LAFAYETTE SQUARE HOUSING REPORT - 2009 CONDO SALES
Interested in purchasing or selling a condominium in Lafayette Square? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or send an e-mail to Ryan@PREASignatureRealty.com. Or, visit our website at www.PREASignatureRealty.com or our blog at www.LafayetteReport.com.
HISTORICAL TRENDS
The Lafayette Square housing market as a whole continues to outperform compared to trends in the St. Louis City and St. Louis Metropolitan Statistical Area. Despite this good news, condominium sales in Lafayette Square remain flat compared to 2009. Here are some general comments about trends in the Lafayette Square housing market relating to condominium sales:
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Condominium sales in Lafayette Square remain flat with 2009 condominium sales to be slightly above the sales volume for 2008 condominium sales.
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The average sales price for condominiums in Lafayette Square in 2009 fell 12% in year to date figures compared to 2008.
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The average per square foot price for condominiums sold in Lafayette Square remained flat from at $125 per square foot compared to $128 per square foot.
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The sales price to list price ratio for condo sold in Lafayette Square remained constant at historical levels of approximately 96% of list price.
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The average number of days on market for condominium sales in Lafayette Square spiked from 182 days in 2008 to 289 days in 2009.
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It is unclear what impact new construction sales in Lafayette Square has had on the overall condo statistics. The bulk of the new construction sales at Vail Place, Lafayette Walk, 1801 Park Avenue, Eden Lofts, and the Abbey on the Park occurred in 2005 and 2006. Developers in Lafayette Square report new construction sales in different manners with some sales not listed in MLS and other sales included in MLS but reported as withdrawn as opposed to sold.
2009 MARKET DATA
Pricing - Key to Sales and Days on Market
The current 2009 market data for sales of condominiums in Lafayette Square reinforces the importance of pricing. Key statistics show that well-priced homes sell at 95% of list price in 60 days or less. Improperly priced condominiums tend to languish selling at a 13-21% discount off of the original list price.
Percentage of Sales
Days on Market
0-30 Days
31-60 Days
61-90 Days
91-120 Days
120+ Days
Sold Listings
3
1
2
1
6
23.08
7.69
15.38
7.69
46.15
Sales Price -List Price Ratio
97.52
96.64
91.96
87.71
79.45
Average Sales Prices - $150,000 to $200,000 Market Shows Strength
The current 2009 market data for sales of condominiums in Lafayette Square show that the great number of sales in the $150,000 to $200,000 range with the average price at $158,000 and the median price at $155,000.
| Summary Price Information | |||
| Minimum | $84,000 | Maximum | $252,350 |
| Average | $157,573 | Median | $155,000 |
| Sold | ||||||
| #Units | 13 | |||||
| Dollar Value | $2,048,450 | |||||
| Average List Price | $164,399 | |||||
| Average Sold Price | $157,573 | |||||
| Average Market Time | 228 | |||||
| Average Square Feet | 1054 | |||||
| % of List Price | 95.85 | |||||
| Selling Price Range | Quantity | Average DOM | |
| $80,000 thru $89,999 | 1 | 329 | |
| $90,000 thru $99,999 | 1 | 89 | |
| $100,000 thru $119,999 | 1 | 74 | |
| $120,000 thru $139,999 | 1 | 641 | |
| $140,000 thru $159,999 | 4 | 197 | |
| $160,000 thru $179,999 | 3 | 60 | |
| $200,000 thru $249,999 | 1 | 149 | |
| $250,000 thru $299,999 | 1 | 714 | |
| 13 | 228 |
Cooperating Brokers
The current 2009 market data for condominium sales in Lafayette Square suggests that the majority of condominium sales in Lafayette Square are procured through cooperating brokers.
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Cooperative Sales 12 Sales $1,923,450 92%
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In House Sales 1 Sale $125,000 8%
Brokerage Rankings - By Sales Dollar Volume
Brokerage Rankings - By Transactions
CONDOS AND LOFTS CURRENTLY AVAILABLE FOR SALE IN LAFAYETTE SQUARE
Currently, there are 29 condominiums listed for sale in Lafayette Square totaling $6.63 million dollars. The average sales price is $229,000.00. To view a list of condominiums currently for sale in Lafayette Square, click on View Listings - Lafayette Square Condominiums for Sale.
EDEN LOFTS - 1720 Chouteau
Lease Option and Lease Purchase Available
| Unit | Address | Current Price | HOA Fees | Sq.Ft. | # BR | # BA |
| ED102 | 1720 Chouteau | $179,000 | $180 | 1215 | 2 | 2 |
| ED307 | 1720 Chouteau | $180,000 | $165 | 1129 | 2 | 2 |
| ED505 | 1720 Chouteau | $175,000 | $155 | 1036 | 2 | 2 |
| ED404 | 1720 Chouteau | $166,000 | $160 | 1093 | 2 | 2 |
| ED405 | 1720 Chouteau | $166,000 | $155 | 1036 | 2 | 2 |
| ED504 | 1720 Chouteau | $175,000 | $160 | 1093 | 2 | 2 |
| ED310 | 1720 Chouteau | $176,000 | $160 | 1091 | 2 | 2 |
| ED105 | 1720 Chouteau | $193,000 | $185 | 1268 | 2 | 2 |
| ED107 | 1720 Chouteau | $200,000 | $205 | 1386 | 2 | 2 |
| ED207 | 1720 Chouteau | $200,000 | $205 | 1394 | 2 | 2 |
| ED204 | 1720 Chouteau | $200,000 | $205 | 1396 | 2 | 2 |
| ED109 | 1720 Chouteau | $200,000 | $245 | 1631 | 1 | 1.5 |
UNION CLUB - 2340 Lafayette
Lease Option and Lease Purchase Available
| Unit | Address | Current Price | HOA Fees | Sq.Ft. | # BR | # BA |
| 1A | 2340 Lafayette | $200,000 | $185.25 | 1235 | 2 | 2 |
| 1B | 2340 Lafayette | $200,000 | $176.70 | 1178 | 2 | 2 |
| 1C | 2340 Lafayette | $223,011 | $187.20 | 1248 | 2 | 2 |
| 1D | 2340 Lafayette | $200,000 | $191.70 | 1278 | 2 | 2 |
| 1E | 2340 Lafayette | $263,867 | $200.40 | 1336 | 2 | 2 |
| 1F | 2340 Lafayette | $240,166 | $182.40 | 1216 | 2 | 2 |
| 1G | 2340 Lafayette | $260,312 | $197.70 | 1318 | 2 | 2 |
| 1H | 2340 Lafayette | $259,127 | $196.80 | 1312 | 2 | 2 |
| 1I | 2340 Lafayette | $257,349 | $195.45 | 1303 | 2 | 2 |
| 1J | 2340 Lafayette | $200,000 | $183.30 | 1222 | 2 | 2 |
| 1K | 2340 Lafayette | $223,011 | $187.20 | 1248 | 2 | 2 |
| 1L | 2340 Lafayette | $200,000 | $176.70 | 1178 | 2 | 2 |
| 1M | 2340 Lafayette | $200,000 | $179.40 | 1196 | 2 | 2 |
| 2A | 2340 Lafayette | $244,530 | $185.25 | 1235 | 2 | 2 |
| 2B | 2340 Lafayette | $221,582 | $176.70 | 1178 | 2 | 2 |
| 2C | 2340 Lafayette | $234,749 | $187.20 | 1248 | 2 | 2 |
| 2D | 2340 Lafayette | $253,044 | $191.70 | 1278 | 2 | 2 |
| 2E | 2340 Lafayette | $277,754 | $200.40 | 1336 | 2 | 2 |
| 2F | 2340 Lafayette | $252,806 | $182.40 | 1216 | 2 | 2 |
| 2G | 2340 Lafayette | $274,012 | $197.70 | 1318 | 2 | 2 |
| 2H | 2340 Lafayette | $272,765 | $196.80 | 1312 | 2 | 2 |
| 2I | 2340 Lafayette | $270,894 | $195.45 | 1303 | 2 | 2 |
| 2J | 2340 Lafayette | $241,956 | $183.30 | 1222 | 2 | 2 |
| 2K | 2340 Lafayette | $234,749 | $187.20 | 1248 | 2 | 2 |
| 2L | 2340 Lafayette | $221,582 | $176.70 | 1178 | 2 | 2 |
| 2M | 2340 Lafayette | $236,808 | $179.40 | 1196 | 2 | 2 |
| 3A | 2340 Lafayette | $256,757 | $185.25 | 1235 | 2 | 2 |
| 3B | 2340 Lafayette | $232,661 | $176.70 | 1178 | 2 | 2 |
| 3C | 2340 Lafayette | $246,486 | $187.20 | 1248 | 2 | 2 |
| 3D | 2340 Lafayette | $265,696 | $191.70 | 1278 | 2 | 2 |
| 3E | 2340 Lafayette | $291,642 | $200.40 | 1336 | 2 | 2 |
| 3F | 2340 Lafayette | $265,447 | $182.40 | 1216 | 2 | 2 |
| 3G | 2340 Lafayette | $287,713 | $197.70 | 1318 | 2 | 2 |
| 3H | 2340 Lafayette | $286,403 | $196.80 | 1312 | 2 | 2 |
| 3I | 2340 Lafayette | $284,438 | $195.45 | 1303 | 2 | 2 |
| 3J | 2340 Lafayette | $254,054 | $183.30 | 1222 | 2 | 2 |
| 3K | 2340 Lafayette | $246,486 | $187.20 | 1248 | 2 | 2 |
| 3L | 2340 Lafayette | $232,661 | $176.70 | 1178 | 2 | 2 |
| 3M | 2340 Lafayette | $248,648 | $179.40 | 1196 | 2 | 2 |
MISSISSIPPI PLACE - 1618 Mississippi
| Unit | Address | Model | Current Price | HOA Fees | Sq.Ft. | # BR | # BA |
| MP-1906K | 1906 Kennett | Carriage House 1 | $249,500 | $150 | 1237 | 1 | 1.5 |
| MP-1907L | 1907 Lafayette | Carriage House 2 | $380,000 | $150 | 1627 | 1 | 1 |
THE GEORGIAN - 1515 Lafayette
Condo Fee includes insurance, sewer, water, gas, HVAC electric, and trash.
| Unit | Address | Model | Wing | Current Price | HOA Fees | Sq.Ft. | # BR | # BA |
| GA111 | 1515 Lafayette | Buckingham III | East | $233,000 | $415.65 | 1553 | 2 | 2 |
| GA204 | 1515 Lafayette | Kensington | West | $200,000 | $346.38 | 1356 | 2 | 2 |
| GA307 | 1515 Lafayette | Walpole | West | $200,000 | $346.38 | 1340 | 2 | 2 |
| GA404 | 1515 Lafayette | Kensington | West | $200,000 | $346.38 | 1373 | 2 | 2 |
| GA407 | 1515 Lafayette | Walpole | West | $200,000 | $346.38 | 1359 | 2 | 2 |
| GA419 | 1515 Lafayette | Cambridge | Center | $185,000 | $357.93 | 1266 | 2 | 2 |
| GA501 | 1515 Lafayette | Cornwall | Center | $243,000 | $357.93 | 1620 | 2 | 2 |
| GA519 | 1515 Lafayette | Cambridge | Center | $185,000 | $357.93 | 1266 | 2 | 2 |
| GA607 | 1515 Lafayette | Walpole II | West | $217,000 | $357.93 | 1442 | 2 | 2 |
| GA609 | 1515 Lafayette | Hanover | Center | $170,000 | $305.97 | 1112 | 2 | 2 |
| GA618 | 1515 Lafayette | Repton | Center | $200,000 | $334.83 | 1246 | 2 | 2 |
| GA619 | 1515 Lafayette | Cambridge | Center | $195,000 | $357.93 | 1266 | 2 | 2 |
SALES BROCHURES - NEW CONDOMINIUMS IN LAFAYETTE SQUARE
Interested in purchasing or selling a condominium in Lafayette Square? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or send an e-mail to Ryan@PREASignatureRealty.com. Or, visit our website at www.PREASignatureRealty.com or our blog at www.LafayetteReport.com.
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