Saint Louis Real Estate-Market Watch October 10th, 2009

Real Estate-Market Watch by Art Wagner @ Keller Williams Realty Southwest Saint Louis , Sunset Hills, Mo.
October 10th, 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 Saint Louis Real Estate Market this week continues with good activity as Fall is upon us. This is the time of year we start to see activity falling off a bit, but not so this year-so far.

Compared to this same week last year, we are seeing increased numbers of homes accepting contracts (pending) in all price ranges from $100,000 dollars up to $400,000 dollars. Our pending ratio this week sits at 16.51 percent with 4887 active listings and 807 homes accepting contracts. Last year, this time, we had a pending ratio of 10.85 percent with 5218 active listings and 566 homes accepting contracts.

This year we are seeing some higher price ranges with better activity than this same time last year. Homeowners who have sold to first time home buyers need to buy somewhere else, and a good number of them are buying bigger, higher priced homes.

The Legislature recently passed a bill allowing the First Time Home Buyer Tax Credit to be extended for another year for all Military Service Personal. The reasoning is that if you have been deployed, or are deployed now, you will still be able to take advantage of the tax credit when you come home. The Bill still needs approval by Congress and the President.

Extending the First Time Homebuyer Tax Credit for the rest of us is still being debated and no definite answers yet. We’ll keep you up to date as we get dangerously close to November 30th.

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 Monday, October 12th, 2009 at 12:25 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.