St. Louis Real Estate-Market Watch February 7th, 2009

Saint Louis Real Estate-Market Watch by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.
February 7th, 2009
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 shows a bit of an increase in activity, with an increase in active listings and a small increase in homes accepting contracts. Our pending ratio is remaining fairly stable at 11.11 percent.

The price ranges from $100,000 up to $300,000, which are the price ranges that continually keep our St. Louis Market moving are still doing their part. Pending ratios in these ranges, for the most part, are well above the average.

I’m sure everyone has heard by now that the National Pending Home Sales Index ROSE 6.3 percent based on contracts written in December. The better news is that in the Midwest, the index actually increased 12.8 percent; almost twice the National average. The concensus is that these increases have been spurred by buyers reacting to lower home prices and lower mortgage interest rates. We will be getting the January figures about February 25th; we’ll see if we sustained that increase in January.

We still have a long way to go before we say that our “housing slump” is over, but it’s great to hear some good news for a change. And you can take that to the bank!!

Speaking of banks, those buyers out there looking for those “super low” interest rates should read Aprille Trupiano’s article about those “below 5 percent” rates that a lot of lenders are advertising now. They may not be as attractive as they first appear to be.

REAL ESTATE AGENTS AND FOR SALE BY OWNERS- Are your listings and / or home sitting on the market too long?? 120 days or more?? We have a program designed to get your listing or FSBO home sold. Real Estate Agents get paid their commission in full. Contact us for more info.

WHO DO YOU KNOW NOW that is challenged with their mortgage payments OR needs to sell for less than their home is worth?? WE CAN HELP!!

WHO DO YOU KNOW that’s 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.

Fill out the form below to view the Market Report.

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