St. Louis Real Estate-Market Watch January 25th, 2008

St. Louis Real Estate Market Watch by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.
January 25^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 this week continues to show signs of improvement with increases in active listings and homes accepting contracts.  Our pending ratio has climbed to almost 12%.  That’s almost a 1% jump in one week.  In the lower price ranges that move our St. Louis market, we see pending ratios already over 12%.

We are also seeing in the last week or so, the average list prices are going up ever so slightly along with the average selling prices.  The comparison between the average list price to the average selling price over the last six months has remained above 97% in all price ranges.  Even homes that are on the market as long as 120 days are experiencing a list price to sales price percentage remaining above 95% in most price ranges.

OK, So what’s that mean???  That means, Mr. Buyer, that you can’t “steal” that home that’s been on the market for a while. 

Mr. Seller—The market is not as depressed as all the “News Hype” would have you believe. At least not here in St. Louis.  Yes, there are parts of the country that are having major challenges with pricing and attracting buyers, but NOT HERE!!

 

 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 25th, 2008

St. Louis Real Estate Jefferson  County Market Watch January 25th, 2008

St. Louis Real Estate St. Charles County Market Watch January 18, 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 25th, 2008 at 9:59 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.