St. Louis Real Estate-Market Watch May 23rd, 2009

Saint Louis Real Estate-Market Watch by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.
May 23rd, 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 spotlights the St. Charles County Market Watch report.

If you thought homes were “flying off the shelf” in St. Louis County, check out the St. Charles Market Watch Report! In the price ranges of $100,000 to $200,000, pending ratios are above 25 percent, and look at the $100,000 to $124,999 range–53.4 percent. What’s happening??

These price ranges typically move the St. Charles market, just like they do in St. Louis County, however, these price ranges are also being call “First-Time Homebuyer” price ranges this year. Anybody who thinks that the $8000.00 First Time Homebuyer tax credit isn’t working needs to have these statistics shoved in their face.

Now, look at the months of inventory in these price ranges, or our absorption rate, as some realtors call it. Looks like we have a small seller’s market within our larger buyers market.

Whoa! Hold on Mr. Seller-just because these price ranges are moving quickly doesn’t mean you can get crazy with pricing or not have your home in “show condition”.

Buyers, and especially a lot of First Time Homebuyers where husband and wife are working their tails off the afford a home are still looking for homes in as close to perfect condition as they can find. With both spouses working, they do not have time to work on a house too.

The home also MUST be priced within market value, as buyers are much more aware of the market and the values in it. Real Estate agents, also are better informed and price savvy than they have ever been. Thanks be to the Internet, Realtor Web Sites, and Web Sites like this one, where current market information is readily available to anyone that knows where to look.

Since we see most First Time Homebuyers working with Real Estate Agents, aggressive sellers still won’t be able to sell their homes if they are priced above market value.

HAPPY MEMORIAL DAY WEEKEND….

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 24th, 2009 at 5:53 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.