Chesterfield, MO Condos Market Report - September 2011

Chesterfield, MO Condos Market Report - September 2011

Market Profile & Trends Overview

Property Sales

September Property sales were 10, equal to 10 in
September of 2010 and 44.4% lower than the 18 sales
last month. September 2011 sales were at their
lowest level compared to September of 2010 and
2009. September YTD sales of 118 are running 11.9%
behind last year's year-to-date sales of 134.


Prices

The Median Sales Price in September was $249,500,
down 35.6% from $387,500 in September of 2010
and up 16.2% from $214,750 last month. The
Average Sales Price in September was $292,500,
down 14.7% from $342,750 in September of 2010 and
up 33.1% from $219,816 last month. September 2011
ASP was at the lowest level compared to September
of 2010 and 2009.


Inventory & MSI

The Total Inventory of Properties available for sale as of
September was 161, down 0.6% from 162 last month and
down 20.3% from 202 in September of last year.
September 2011 Inventory was at its lowest level
compared with September of 2010 and 2009. A comparatively
lower MSI is more beneficial for sellers while a higher
MSI is better for buyers. The September 2011 MSI
of 16.1 months was at a mid level compared with
September of 2010 and 2009.


Market Time

The average Days On Market (DOM) shows how many
days the average Property is on the market before it
sells. An upward trend in DOM tends to indicate a move
towards more of a Buyer's market, a downward trend a
move towards more of a Seller's market. The DOM for
September was 234, up 93.4% from 121 days last month
and up 114.7% from 109 days in September of last year.
The September 2011 DOM was at a mid level compared
with September of 2010 and 2009.


Selling Price per Square Foot

The Selling Price per Square Foot is a great indicator for
the direction of Property values. Since Median Sales
Price and Average Sales price can be impacted by the
'mix' of high or low end Properties in the market, the
selling price per square foot is a more normalized
indicator on the direction of Property values. The
September 2011 Selling Price per Square Foot of $122
was down 0.2% from $122 last month and down 13.8%
from 142 in September of last year.


Selling Price vs Original Listing Price

The Selling Price vs Original Listing Price reveals the
average amount that Sellers are agreeing to come down
from their original list price. The lower the ratio is
below 100% the more of a Buyer's market exists, a ratio
at or above 100% indicates more of a Seller's market.
The September 2011 Selling Price vs Original List Price
of 92.8% was down from 93.4% last month and up from
92.5% in September of last year.



Inventory / New Listings / Sales

This last view of the market combines monthly
inventory of Properties for sale along with New Listings
and Sales. The graph shows the basic annual
seasonality of the market as well as the relationship
between these items. The number of New Listings in
September 2011 was 29, down 14.7% from 34 last month
and up 7.4% from 27 in September of last year.