St. Louis Real Estate – Market Watch February 22, 2008

St. Louis Real Estate Market Watch by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.
February 22nd, 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!

Our St. Louis Real Estate Market moves forward with increased activity spurred by the latest interest rate activity and the anticipation of Spring. Check out our current Market Watch Reports below for the current details.

More news on the St. Louis Real Estate front comes this week from and article published by Inman News entitled, “Q4 home prices fall in 76% of U.S. zip codes tracked.”

According to the article, a mortgage data aggregator, First American CoreLogic tracked 7,472 zip codes in the U.S. and found that in 76% of them home prices have dropped. They also stated that “just over half the zip codes in the U.S. saw price declines for the year, with trends varying widely by state.”

Their report, the “LoanPerformance Home Price Index” saw 30 of the top 34 markets tracked by the Index showed price declines. “All but 10 of those markets saw year-over-year price declines.”

The St. Louis-Ill. Real Estate Market showed a fourth quarter price drop of 6.52% and a year over year price drop of 3.98%.

3.98% as a year over year price drop is one of the smallest price drops reported in the article. SO…our market may be a bit slower than a year ago, and prices may be a bit deflated, but we are in a lot better shape than a lot of the markets in the country.

Read the complete article and check out the other markets surveyed at Inman News.

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 February 22, 2008

St. Louis Real Estate Jefferson CountyMarket Watch February 22, 2008

St. Louis Real Estate St. Charles County Market Watch February 15th, 2008

St. Louis Real Estate Benchmark Report January 2008

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, February 23rd, 2008 at 9:19 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.

One Comment »

Chad Randall said:

Your write-ups are so routinely biased to the bullish side of the equation. You choose to focus on the year over year and ignore the 4th quarter number. Clearly, Saint Louis is just beginning to break down as the 4th Quarter in Saint Louis is among some of the worst cities. I have been watching listings routinely slash prices over the last month. This should not be taken lightly. Of course, when your trying to sell houses…obviously your information will be biased. I wish everyone knew that real estate agents are basically a worthless source of information. I know you can’t help yourself…buyers just need to be informed how real the conflict of interest is with regards to agents.

# 26 February 2008 at 9:39 pm