St. Louis Real Estate-Market Watch December 8th, 2007

St. Louis Real Estate Market Watch
December 8th, 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 continues to show typical seasonal trends of slowing with an increase of expired listings staying off the market, and a big drop in active listings. The good news is that our pending ratio is holding between 12–13%. This is a good indicator that the homes that are still on the market are attracting offers and accepting contracts.

The other good news is that if you are loan shopping now, you have an opportunity to get a fixed 30 year mortgage below 6%, if you qualify. Check out our Mortgage Guru Chriss Scheer’s latest articles posted in our blog for his evaluation of the current mortgage industry situations.

Also, President Bush this week rolled out his plan to help the sub-prime market problems. For an in-depth description and explaination of the program, see this article,”Who the Subprime Mortgage Plan Will Help” courtesy of RIS Media. This plan seems to be a step in the right direction, although it will probably only help 1.2 million people in the subprime market, as it targets borrowers who are relatively current on their mortgages.

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 December 8th, 2007

St. Louis Real Estate Jefferson County Market Watch December 1st, 2007

St. Louis Real Estate St. Charles County Market Watch December 8th, 2007

St. Louis Real Estate Benchmark Report November 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: