St. Louis Real Estate-Market Watch June 6th, 2009

Saint Louis Real Estate-Market Watch by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.
June 6th, 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 is getting HOTTER by the week! At least in all price ranges below $300,000. Both St. Louis County and St. Charles County are showing pending ratios of at or near 20 percent. When was the last time you saw 1 out of every 5 homes listed accepting contracts within 30-40 days??

In St. Louis County, the pending ratios at or near 20 percent could be seen back as far as January in some price ranges, but we didn’t see strong competition between buyers like we are seeing now.

St. Charles County also has experienced some of this awesome activity back as far as February but again, not the strong competition from buyers on a single home. This week, the lower price ranges in St. Charles County are seeing pending ratios at 28 percent to 40 percent.

The other item to note is that we have a bit of a seller’s market in St. Charles County in the $100,000 to $175,000 price range, with less than 4 months of inventory in those price ranges.

First Time Homebuyers are seeing December 1st approaching fast, as that’s when the $8000.00 tax credit is expiring.

Sales in some of the higher price ranges are also improving, as we are seeing pending ratios of 12 percent to 16 percent up to the $600,000 range in St. Louis County.

Buyers-when you find that home, don’t hesitate or think you can wait until the price drops so you can get a better bargain. If you’re in the lower price ranges, you better act quickly or you stand a chance of losing your dream home.

The one caviot here is that the home still must be priced within market value or a bit below and be in great condition. There are still a lot of over-priced homes out there.

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, June 7th, 2009 at 8:12 pm and is filed under St. Louis Market Reports, Uncategorized. 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.