St. Louis Real Estate-Market Watch February 21st, 2009

Saint Louis Real Estate-Market Watch by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.
February 21st, 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 continues to see active buyers in the market and a small increase in active listings, especially in the prices ranges at $350,000 and below. Our pending ratio has improved a bit as well, pushing just over 12 percent.

Our average days on market are still in triple digits, and we are showing 8.3 average months of inventory, which still says that it is definitely a buyer’s market. In the lower price ranges, our inventory levels are between 5.8 and 8.6 months, as the price ranges that move the market are continuing to better the average.

This should be a sign for sellers, and buyers sitting on the fence right now. Don’t wait till Spring to list your home or start looking for a home or you’ll be behind the curve. Plus, why wait till spring and have your home amidst the other thousands of listings that will be coming on the market.

Now that President Obama’s Stimulus package has been written into law, first time homebuyers have a bigger incentive to get out and buy. The First Time Home Buyer tax credit has been increased to $8000.00 PLUS it is now basically a grant; you don’t have to pay it back; UNLESS you live in your home less than three years.

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.

This entry was posted on Sunday, February 22nd, 2009 at 6:32 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.