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Weekly Single Family Home Market Report - City of St Louis - March 7, 2008

By
Real Estate Agent with Platinum Realty 1999090686

Following is the weekly market report for single family homes in the City of St Louis (Areas 1,2,3).  These statistics were gathered from the local multiple listing service:

There were 122 new Active listings that went on the market, with List prices ranging from $23,000 to $1,195,000.

25 listings went under contract (Contingent/Option), with List prices ranging from $49,000 to $1.499,000.

52 listings moved closer to closing (Pending), with List prices ranging from $9,500 to $995,000.

50 listings Sold, with Sold prices ranging from $4,400 to $610,000.

97 listings Expired from the market, with List prices ranging from $19,999 to $1,499,000.

And 29 listings went Inactive (Withdrawn/Cancelled), with List prices ranging from $29,000 to $500,000.

Of the 50 Sold listings, 16% were on the market for 30 or fewer days, and 38% were on the market for 120+ days.  For the 0-30 day category, the average sale price to list price ratio was 100.8%.  For the 120+ day category, the average sale price to list price ratio dropped to 95.2%. 

This doesn't seem like too much of a difference, but let's do a scenerio:  Say we have a home that is on the market 0-30 days.  It is listed at $150,000.  If we use our 100.8 % ratio, we get a sales price of $151,200.  For the same home listed at $150,000, on the market for 120+ days, we get a sales price of $142,800.  The difference between the two sales prices is $8,400.  In my opinion, that's a lot of cash to give up.  Moral of the story:  price your home correctly so it sells quickly, and doesn't hang on the market.

www.timtanzhomes.com

 

Posted by

Tim Tanz

St Louis Realtor, ABR, GRI

Notary Public - State of Missouri

St Louis Real Estate - Tim Tanz, Realtor   St Louis Real Estate - Tim Tanz, Realtor

Platinum Realty of St Louis

1034 S Brentwood Blvd, Ste 750, St Louis MO 63117

timtanzhomes.com

tim@timtanzhomes.com

314-974-4886

 

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