Greystone Subdivision Market report - Chesterfield MO

Greystone subdivision market stats in Chesterfield MO



Greystone subdivision in Chesterfield MO is a popular, highly sought after subdivision.  Recently, we examined market data year to year over the past 4 years.  Specifically, we looked at median sale prices.  Home prices in Greystone range from the $600,000s to well over $1M.  As a result, median sale prices seemed to be a good mechanism by which to examine trends in subdivision sale prices.    

Starting in January 2007 through August of 2011, the trend for Greystone subdivision sale prices is down.  This follows both local and national trends for sale prices.  The median sale price for 2011, year to date is $647,000.  This is the lowest median sale price for Greystone since 2001.  Coincidentally, the highest median sale price ever for a calendar year in Greystone was $873,000 in 2007.  Homes average 15 years of age.   

It is important to remember that with such a wide variance in sale prices in Greystone subdivision, there can be wide swings in average and even median sale prices.  There is less variance swing using median sale price rather than average sale price so that parameter was used.  In addition, since there are less than 130 homes in Greystone subdivision, there are typically less than 10 home sales per year.  Several years, there were only two sales so the median and average sale prices can be quite skewed.  It is best to examine actual sales to determine the validity of the data that emerges from these market analyses. The more homes sales, the more accurate the data.  In the past 4 1/2 years, only one year had less than 5 sales and that was in 2009 when only 2 homes sold. 

With 7 homes currently on the market in Greystone, there is a good chance there will be at least one additional sale before the end of 2011 to end the year with 4-5 sales for the year.