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St. Louis House Prices, Sales Fall Again In June

By
Real Estate Agent with Equity Fifty Five Realty, LLC

We are still mired in the heat of summer in the St. Louis area, including a real estate market that is wilting under the heat. Home prices have been sliding in the St. Louis region including the Metro East Illinois market, along with the number of homes selling in the region.

According to the new figures out this week from regional real estate listing services, overall sales of previously owned homes fell 5 percent in 11 counties compared to last June. It was the fifth-straght month of year over year declines, though sales fell by more than 20 perfect in March, April and May. Throught the first six months of the year, sales are down 15 percent.

While the sales decline softened, the slump in prices appeared to pick up speed. Eight of the 11 counties surveyed reported double-digit declines in the median price of homes sold, compared to last June. In the city of St. Louis, the median price fell nearly one-fourth. In the Metro East 3 counties actually saw prices go up.

One reason for the decline is the glut of foreclosed homes and lower priced houses on the market, as well as, the $8000 tax credit that brought extra activity last June that home buyers do not get to enjoy this year.

Across the U.S. house sales fell 8.8% compared to last June, according to the National Assocation of Realtors. Prices, though ticked up ever so slightly.

AREA HOUSE SALES

 

SALES

 

 

MEDIAN

PRICE

 

 

JUNE 10

JUNE 11

CHANGE

JUNE 10

JUNE 11

CHANGE

STL COUNTY

1224

1240

-.03%

$175,000

$145,000

-17.1%

ST CHARLES

432

398

-7.9%

$186,000

$155,635

-16.3%

ST LOUIS CITY

300

297

-1.0%

$136,875

$104,000

-24.0%

JEFFERSON

223

226

1.3%

$140,000

$120,000

-14.3%

MADISON-IL

238

217

-8.8%

$116,750

119,900

2.7%

ST CLAIR-IL

256

200

-21.9%

$135,500

$117,500

-13.3%

FRANKLIN

98

85

-13.3%

$121,750

$105,000

-13.3%

LINCOLN

60

48

-20.0%

$128,000

$99,000

-22.7%

WARREN

40

32

-20.0%

$172,450

$138,500

-19.7%

MONROE-IL

37

31

-16.2%

$164,000

$185,000

12.8%

CLINTON-IL

23

28

21.7%

$110,000

$129,000

17.3%

 

 

 

 

 

 

 

TOTAL

2951

2802

-5.0%

 

 

 

 

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Comments (2)

Barb & Sal Dragotta
Macomb, MI
Macomb County Michigan

Paul...had seen this result posted on Cable News as a national situation. No reasons were given other than the normal--waiting on congress to clean, clear up budget mess, or more pointedly, somehow a reelcetiion ploy ??
Whatever the reason, your area is not alone, not that THAT is any consolation at all.
Will be interesting to see the July results.
have a good Sunday.
Barb

Jul 24, 2011 08:29 AM
Not a real person
San Diego, CA

Our sales fell, too, but that's because the federal and state governments were interfering with the market in June 2010. Prices are up.Happy Monday!

Jul 25, 2011 04:36 AM