your questions and comments are welcome!

Over the last several weeks our St. Louis County Real Estate Market has seemed to stabilize a bit, with our total listing numbers still hovering above the 6000 mark and the pending ratio is remaining around 11.5%. This week our listing numbers have actually inched upward over last week and the “market rejected” listings (expired’s) have increased by about the same amount. If you look closely, our average list price has inched up slightly in the last month along with the average selling price. Not very exciting, except that here’s proof again that we are a fairly stable market, unlike the other parts of the country that you see, read and hear about through the media.

St. Charles County Real Estate Market Watch will continue to be published on a bi-weekly basis, alternating with the Jefferson County Market Watch report.

Thanks to our friend, Christian, in St. Charles, who is in the home selling process and has been using our St. Charles Market Watch to keep an eye on the market. Christian has been following us for some time now, and e-mailed us regarding the elimination of the St. Charles Market Watch. So…for Christian and the other St. Charles comments we received, we will continue to run the report bi-weekly.

The St. Charles County Real Estate Market seems to be following somewhat the same trends as St. Louis County. The number of listings and homes with accepted contracts (pending) is holding fairly steady, even though we saw the pending ratio drop to 10.6% this week. This is the first time in a couple of months that the pending ratio has been below 11.0%. The average listing and sales prices are also remaining fairly steady.

Remember the Trivia question from last week?? What does the City of St. Louis have in common with Washington D.C. ?

Answer: St. Louis City and Washington D.C. are the only two cities in the country that are not located within a county, or Township, or Parish. (depending upon where you live.)

Interested in new home sales? Check out these statistics here..New Home Stats

Check This Out– By Jeannine Aversa, AP Economics Writer– New Home Sales

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 October 13, 2007

St. Louis Real Estate Jefferson County Market Watch October 6th, 2007

St. Louis Real Estate St. Charles County Market Watch October 13, 2007

St. Louis Real Estate Benchmark Report September 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

This entry was posted on Saturday, October 13th, 2007 at 9:33 am and is filed under First Time Home Buyer, For Buyers, For Sellers, 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.

One Comment »

Eric West said:

I am in the other markets you refer to, specifically Mid-Michigan, and the stories you read about might actually be mild compared to the actual conditions in some of these areas.

Being a Real Estate professional in your market sounds like a dream for those here. Last check, in Genesee county, we had roughly a year (or slightly more depending you you ask) of inventory on the market and over 20% loss in value or more in the city. Of course we have our pockets where there is slight appreciation but those are in high end neighborhoods in cities such as Grand Blanc.

I was just checking in because I am an investor that buys homes throughout the US. I am always interested in learning about new markets and this blog caught my attention. Thanks for the useful information

Eric West
http://allstatehousing.blogspot.com

# 13 October 2007 at 1:46 pm