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Tower Grove Average Sales
South City Home ValuesYou need the latest version of the Macromedia Flash Player.Download the free Flash Player now!
More Tower Grove South Home Values The real estate website Zillow has been making overtures to realtors in the past few years about using its information in marketing. I'm skeptical, mainly because of the accuracy of the data. In a suburban area that has been built within the past 20 years, their "Zestimates" may carry more weight, as every house looks very similar and differences are marginal, but in the city, it takes a knowledgable source to perform the comparative sales approach to estimate value. One other thing I've hated as the real estate market has slowed down over the past few years is the use of over-generalizations. The above graph is a great example of everything that bothers me. It does show trends based on average pricing, which can be useful, but often times can be mis-interpreted. For example, the drop in average pricing in 2009 for the Tower Grove neigbhorhood, as in many other areas, wasn't necesarrily due to a drop in value of homes, but rather surge in low value distressed home sales such as foreclosures or other investment homes. On ... more

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