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Real Estate Statistics for St Louis through September 2012
Closed sales reflect the business written in the previous month. The stifling heat in August in St. Louis is still fresh in my mind and looking at homes during that month was a challenge for sure. This may be one of the factors causing the downturn in sales for September 2012. Looking back over the last ten year period, however, there have been several other Septembers that showed a significant drop in the number sales.
The average days on the market is remaining stable even though it is higher than the bubble times. The months of supply (aka months of inventory and absorption rate). This number tells you how many months it would take for all the current homes for sale to sell, given a monthly sales volume. Four to five months of supply is average (this number varies from source to source). If the number is smaller, the buyers are dominating the market; greater the number, there are more sellers than buyers.
Here are a couple of examples of homes that sold in our metropolitan area during the month of September.
This brick bungalow at 9018 Powell in Brentwood was bought by a young professional family with a child. They moved to STL from out of town and chose Brentwood for its central location and School District. The house sold in September 2012 for $160,000. It was on the market for 86 days. They can walk to school and Carl's Drive-In. It was in move-in condition.
This downtown loft district condo at 1010 Saint Charles sold on October 1st (so we cheated a little) for $416,800 and sold with 0 days on the market. The 2 bedroom, 2 bathroom condo features exposed brick, 12 foot ceilings, 60+ feet of huge windows, gourmet kitchen, walk-in pantry and laundry room.
16 Cedar Crest sold in September. It is located at the end of a cul-de-sac. This one-story traditional home has an open floor plan with 3 bedrooms and 2 full bathrooms; a formal dining room, an eat-in kitchen and a 2-car garage. On the market for 53 days, this home sold for $410,000.
If you are throwing around the idea of buying or selling your home, please call me for a consultation about the market overview as it relates to your unique needs.
Barb Heise Keller Williams Realty STL (314) 677-6046
If you would like to search for properties in St. Louis, click the tab Search for Properties. For best results click on the school district tab and use the drop down to choose your school districts of choice.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.