Saint Louis Real Estate-Market Watch July 5th, 2008

Saint Louis Real Estate Market Watch by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.
July 5^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 Saint Louis Real Estate Market this week seems to be slowing a bit with fewer active listings and fewer homes accepting contracts. Thus, our pending ratio has dropped to 14.47 percent.

This is the time of the year where we should be at our peak for listings and sales activity. As the summer progresses, it is usually the heat of the summer that tends to slow activity. This summer, with almost perfect weather so far, we see this slow-down fueled by (no pun intended) the increase in gas prices, interest rates adjusting upward a bit and more uncertainty in the econoomy.

Even with our slow-down and all the uncertainty and doom and gloom the news media insists on hammering us with, we still see our Saint Louis Market as fairly stable. We still are experiencing average listing prices of homes inching up slightly with average selling prices holding steady. Except for a few price ranges, we are still in that “Transitional” market. We see our average list to sales prices in most price ranges in a 1.5 percent to 4 percent range. Homes are still selling in a 96.8 percent to 98.5 percent range.

For some great information regarding the real estate market and a really cool home-value calculator, check out the report just released by the Office of Federal Housing Enterprise Oversight (OFHEO) at http://www.ofheo.gov/.

Thinking of buying or selling a home? Contact Us for a FREE Comparative Market Analysis and additional information tailored to your specific needs.

St. Louis Real Estate St. Louis County Market Watch July 5th, 2008

St. Louis Real Estate Jefferson County Market Watch June 21st, 2008

St. Louis Real Estate St. Charles County Market Watch July 5th, 2008

St. Louis Real Estate Benchmark Report June 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 Sunday, July 6th, 2008 at 8:37 am 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.