St. Louis Real Estate-Market Watch Report October 20, 2007

St. Louis Real Estate Market Watch
October 20th, 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!

Our St. Louis Real Estate Market seems to have stabilized itself over the last several weeks. This week we are actually seeing the pending ratio increasing slightly again, with additional listings and additional homes accepting contracts. Even the average listing and selling prices are inching a bit higher. The movement isn’t anything to get excited about yet, but at least it’s in the positive direction. On the negative side, our days on market averages are remaining in triple digits and our average month’s of inventory still says we are definitely in a strong buyer’s market. In the price ranges that actually move the St. Louis Real Estate Market, we are seeing somewhere between 6–9.8 months of inventory. When our market is “balanced” here in St. Louis, we typically see 5–7 months of inventory. It tends to be the higher priced homes that are inflating our averages, with days on market over 125 and inventory as high as 24 months.

This week, the Jefferson County Market Watch Report shows fewer active listings, but a bit of an increase in the pending ratio, moving from 9.6% two weeks ago to 10.5% this week. The average listing and sales prices are also inching up a bit. The average month’s inventory for Jefferson County has increased from 10 months two weeks ago to 12 months this week. Sales seem to be slowing a bit, following the rest of St. Louis’ fall trend.

BUYERS AND SELLERS: We had a brief discussion with Eric West, one of our readers who also resides in the Midwest, and being in Real Estate, has developed a unique program to help buyers who have challenges qualifying for a mortgage and for sellers who are having challenges selling their home the traditional way.

If anyone is curious or would like to have more information, please send us an e-mail with your request, and we will put you in touch with Eric.

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 20, 2007

St. Louis Real Estate Jefferson County Market Watch October 20, 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: