Lafayette Square Housing Report - 2009 Condominium and Loft Sales

By
Real Estate Agent with PREA Signature Realty - www.preasignaturerealty.com

LAFAYETTE SQUARE HOUSING REPORT - 2009 CONDO SALES

Interested in purchasing or selling a condominium in Lafayette Square?  Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or send an e-mail to Ryan@PREASignatureRealty.com.  Or, visit our website at www.PREASignatureRealty.com or our blog at www.LafayetteReport.com.

HISTORICAL TRENDS

The Lafayette Square housing market as a whole continues to outperform compared to trends in the St. Louis City and St. Louis Metropolitan Statistical Area.  Despite this good news, condominium sales in Lafayette Square remain flat compared to 2009.  Here are some general comments about trends in the Lafayette Square housing market relating to condominium sales:

  • Condominium sales in Lafayette Square remain flat with 2009 condominium sales to be slightly above the sales volume for 2008 condominium sales.
  • The average sales price for condominiums in Lafayette Square in 2009 fell 12% in year to date figures compared to 2008.
  • The average per square foot price for condominiums sold in Lafayette Square remained flat from at $125 per square foot compared to $128 per square foot.
  • The sales price to list price ratio for condo sold in Lafayette Square remained constant at historical levels of approximately 96% of list price.
  • The average number of days on market for condominium sales in Lafayette Square spiked from 182 days in 2008 to 289 days in 2009.
  • It is unclear what impact new construction sales in Lafayette Square has had on the overall condo statistics.  The bulk of the new construction sales at Vail Place, Lafayette Walk, 1801 Park Avenue, Eden Lofts, and the Abbey on the Park occurred in 2005 and 2006.  Developers in Lafayette Square report new construction sales in different manners with some sales not listed in MLS and other sales included in MLS but reported as withdrawn as opposed to sold.

 

  Lafayette Square - 2009 Condo Market Report

 

 

Lafayette Square - 2009 Condo Market Report

Lafayette Square - 2009 Condo Market Report

Lafayette Square - 2009 Condo Market Report

Lafayette Square - 2009 Condo Market Report

2009 MARKET DATA

Pricing - Key to Sales and Days on Market

The current 2009 market data for sales of condominiums in Lafayette Square reinforces the importance of pricing.  Key statistics show that well-priced homes sell at 95% of list price in 60 days or less.  Improperly priced condominiums tend to languish selling at a 13-21% discount off of the original list price.

 Days on Market  0-30 Days   31-60 Days   61-90 Days   91-120 Days   120+ Days 
Sold Listings   3    1    2    1    6 

Percentage of Sales

  23.08    7.69    15.38    7.69    46.15 
Sales Price -List Price Ratio   97.52    96.64    91.96    87.71    79.45 

Average Sales Prices - $150,000 to $200,000 Market Shows Strength

The current 2009 market data for sales of condominiums in Lafayette Square show that the great number of sales in the $150,000 to $200,000 range with the average price at $158,000 and the median price at $155,000.

Summary Price Information
Minimum  $84,000 Maximum  $252,350
Average  $157,573 Median  $155,000

  Sold
    #Units 13          
    Dollar Value $2,048,450          
    Average List Price $164,399          
    Average Sold Price $157,573          
    Average Market Time 228          
    Average Square Feet 1054          
    % of List Price 95.85          
 

Selling Price Range  Quantity Average DOM  
$80,000 thru $89,999 1 329  
$90,000 thru $99,999 1 89  
$100,000 thru $119,999 1 74  
$120,000 thru $139,999 1 641  
$140,000 thru $159,999 4 197  
$160,000 thru $179,999 3 60  
$200,000 thru $249,999 1 149  
$250,000 thru $299,999 1 714  
  13 228

Cooperating Brokers

The current 2009 market data for condominium sales in Lafayette Square suggests that the majority of condominium sales in Lafayette Square are procured through cooperating brokers.

  • Cooperative Sales   12 Sales   $1,923,450   92%
  • In House Sales           1 Sale         $125,000     8%

Brokerage Rankings - By Sales Dollar Volume

Lafayette Square - 2009 Condo Market Report

Brokerage Rankings - By Transactions

Lafayette Square - 2009 Condo Market Report

CONDOS AND LOFTS CURRENTLY AVAILABLE FOR SALE IN LAFAYETTE SQUARE 

Currently, there are 29 condominiums listed for sale in Lafayette Square totaling $6.63 million dollars.  The average sales price is $229,000.00.  To view a list of condominiums currently for sale in Lafayette Square, click on View Listings - Lafayette Square Condominiums for Sale.

EDEN LOFTS - 1720 Chouteau

Lease Option and Lease Purchase Available

Unit Address Current Price HOA Fees Sq.Ft. # BR # BA
ED102  1720 Chouteau $179,000 $180 1215 2 2
ED307  1720 Chouteau $180,000 $165 1129 2 2
ED505  1720 Chouteau $175,000 $155 1036 2 2
ED404  1720 Chouteau $166,000 $160 1093 2 2
ED405  1720 Chouteau $166,000 $155 1036 2 2
ED504  1720 Chouteau $175,000 $160 1093 2 2
ED310  1720 Chouteau $176,000 $160 1091 2 2
ED105  1720 Chouteau $193,000 $185 1268 2 2
ED107  1720 Chouteau $200,000 $205 1386 2 2
ED207  1720 Chouteau $200,000 $205 1394 2 2
ED204  1720 Chouteau $200,000 $205 1396 2 2
ED109  1720 Chouteau $200,000 $245 1631 1 1.5

UNION CLUB - 2340 Lafayette

Lease Option and Lease Purchase Available

Unit Address Current Price HOA Fees Sq.Ft. # BR # BA
1A 2340 Lafayette $200,000 $185.25 1235 2 2
1B 2340 Lafayette $200,000 $176.70 1178 2 2
1C 2340 Lafayette $223,011 $187.20 1248 2 2
1D 2340 Lafayette $200,000 $191.70 1278 2 2
1E 2340 Lafayette $263,867 $200.40 1336 2 2
1F 2340 Lafayette $240,166 $182.40 1216 2 2
1G 2340 Lafayette $260,312 $197.70 1318 2 2
1H 2340 Lafayette $259,127 $196.80 1312 2 2
1I 2340 Lafayette $257,349 $195.45 1303 2 2
1J 2340 Lafayette $200,000 $183.30 1222 2 2
1K 2340 Lafayette $223,011 $187.20 1248 2 2
1L 2340 Lafayette $200,000 $176.70 1178 2 2
1M 2340 Lafayette $200,000 $179.40 1196 2 2
2A 2340 Lafayette $244,530 $185.25 1235 2 2
2B 2340 Lafayette $221,582 $176.70 1178 2 2
2C 2340 Lafayette $234,749 $187.20 1248 2 2
2D 2340 Lafayette $253,044 $191.70 1278 2 2
2E 2340 Lafayette $277,754 $200.40 1336 2 2
2F 2340 Lafayette $252,806 $182.40 1216 2 2
2G 2340 Lafayette $274,012 $197.70 1318 2 2
2H 2340 Lafayette $272,765 $196.80 1312 2 2
2I 2340 Lafayette $270,894 $195.45 1303 2 2
2J 2340 Lafayette $241,956 $183.30 1222 2 2
2K 2340 Lafayette $234,749 $187.20 1248 2 2
2L 2340 Lafayette $221,582 $176.70 1178 2 2
2M 2340 Lafayette $236,808 $179.40 1196 2 2
3A 2340 Lafayette $256,757 $185.25 1235 2 2
3B 2340 Lafayette $232,661 $176.70 1178 2 2
3C 2340 Lafayette $246,486 $187.20 1248 2 2
3D 2340 Lafayette $265,696 $191.70 1278 2 2
3E 2340 Lafayette $291,642 $200.40 1336 2 2
3F 2340 Lafayette $265,447 $182.40 1216 2 2
3G 2340 Lafayette $287,713 $197.70 1318 2 2
3H 2340 Lafayette $286,403 $196.80 1312 2 2
3I 2340 Lafayette $284,438 $195.45 1303 2 2
3J 2340 Lafayette $254,054 $183.30 1222 2 2
3K 2340 Lafayette $246,486 $187.20 1248 2 2
3L 2340 Lafayette $232,661 $176.70 1178 2 2
3M 2340 Lafayette $248,648 $179.40 1196 2 2

MISSISSIPPI PLACE - 1618 Mississippi

Unit Address Model Current Price HOA Fees Sq.Ft. # BR # BA
MP-1906K  1906 Kennett Carriage House 1 $249,500 $150 1237 1 1.5
MP-1907L  1907 Lafayette Carriage House 2 $380,000 $150 1627 1 1

THE GEORGIAN - 1515 Lafayette

Condo Fee includes insurance, sewer, water, gas, HVAC electric, and trash.

Unit Address Model Wing Current Price HOA Fees Sq.Ft. # BR # BA
GA111  1515 Lafayette Buckingham III  East  $233,000 $415.65 1553 2 2
GA204  1515 Lafayette Kensington  West  $200,000 $346.38 1356 2 2
GA307  1515 Lafayette Walpole  West  $200,000 $346.38 1340 2 2
GA404  1515 Lafayette Kensington  West  $200,000 $346.38 1373 2 2
GA407  1515 Lafayette Walpole  West  $200,000 $346.38 1359 2 2
GA419  1515 Lafayette Cambridge  Center  $185,000 $357.93 1266 2 2
GA501  1515 Lafayette Cornwall  Center  $243,000 $357.93 1620 2 2
GA519  1515 Lafayette Cambridge  Center  $185,000 $357.93 1266 2 2
GA607  1515 Lafayette Walpole II  West  $217,000 $357.93 1442 2 2
GA609  1515 Lafayette Hanover  Center  $170,000 $305.97 1112 2 2
GA618  1515 Lafayette Repton  Center  $200,000 $334.83 1246 2 2
GA619  1515 Lafayette Cambridge  Center  $195,000 $357.93 1266 2 2
 

SALES BROCHURES - NEW CONDOMINIUMS IN LAFAYETTE SQUARE

 

 

Interested in purchasing or selling a condominium in Lafayette Square?  Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or send an e-mail to Ryan@PREASignatureRealty.com.  Or, visit our website at www.PREASignatureRealty.com or our blog at www.LafayetteReport.com.

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________________________________________________________________________________________________

PREA SIGNATURE REALTY

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PREA Signature Realty is a full service brokerage located at 1709 Park Avenue in the Lafayette Square neighborhood of the City of St. Louis.  PREA Signature proudly serves the following city neighborhoods:  Lafayette Square, Soulard, Benton Park, Benton Park West, Downtown Loft District, Forest Park Southwest, Central West End, Tower Grove East, Tower Grove South, Compton Heights, Shaw, The Hill, Dogtown, Carondelet, Holly Hills, St. Louis Hills, Dutchtown, and the Other Historic Neighborhoods of the City of Saint Louis, Missouri. 

The opinions expressed herein represent the opinions of the author only and do not reflect the opinions of PREA Signature Realty.  All photos and written content were produced by PREA Signature Realty.  All Rights Reserved - PREA Signature Realty (2009).  This content may not be reproduced or reprinted, except for Active Rain re-blogging, without express written permission of PREA Signature Realty.

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com

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