St. Louis Real Estate-Market Watch January 11th, 2008

St. Louis Real Estate Market Watch by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.
January 11^th, 2008
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 is finally starting to show some signs of picking up a bit. For the first time in the last four weeks, we are seeing an increase of active listings, an increase in the number of homes accepting contracts (pending) and a decrease in market rejected listings (expired listings). 

This is a sign that the holiday distractions are over, and buyers and sellers both are back to the business of buying and selling.  This is typically the after holiday trend that we see most every year, so we can’t get too excited yet.  Still, it’s great news for buyers and sellers alike to see activity increasing. 

We also see sellers that are entering the market or coming back on the market after the holidays are understanding the market better and pricing their homes realistically within market value.  They are understanding that the market we were in last year is going to continue well into this year, and quite possibly into 2009.  With the interest rates continuing to hover around 6%-6.5%, qualified buyers should find great value in the market.  

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 January 11th, 2008

St. Louis Real Estate Jefferson  County Market Watch January 11th, 2008

St. Louis Real Estate St. Charles County Market Watch January 4th, 2008

St. Louis Real Estate Benchmark Report December 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 Friday, January 11th, 2008 at 9:34 pm and is filed under St. Louis Market Reports. 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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