Chesterfield MO Condo Market Report - August 2011

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Real Estate Agent with Coldwell Banker Gundaker-St. Louis, MO
https://activerain.com/droplet/krB

Chesterfield, MO Condo Market Report - August 2011

Market Profile & Trends Overview


Chesterfield MO Condo Sale Market Report Aug 2011

Property Sales


August Property sales were 17, up 30.8% from 13 in August of 2010 and 21.4% higher than the 14 sales last month. August 2011 sales were at their highest level compared to August of 2010 and 2009. August YTD sales of 107 are running 13.7% behind last year's year-to-date sales of 124.


Prices


The Median Sales Price in August was $214,500, down 33.4% from $322,000 in August of 2010 and up 27.3% from $168,450 last month. The Average Sales Price in August was $212,526, down 31.2% from $308,923 in August of 2010 and up 2.2% from $207,886 last month. August 2011 ASP was at the lowest level compared to August of 2010 and 2009.


Inventory & MSI

The Total Inventory of Properties available for sale as of August was 162, equal to 162 last month and down 24.3% from 214 in August of last year. August 2011 Inventory was at its lowest level compared with August of 2010 and 2009.  A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The August 2011
MSI of 9.5 months was at its lowest level compared with August of 2010 and 2009.



Market Time

The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for August was 120, up 0.8% from 119 days last month and down 33.3% from 180 days in August of last year. The August 2011 DOM was at a mid level compared with August of 2010 and 2009.


Selling Price per Square Foot

The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The August 2011 Selling Price per Square Foot of $118 was up 11.6% from $106 last month and down 8.4% from 129 in August of last year.


Selling Price vs Original Listing Price

The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The August 2011 Selling Price vs Original List Price of 93.3% was down from 96.2% last month and down from 95.4% in August of last year.

Chesterfield MO Condo Sale Market Report Aug 2011

Inventory / New Listings / Sales


This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in August 2011 was 34, up 47.8% from 23 last month and down 2.9% from 35 in August of last year.

Posted by

               

Linda

Linda Graves Arnold, ABR, CRS, GRI, e-PRO
Coldwell Banker Gundaker
"Bringing Families Home"
Cell phone:  314-422-2762
Office:  636-391-1122
email:  Linda@LindaandJim.com
website:  www.LindaandJim.com

 

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Rainmaker
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Anthony Stokes-Pereira
Better Homes and Gardens Rand Realty - Nanuet, NY
Realtor

Great information for home buyers and sellers, I thank you for sharing with us, good luck!

Sep 29, 2011 01:21 PM #1
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Rainmaker
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Linda Graves Arnold

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