St. Louis Real Estate-2008 Begins NOW!

Filed under: First Time Home Buyer, For Buyers, For Sellers, Real Estate News, Relocation Buyer, St. Louis Market Reports, Unrepresented Seller(FSBO)

St. Louis Real Estate Market Watch
January 4^th, 2008
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 continuing it’s winter trend of slowing with active listings under 4500, market rejected listings reaching over 4700 and the pending ratio falling again to 11.22%. However, the segment of the market in the $125,000 to $250,000 price range are maintaining pending ratios well above the average. These price ranges also tend to have the bulk of the inventory on the market at this time, as these are the price ranges that tend to keep the St. Louis market moving. There are a few of the higher price ranges that are also experiencing higher than average pending ratios.

We have seen in the last couple of weeks some good buyer activity in the market; we think it is because of unusually good weather, except for one snow day and two days of below freezing temperatures. Also, the roller-coaster ride that interest rates have been on has probably spurred some buyers to lock into a rate and buy now, as opposed to waiting.

Sellers-don’t get discouraged now– stay on the market while some of your competition waits on the sidelines. We still hear from frustrated sellers that they want to wait until the market improves. We tell them that if they are willing and able to wait possibly until 2009, go ahead. We still see all predictions for our real estate market to remain at the levels it is now, with possibly a very small increase in sales volume and home prices. If sellers are waiting for an “improvement” to 2003–05 conditions, it’s not happening anytime soon.

Those sellers waiting for spring will undoubtedly see more buyers in the marketplace, ALONG with an increase in competition (inventory). I guess that’s OK because when spring comes, the home will be priced a bit below market value, it will be in absolute show-room condition and it will be marketed with an unlimited budget. When spring comes, that’s what it will take. We’ll see.

Thinking of buying or selling a home? Contact Us for additional information tailored to your specific needs.

St. Louis Real Estate St. Louis County Market Watch January 4th, 2008

St. Louis Real Estate Jefferson County Market Watch December 29th, 2007

St. Louis Real Estate St. Charles County Market Watch January 4th, 2008

St. Louis Real Estate Benchmark Report December 2007

The report begins by breaking the market into 17 distinct price ranges. Then we show current listings and current pending listings which creates a pending ratio, which is helpful on a week to week basis to see if activity is increasing or decreasing in a price category.

The report also shows the last 6 months of results and compares the data to the same 6 months of the previous year.

The Market Analysis includes data on:

Number of Active Listings (Current)
Pending Sales (Going to closing)
Pending Ratio (Active vs.Pending)
Sold (Last 6 months)
Expired (Last 6 months)1
Average List Price
Average Sale Price
Average List to Sales Price %
Days on Market (DOM)
Months worth of Inventory (Based on current pending rate)
Buyers Market: > 7 months of listing inventory

Transitional Market: 5 - 7 months of listing inventory (sometimes called a “balanced” market)

Seller Market: < 5 months of listing inventory

Average % Sale Price/List Price (0-30), (31-60), (61-90), (91-120), (120+)DOM

Notice that you’re paying a penalty for over pricing. . .hey. .it’s a fact!!

The Benchmark Report is produced monthly for:

• Single Family Residence
• Ranch Style
• 1300 - 2000 sq.ft.
• 3 Bedrooms
• 1.5 Bathrooms

Art Wagner can be reached at art@stlouisrealestatevoice.com

Posted by Art Wagner   |   Read More   |   Your Comments Are Welcome!   |   01.05.2008

St. Louis Real Estate-Happy New Year!

Filed under: First Time Home Buyer, For Buyers, For Sellers, Mortgage News, Real Estate News, Relocation Buyer, St. Louis Market Reports, Unrepresented Seller(FSBO)

St. Louis Real Estate Market Watch
December 29th, 2007
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!

St. Louis Real Estate comes to the close of another year. And what a year it’s been watching home prices slide downward and days on market climb into triple digits. Watching the “Mortgage Credit Crisis” unfold was, and still is, one of the major events we all are paying close attention to. Buyers and Sellers this past year have had to adjust to a new set of “rules-of-thumb” when it came to buying and selling a home. Those that adjusted quickly had great success with their buying and selling process; those that took too long to adjust helped contribute to the abundance of inventory of homes that are still available. When all the statistics are in, I think we will still see that 2007 was one of the better years in real estate here in St. Louis.

St. Louis Real Estate in 2008 is predicted to be a better picture with a slight increase in home prices and an increase in sales volume. We have a lot going for us here in St. Louis in the coming year. Just a few of the positives are:

1. Mortgage lenders are sorting out their problems and developing products to help us

move forward into 2008

2. The Fed’s Rate Cut in the last quarter of 2007 should spur more activity within our marketplace.

3. With New Home Builders slowing their production, inventories should start to level off

a bit and in turn help existing-home sales.

4. The Wacovia / A.G. Edwards Merger and the Edward Jones Co. expansion will certainly create some great real estate opportunities in St. Louis.

5. President Bush’s plan to help a portion of the sub-prime borrowers should

help to keep inventories in some price ranges in check.

SO…We’re looking forward to 2008 and all the opportunities a new year presents.

WATCH WHAT HAPPENS— Stay with us through 2008 and see if all the postive predictions come true.

HAVE A SAFE AND HAPPY NEW YEAR!!

Thinking of buying or selling a home? Contact Us for additional information tailored to your specific needs.

St. Louis Real Estate St. Louis County Market Watch December 29th, 2007

St. Louis Real Estate Jefferson County Market Watch December 29th, 2007

St. Louis Real Estate St. Charles County Market Watch December 22nd, 2007

St. Louis Real Estate Benchmark Report November 2007

The report begins by breaking the market into 17 distinct price ranges. Then we show current listings and current pending listings which creates a pending ratio, which is helpful on a week to week basis to see if activity is increasing or decreasing in a price category.

The report also shows the last 6 months of results and compares the data to the same 6 months of the previous year.

The Market Analysis includes data on:

Number of Active Listings (Current)
Pending Sales (Going to closing)
Pending Ratio (Active vs.Pending)
Sold (Last 6 months)
Expired (Last 6 months)1
Average List Price
Average Sale Price
Average List to Sales Price %
Days on Market (DOM)
Months worth of Inventory (Based on current pending rate)
Buyers Market: > 7 months of listing inventory

Transitional Market: 5 - 7 months of listing inventory (sometimes called a “balanced” market)

Seller Market: < 5 months of listing inventory

Average % Sale Price/List Price (0-30), (31-60), (61-90), (91-120), (120+)DOM

Notice that you’re paying a penalty for over pricing. . .hey. .it’s a fact!!

The Benchmark Report is produced monthly for:

• Single Family Residence
• Ranch Style
• 1300 - 2000 sq.ft.
• 3 Bedrooms
• 1.5 Bathrooms

Art Wagner can be reached at art@stlouisrealestatevoice.com

Posted by Art Wagner   |   Read More   |   Your Comments Are Welcome!   |   12.29.2007

St. Louis Real Estate-Market Watch December 22nd, 2007

Filed under: First Time Home Buyer, For Buyers, For Sellers, Real Estate News, Relocation Buyer, St. Louis Market Reports, Unrepresented Seller(FSBO)

St. Louis Real Estate Market Watch 
December 22nd,  2007
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! 

ST. LOUIS REAL ESTATE TAKES A BACK SEAT TO LAST MINUTE HOLIDAY SHOPPING!!

Makes sense, this time of year, as active listings and pending sales and our pending ratios drop again this week.  Even so, there is still activity in the marketplace.  Serious buyers and sellers alike are hoping for that ULTIMATE holiday gift—a new home or an accepted contract.

Once the holidays have passed, it will be interesting to see how the buyers and sellers in the marketplace adjust to all the new events in the mortgage industry.  Let’s hope 2008 will be a better year for everyone in the market. 

According to the National Association of Realtors, existing-home sales are projected to trend upward  in 2008. The NAR also predicts that the median home price for 2008 should increase 0.3% in 2008.  Read this article in it’s entirety here at Realtor.org. 

HAPPY HOLIDAYS TO ALL OUR READERS!!

Thinking of buying or selling a home? Contact Us for additional information tailored to your specific needs.

St. Louis Real Estate St. Louis County Market Watch December 22nd, 2007

St. Louis Real Estate Jefferson  County Market Watch December 15th, 2007

St. Louis Real Estate St. Charles County Market Watch December 22nd, 2007

St. Louis Real Estate Benchmark Report November 2007

The report begins by breaking the market into 17 distinct price ranges. Then we show current listings and current pending listings which creates a pending ratio, which is helpful on a week to week basis to see if activity is increasing or decreasing in a price category. 

The report also shows the last 6 months of results and compares the data to the same 6 months of the previous year. 

The Market Analysis includes data on: 

Number of Active Listings (Current)
Pending Sales (Going to closing)
Pending Ratio (Active vs.Pending)
Sold (Last 6 months)
Expired (Last 6 months)1
Average List Price
Average Sale Price
Average List to Sales Price %
Days on Market (DOM)
Months worth of Inventory (Based on current pending rate)
Buyers Market: > 7 months of listing inventory

Transitional Market: 5 - 7 months of listing inventory (sometimes called a “balanced” market)

Seller Market: < 5 months of listing inventory

Average % Sale Price/List Price (0-30), (31-60), (61-90), (91-120), (120+)DOM
           
Notice that you’re paying a penalty for over pricing. . .hey. .it’s a fact!!  

The Benchmark Report is produced monthly for:

• Single Family Residence
• Ranch Style
• 1300 - 2000 sq.ft.
• 3 Bedrooms
• 1.5 Bathrooms  

Art Wagner can be reached at art@stlouisrealestatevoice.com

Posted by Art Wagner   |   Read More   |   Your Comments Are Welcome!   |   12.22.2007

St. Louis Real Estate-Market Watch December 15, 2007

Filed under: First Time Home Buyer, For Buyers, For Sellers, Real Estate News, Relocation Buyer, St. Louis Market Reports, Unrepresented Seller(FSBO)

St. Louis Real Estate Market Watch 
December 15th,  2007
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! 

This week, buyers choices for that Dream Home continue to diminish, as we are showing less than 5000 active listings.  To follow, the pending ratio is inching higher to 12.48%.  This is typical this time of year, but what is not typical is the recent actions by the Fed and other Central Banks around the world, and the mortgage rates on a roller-coaster, but still very affordable around 6%.

Both buyers and sellers should benefit from these recent actions by the Fed and other Central Banks around the world.  Buyers that fit into the scenarios just created will have a better chance of obtaining a mortgage or possibly locking into a more favorable rate.  Sellers therefore should have a better chance of getting their home sold in a timely fashion. 

The higher priced homes in our area may also benefit, as there is now talk about raising the $417,000 limit on conventional mortgages. Currently, a mortgage above $417,000 is qualified as a JUMBO mortgage which usually comes with a higher interest rate. 

Who knows where all these “fixes” will come to rest, but it seems that everything that’s being done is good step in the right direction.  Keep an eye on what’s happening with us by checking out Chris Scheer’s articles that are posted in our blog frequently.  You can also check current happenings at www.realtor.org. 

Thinking of buying or selling a home? Contact Us for additional information tailored to your specific needs.

St. Louis Real Estate St. Louis CountyMarket Watch December 15th, 2007

St. Louis Real Estate Jefferson  County Market Watch December 15th, 2007

St. Louis Real Estate St. Charles County Market Watch November 24, 2007

St. Louis Real Estate Benchmark Report November 2007

The report begins by breaking the market into 17 distinct price ranges. Then we show current listings and current pending listings which creates a pending ratio, which is helpful on a week to week basis to see if activity is increasing or decreasing in a price category. 

The report also shows the last 6 months of results and compares the data to the same 6 months of the previous year. 

The Market Analysis includes data on: 

Number of Active Listings (Current)
Pending Sales (Going to closing)
Pending Ratio (Active vs.Pending)
Sold (Last 6 months)
Expired (Last 6 months)1
Average List Price
Average Sale Price
Average List to Sales Price %
Days on Market (DOM)
Months worth of Inventory (Based on current pending rate)
Buyers Market: > 7 months of listing inventory

Transitional Market: 5 - 7 months of listing inventory (sometimes called a “balanced” market)

Seller Market: < 5 months of listing inventory

Average % Sale Price/List Price (0-30), (31-60), (61-90), (91-120), (120+)DOM
           
Notice that you’re paying a penalty for over pricing. . .hey. .it’s a fact!!  

The Benchmark Report is produced monthly for:

• Single Family Residence
• Ranch Style
• 1300 - 2000 sq.ft.
• 3 Bedrooms
• 1.5 Bathrooms  

Art Wagner can be reached at art@stlouisrealestatevoice.com

Posted by Art Wagner   |   Read More   |   Your Comments Are Welcome!   |   12.15.2007

St. Louis Real Estate-Market Watch December 8th, 2007

Filed under: First Time Home Buyer, For Buyers, For Sellers, Real Estate News, Relocation Buyer, St. Louis Market Reports, Unrepresented Seller(FSBO)

St. Louis Real Estate Market Watch
December 8th, 2007
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 continues to show typical seasonal trends of slowing with an increase of expired listings staying off the market, and a big drop in active listings. The good news is that our pending ratio is holding between 12–13%. This is a good indicator that the homes that are still on the market are attracting offers and accepting contracts.

The other good news is that if you are loan shopping now, you have an opportunity to get a fixed 30 year mortgage below 6%, if you qualify. Check out our Mortgage Guru Chriss Scheer’s latest articles posted in our blog for his evaluation of the current mortgage industry situations.

Also, President Bush this week rolled out his plan to help the sub-prime market problems. For an in-depth description and explaination of the program, see this article,”Who the Subprime Mortgage Plan Will Help” courtesy of RIS Media. This plan seems to be a step in the right direction, although it will probably only help 1.2 million people in the subprime market, as it targets borrowers who are relatively current on their mortgages.

Thinking of buying or selling a home? Contact Us for additional information tailored to your specific needs.

St. Louis Real Estate St. Louis County Market Watch December 8th, 2007

St. Louis Real Estate Jefferson County Market Watch December 1st, 2007

St. Louis Real Estate St. Charles County Market Watch December 8th, 2007

St. Louis Real Estate Benchmark Report November 2007

The report begins by breaking the market into 17 distinct price ranges. Then we show current listings and current pending listings which creates a pending ratio, which is helpful on a week to week basis to see if activity is increasing or decreasing in a price category.

The report also shows the last 6 months of results and compares the data to the same 6 months of the previous year.

The Market Analysis includes data on:

Number of Active Listings (Current)
Pending Sales (Going to closing)
Pending Ratio (Active vs.Pending)
Sold (Last 6 months)
Expired (Last 6 months)1
Average List Price
Average Sale Price
Average List to Sales Price %
Days on Market (DOM)
Months worth of Inventory (Based on current pending rate)
Buyers Market: > 7 months of listing inventory

Transitional Market: 5 - 7 months of listing inventory (sometimes called a “balanced” market)

Seller Market: < 5 months of listing inventory

Average % Sale Price/List Price (0-30), (31-60), (61-90), (91-120), (120+)DOM

Notice that you’re paying a penalty for over pricing. . .hey. .it’s a fact!!

The Benchmark Report is produced monthly for:

• Single Family Residence
• Ranch Style
• 1300 - 2000 sq.ft.
• 3 Bedrooms
• 1.5 Bathrooms

Art Wagner can be reached at art@stlouisrealestatevoice.com

Posted by Art Wagner   |   Read More   |   Your Comments Are Welcome!   |   12.08.2007

St. Louis Real Estate-Just Do It-NOW!

Filed under: First Time Home Buyer, For Buyers, For Sellers, Real Estate News, Relocation Buyer, St. Louis Market Reports, Unrepresented Seller(FSBO)

St. Louis Real Estate Market Watch 
November 24th,  2007
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! 

HEY BUYERS!! How much more evidence do you need to see that NOW is the time to buy that DREAM HOME?? 

MORTGAGE RATES HAVE FALLEN AGAIN!!  Read Chris Scheer’s article, “Lock it and Pocket the Money”, published in our blog or check out Inman News for proof. This last week we’ve seen some awesome activity on the mortgage rate side of our business.

Earlier this week, Inman News reported that the long-term mortgage interest rates were down and that the benchmark 10–year Treasury bond yield dropped to 3.83%. Inman News reports, based on data from Bankrate.com, that the 30–yr. fixed rate was down to 5.82% and the 15–yr. fixed rate fell to 5.4%.  Bankrate.com’s data is composed of surveying 4000 banks in 50 states.

Inman News also reported this last week that the “sales rate for NEW HOME sales rose in October for the first time since April, but fell about 23.5% compared to October 2006.  Also, the median sales price of new homes dropped 13% in October compared to October 2006.”

This last Wednesday, according to Inman News, the National Association of Realtors reported that the median price of re-sale homes fell 5.1% in October 2007 compared to October 2006.  Also, another index released this week by the National Association of Home Builders and Wells Fargo, revealed that the NATIONAL median price of new and re-sale homes sold in the third quarter this year dropped 3.6% compared to the third quarter of 2006.

FOR ALL YOU JUMBO MORTGAGE BUYERS— Sorry, your loan will probably get a bit more expensive, as this last week, Inman News reported that the average 30 yr. JUMBO loan rose 4 basis points from a week ago to 7.24%.

SO…What does that mean for our St. Louis Real Estate Market??—That means BUY YOUR NEW HOME NOW, and LOCK IN YOUR LOAN.

With the St. Louis Real Estate Market this week showing more listings coming off the market, and pending ratios hanging in at 12–13%, the buyers that are serious are buying.  There are some GREAT values out there, which doesn’t mean you can STEAL a home, just that this a great time to get excellent value for your hard-earned dollar.  For homes that are priced within market value, we are still in a 2–4% market with our average sales to list price comparisons. 

Thinking of buying or selling a home? Contact Us for additional information tailored to your specific needs.

St. Louis Real Estate St. Louis County Market Watch December 1st, 2007

St. Louis Real Estate Jefferson  County Market Watch December 1st, 2007

St. Louis Real Estate St. Charles County Market Watch November 24, 2007

St. Louis Real Estate Benchmark Report November 2007

The report begins by breaking the market into 17 distinct price ranges. Then we show current listings and current pending listings which creates a pending ratio, which is helpful on a week to week basis to see if activity is increasing or decreasing in a price category. 

The report also shows the last 6 months of results and compares the data to the same 6 months of the previous year. 

The Market Analysis includes data on: 

Number of Active Listings (Current)
Pending Sales (Going to closing)
Pending Ratio (Active vs.Pending)
Sold (Last 6 months)
Expired (Last 6 months)1
Average List Price
Average Sale Price
Average List to Sales Price %
Days on Market (DOM)
Months worth of Inventory (Based on current pending rate)
Buyers Market: > 7 months of listing inventory

Transitional Market: 5 - 7 months of listing inventory (sometimes called a “balanced” market)

Seller Market: < 5 months of listing inventory

Average % Sale Price/List Price (0-30), (31-60), (61-90), (91-120), (120+)DOM
           
Notice that you’re paying a penalty for over pricing. . .hey. .it’s a fact!!  

The Benchmark Report is produced monthly for:

• Single Family Residence
• Ranch Style
• 1300 - 2000 sq.ft.
• 3 Bedrooms
• 1.5 Bathrooms  

Art Wagner can be reached at art@stlouisrealestatevoice.com

Posted by Art Wagner   |   Read More   |   Your Comments Are Welcome!   |   12.01.2007

St. Louis Real Estate-Market Watch November 17, 2007

Filed under: First Time Home Buyer, For Buyers, For Sellers, Real Estate News, Relocation Buyer, St. Louis Market Reports, Unrepresented Seller(FSBO)

St. Louis Real Estate Market Watch 
November 17th,  2007
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! 

 Thinking of buying or selling a home? Contact Us for additional information tailored to your specific needs.

The St. Louis Real Estate Market this week has shown a small improvement from the last couple of weeks. We are seeing positive signs with the pending ratio inching up closer to 12% as more homes are accepting contracts AND selling a bit closer to listing price at 97.7%.  Much of this is due to less inventory on the market and buyers having fewer choices. This week, active listings have dropped by almost 200 and there is still an ever increasing number of “market rejected listings” choosing to stay off the market.

As we get closer to the end of the year, buyers that need to buy are realizing that it’s time to act if they want to be in a home before the end of the year. 

The Sellers that we talk to also realize that the end of the year is approaching and are either adjusting their prices or making other concessions or needed improvements to try to attract the buyers that are in the marketplace.  In this market, or any market for that matter, it’s all about being no. 1 and the “Best House on The Block.”

St. Louis Real Estate St. Louis County Market Watch November 17th, 2007

St. Louis Real Estate Jefferson  County Market Watch November 17th, 2007

St. Louis Real Estate St. Charles County Market Watch November 10, 2007

St. Louis Real Estate Benchmark Report October 2007

The report begins by breaking the market into 17 distinct price ranges. Then we show current listings and current pending listings which creates a pending ratio, which is helpful on a week to week basis to see if activity is increasing or decreasing in a price category. 

The report also shows the last 6 months of results and compares the data to the same 6 months of the previous year. 

The Market Analysis includes data on: 

Number of Active Listings (Current)
Pending Sales (Going to closing)
Pending Ratio (Active vs.Pending)
Sold (Last 6 months)
Expired (Last 6 months)1
Average List Price
Average Sale Price
Average List to Sales Price %
Days on Market (DOM)
Months worth of Inventory (Based on current pending rate)
Buyers Market: > 7 months of listing inventory

Transitional Market: 5 - 7 months of listing inventory (sometimes called a “balanced” market)

Seller Market: < 5 months of listing inventory

Average % Sale Price/List Price (0-30), (31-60), (61-90), (91-120), (120+)DOM
           
Notice that you’re paying a penalty for over pricing. . .hey. .it’s a fact!!  

The Benchmark Report is produced monthly for:

• Single Family Residence
• Ranch Style
• 1300 - 2000 sq.ft.
• 3 Bedrooms
• 1.5 Bathrooms  

Art Wagner can be reached at art@stlouisrealestatevoice.com

Posted by Art Wagner   |   Read More   |   Your Comments Are Welcome!   |   11.17.2007

St. Louis Real Estate-Market Watch November 10, 2007

Filed under: First Time Home Buyer, For Buyers, For Sellers, Real Estate News, Relocation Buyer, St. Louis Market Reports, Unrepresented Seller(FSBO)

St. Louis Real Estate Market Watch 
November 10th,  2007
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 made any significant moves from last week.  We are sitting on a “plateau” right now, perhaps waiting to see what will happen as we get closer to the holidays and perhaps waiting to see if the rate cut by the Fed will effect the market. 

There is still plenty of inventory in the market for buyers to look at, but they should also take note that sellers that are in the marketplace are pricing their homes competitively as evidenced by our average list to sales percentages.  Homes accepting offers within the first 30 days, are still in a 2–3% market.  Homes that are up to 60 days on the market are remaining in a 3–4% market.  So..buyers that are looking for a that “so called DEAL”  must look at homes that are on the market longer than 60 days, and in some price ranges 90 days plus.

Mr. Buyer, do you want to take the chance that you will miss the home of your dreams by waiting for long market times?  Buyers that are looking now are more motivated and are buying somewhat quicker than in previous months. 

Sellers—with the amount of inventory on the market your mission still has not changed.  To get your home sold in today’s market, for the most money, in the shortest period of time you MUST be NO. 1 in your price range. You should be priced within market value, or a bit below it, be in the best condition, with all the expected updated in your price range and have the home aggressively marketed by a real estate professional. 

 Thinking of buying or selling a home? Contact Us for additional information tailored to your specific needs.

St. Louis Real Estate St. Louis County Market Watch November 10, 2007

St. Louis Real Estate Jefferson  County Market Watch November 2nd, 2007

St. Louis Real Estate St. Charles County Market Watch November 10, 2007

St. Louis Real Estate Benchmark Report October 2007

The report begins by breaking the market into 17 distinct price ranges. Then we show current listings and current pending listings which creates a pending ratio, which is helpful on a week to week basis to see if activity is increasing or decreasing in a price category. 

The report also shows the last 6 months of results and compares the data to the same 6 months of the previous year. 

The Market Analysis includes data on: 

Number of Active Listings (Current)
Pending Sales (Going to closing)
Pending Ratio (Active vs.Pending)
Sold (Last 6 months)
Expired (Last 6 months)1
Average List Price
Average Sale Price
Average List to Sales Price %
Days on Market (DOM)
Months worth of Inventory (Based on current pending rate)
Buyers Market: > 7 months of listing inventory

Transitional Market: 5 - 7 months of listing inventory (sometimes called a “balanced” market)

Seller Market: < 5 months of listing inventory

Average % Sale Price/List Price (0-30), (31-60), (61-90), (91-120), (120+)DOM
           
Notice that you’re paying a penalty for over pricing. . .hey. .it’s a fact!!  

The Benchmark Report is produced monthly for:

• Single Family Residence
• Ranch Style
• 1300 - 2000 sq.ft.
• 3 Bedrooms
• 1.5 Bathrooms  

Art Wagner can be reached at art@stlouisrealestatevoice.com

Posted by Art Wagner   |   Read More   |   1 Comment »   |   11.10.2007