O Fallon MO and St Charles County MO an interesting look back at home sales 1998 forward…..

O Fallon MO and St Charles County MO an interesting look back at home sales 1998 forward…..

Most of the stats that I place here on Active Rain are just a look back at the last week.  And periodically I have looked back at the last month and maybe even the last quarter.  But as I was getting ready for an Economic Development Council meeting I thought I would do something a little different and look back to 1998 (when I came into the business) and bring the numbers forward.

We have often heard that if we don’t know where we have come from then how will we know where we are going. 

We currently have in St Charles County MO 2233 homes for sale with an average list price of $292,210 and they have been on the market an average of 152 days.

In addition we currently have 314 homes waiting to close (pending) with an average list price of $201,458 and were on the market an average of 95 days before going to pending status.

Other Observations:

• The housing market started to slow in 2006 in the number of homes sold however, the average single family home sale price rose along with the days on market and the sale price to list price % stayed the same.
• In 2007 and 2008 the average sale price dropped along with the sale price to list price ratio.
• We are just now moving into our selling season and from the looks of it we could be moving into a good selling season.  There are buyers starting to come out and they are looking to buy.
• And one last observation……..If you bought your home in 1998 and have held on to it and maintained it and made your monthly mortgage payments, the average equity increase is $65,302 or approximately $6,000 per year.

Even in the face of a declining economy we have been able to sustain a conservative growth in our housing prices and enjoy a long term return on our homes here in St Charles County MO and Ofallon MO has helped to lead the way.

The real estate market in Saint Charles County Missouri may not be what it was just a few short years ago but, we are moving forward.  If you are in the market to purchase a home, this is a GREAT time to buy!  Not to mention a wonderful place to live.  Three cities in St Charles County MO, St Charles, St Peters and O’Fallon, are in the Money Magazine top 100 small cities to live in the USA.  So, if you are looking for a GREAT place to call home check out St Charles County MO to see what it has to offer.

If you are ready to find your piece of America, your DREAM home, then give me a call today at 314-954-6775 and be in your new home before the Christmas holidays.  If you are relocating to the St. Charles County MO area, I can help you in your search for that new home too.

All data used is per the Mid America Regional Information Service (MLS) on 3/12/09 and is deemed reliable but not guaranteed.