St. Louis Real Estate-Market Watch September 20th, 2008

Saint Louis Real Estate Market Watch by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.
September 20th, 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 our September trends with a few less active listings. Buyer activity remains steady, as homes are accepting contracts and our pending ratio is holding above 12 percent so far.

The price ranges that tend to keep our market moving; $100,000 through $300,000, are exhibiting pending ratios still at and well above our average pending ratio.

St. Charles County is an area where this is very noticable as homes over the $300,000 price range have come to a crawl. The average pending ratio in St. Charles County this week is 12.4 percent, driven by the very active price ranges that move the St. Charles area. In the $100,000 through $300,000 ranges, pending ratios are as high as 38 percent.

If you have a home in St. Charles County listed at $600,000 and above, you had better be ready for some long days on market, as very few homes in these price ranges have accepted contracts in the last 30–40 days.

ARE YOU thinking of buying or selling a home? Contact Doug Aegerter or Art Wagner for more information and a FREE Comparative Market Analysis (CMA) of your home or your neighborhood.

St. Louis Real Estate St. Louis County Market Watch September 20th, 2008

St. Louis Real Estate Jefferson County Market Watch September 20th, 2008

St. Louis Real Estate St. Charles County Market Watch September 13, 2008

St. Louis Real Estate Benchmark Report August 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 (Closed transactions last 6 months)
Expired (Last 6 months)
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, September 21st, 2008 at 8:54 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.