St. Louis Real Estate-Market Watch November 24, 2007

St. Louis Real Estate Market Watch 
November 24th,  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 is GOOD NEWS, at least for the buyers and sellers that are still out there.  Our pending ratio has seen an increase of almost 1.5%, which means that more homes have accepted offers in the last 30–40 days.  This is happening with less active listings and more “market rejected listings” (expired’s) staying off the market.  A very small decrease in buyer activity and less inventory gives buyers less choices.  It’s easier to make a decision when you don’t have as many choices. 

The St. Charles Real Estate Market is also seeing less active listings with a few more “market rejected listings” staying off the market.  However, the St. Charles’ Market’s pending ratios are hanging in around a four week average of 10.2%. 

Sellers—stick with it!! Homes do sell over the Holiday season.  This is also a great time to STAGE your home on the OUTSIDE too.  Decorate for the holidays, even if you are not occupying the home.  Buyers love to see what their new home looks like decorated for holidays. CURB APPEAL!!

Buyers—You still have plenty to see in the St. Louis Real Estate Market.  What could be a better Holiday gift than a new home.  BUY NOW and you’ll stand a good chance of being settled in your new home for the holidays.  

 

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 24, 2007

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

St. Louis Real Estate St. Charles County Market Watch November 24, 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 24th, 2007 at 11:17 am and is filed under Real Estate News. 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.