St. Louis Real Estate-Market Watch November 10, 2007

St. Louis Real Estate Market Watch 
November 10th,  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! 

The St. Louis Real Estate Market this week has not made any significant moves from last week.  We are sitting on a “plateau” right now, perhaps waiting to see what will happen as we get closer to the holidays and perhaps waiting to see if the rate cut by the Fed will effect the market. 

There is still plenty of inventory in the market for buyers to look at, but they should also take note that sellers that are in the marketplace are pricing their homes competitively as evidenced by our average list to sales percentages.  Homes accepting offers within the first 30 days, are still in a 2–3% market.  Homes that are up to 60 days on the market are remaining in a 3–4% market.  So..buyers that are looking for a that “so called DEAL”  must look at homes that are on the market longer than 60 days, and in some price ranges 90 days plus.

Mr. Buyer, do you want to take the chance that you will miss the home of your dreams by waiting for long market times?  Buyers that are looking now are more motivated and are buying somewhat quicker than in previous months. 

Sellers—with the amount of inventory on the market your mission still has not changed.  To get your home sold in today’s market, for the most money, in the shortest period of time you MUST be NO. 1 in your price range. You should be priced within market value, or a bit below it, be in the best condition, with all the expected updated in your price range and have the home aggressively marketed by a real estate professional. 

 

 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 November 10, 2007

St. Louis Real Estate Jefferson  County Market Watch November 2nd, 2007

St. Louis Real Estate St. Charles County Market Watch November 10, 2007

St. Louis Real Estate Benchmark Report October 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, November 10th, 2007 at 10:27 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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