St. Louis Real Estate-Market Watch August 22, 2009

Saint Louis Real Estate-Market Watch by Art Wagner @ Keller Williams Realty Southwest, Sunset Hills, Mo.
August 22nd, 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 has not showed any signs of slowing down. August usually slows a bit due to hot weather and the beginning of a new school year. This year, we have not seen a typical St. Louis August, or for that matter, we haven’t seen a typical St. Louis summer this year. Our summer weather this year is more reminiscent of Wisconsin, Michigan or even Minnesota summers.

This is great house-hunting weather and has definitely contributed to our real estate activity. First Time Homebuyers have also done more than their part to help keep activity high.

We should take note, though, that this activity by no means is a sign of great recovery for real estate. Our local pricing and days on market have still remained fairly stable for the last eighteen to twenty four months, compared to most other parts of the country.

Every source we talk to, listen to and read have all forecast another 12 months or more before we see any noticable improvement. The only way we are going to see any improvement in our real estate market is for employment to improve throughout the country and here locally too.

People without jobs don’t have money and people without money don’t buy real estate, let alone anything else. And we are far from being out of the woods with foreclosures and other distressed property sales.

RisMedia.com has a great article posted regarding the foreclosure situation across the country. The article talks about California and Florida as examples, but also gives some alarming country-wide statistics. Read the article HERE.

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.

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This entry was posted on Sunday, August 23rd, 2009 at 11:33 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.