St. Louis Real Estate-Market Watch May 16th, 2009

Saint Louis Real Estate-Market Watch by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.
May 16th, 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 still shows great buyer and seller activity. Our pending ratio is up to 16.8 percent, with more active listings coming on the market and more homes accepting contracts this week.

The price ranges that typically keep our local market moving; from $100,000 to $300,000 continue with the highest amount of activity, with pending ratios very near and above 20 percent. We see inventory in these price ranges at anywhere from 4.2 months to 6 months.

For buyers in these price ranges that still think there is a lot of inventory out there, beware. We are seeing homes that are priced correctly and in “show” condition are getting multiple offers, with buyers bidding against each other for these “prime” homes.

First Time Homebuyers-if you haven’t started looking yet, GET BUSY! Get with your lender for a pre-approval letter and start looking now, as the $8000.00 tax credit expires December 1st. With inventory as low as it is now, you don’t want to see somebody else get that home you’ve had your eye on.

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, May 17th, 2009 at 8:01 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.