St. Louis Real Estate-Market Watch March 14th, 2009

Saint Louis Real Estate-Market Watch by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.
March 14th, 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 is gearing up for spring. We see 235 more listings hitting the market and almost 5% more homes accepting contracts than last week. Our pending ratio is still hovering around 13 percent. Pending ratios in the market moving price ranges, from $100,000-$2250,000 are well above 13 percent. The new $8000.00 first time homebuyer tax credit has helped spur buyer activity quite nicely.

For those first time homebuyers that weren’t aware of it, that $8000.00 first time homebuyer tax credit expires December 1st, 2009. So…get out there and buy your home!!

Our total inventory is still very much a buyer’s market at 7.8 months, however in the lower price ranges, we are at the lower end of that buyer’s market with anywhere from 5 months to 7 months of inventory.

Sellers-Homes on the market 60 days or less are still selling for 91 to 98 percent of list price. Don’t let it sit much longer than that, as sales price to list price percentages drop significantly after 60 days. Make sure your home is priced within market value, and is in “show-room” condition. Most buyers these days either don’t know which end of a screwdriver to pick up or they just don’t have the time to buy a home and make improvements right away. There is still plenty of inventory to choose from; don’t let your house sell all the other homes in the area.

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, March 15th, 2009 at 7:00 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.