St. Louis Real Estate-Market Watch November 17, 2007

St. Louis Real Estate Market Watch
November 17th, 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!

Thinking of buying or selling a home? Contact Us for additional information tailored to your specific needs.

The St. Louis Real Estate Market this week has shown a small improvement from the last couple of weeks. We are seeing positive signs with the pending ratio inching up closer to 12% as more homes are accepting contracts AND selling a bit closer to listing price at 97.7%. Much of this is due to less inventory on the market and buyers having fewer choices. This week, active listings have dropped by almost 200 and there is still an ever increasing number of “market rejected listings” choosing to stay off the market.

As we get closer to the end of the year, buyers that need to buy are realizing that it’s time to act if they want to be in a home before the end of the year.

The Sellers that we talk to also realize that the end of the year is approaching and are either adjusting their prices or making other concessions or needed improvements to try to attract the buyers that are in the marketplace. In this market, or any market for that matter, it’s all about being no. 1 and the “Best House on The Block.”

St. Louis Real Estate St. Louis County Market Watch November 17th, 2007

St. Louis Real Estate Jefferson County Market Watch November 17th, 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: