St Charles County Mo 2008 Third Quarter Real Estate Update

By
Real Estate Agent with Keller Williams Realty Chesterfield

                         

St Charles County Mo 2008 Third Quarter Real Estate Update

 

There may be those that believe the real estate market in St Charles County MO is all but dead.  Let me assure you that the market may be soft and the economy has had an attack of hiccups but, it is far from dead.  There are buyers that are buying and sellers that are selling.  We may not be doing it like we were in 2003, 2004 or 2005 but we are still selling real estate in St Charles County, MO.

 

We started the year of 2008 with 13 months of inventory on both the residential single family market and the condo/villa market.  As of the end of September 2008 we have approx. 7 months of combined inventory. This sounds to me like we are moving forward, maybe at a snails pace but we are moving in the right direction.

 

Days on the market are up from 80 days to 93 days in the residential single family market and up from 78 days to 100 days.  Homes that are right priced are moving are selling.  If you are a seller and are experiencing long days on the market now is the time to adjust your pricing it is not the time to be holding on to a wrong price and subject yourself to a low offer that could be offensive and cost you a possible buyer.  You see days on market will have that effect on buyers.

 

Keep that in mind if you're shopping for a home. Homes priced correctly and in good condition are selling... and in some cases they're selling quickly.

 

The average sales price for residential single family properties ending September 30, 2008 was $212,165 and for condo/villa properties was $150,383.  In comparing 2008 to 2007 we are seeing average home sale price declines in 2008 for residential properties and an increase in the average sale price for condo/villa properties.  The traditional summer selling season did give us an increase of home sales but we still have a large selection of homes throughout all of St Charles County.  So if you have been thinking of buying now is a GREAT time with the price and selection never being better.

 

The real estate market in St Charles County, MO may not be what it was just a couple of years ago but, we are moving forward. If you're in the market to purchase a home, this is a great time to buy.  You could be in your new home before the Thanksgiving or Christmas holidays building your very special memories.

 

So, if you are ready to find your piece of America, your Dream Home then give me a call at 314-954-6775 today. Or, if you are relocating to the St. Charles County area I can help you in your search for that new home.

 

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Don Rogers is a licensed REALTOR® in Missouri.  I specialize in St. Charles County Missouri and have called O Fallon MO my home since 1993.  If you are looking to buy or sell or you are relocating to the area and would like information about the St Charles County MO area do not hesitate to give me a call at 314-954-6775 or if you would prefer to send me an email.

 

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Rainer
2,568
Charlie Holloway
Equity Land Title - O'Fallon, MO

Well said sir

Oct 08, 2008 02:39 AM #1
Rainmaker
631,147
Don Rogers
Keller Williams Realty Chesterfield - O'Fallon, MO
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

Charlie,

I appreciate you stopping by and being the first to comment.  It appears that we had a good 3rd quarter and just need to continue to improve over the last quarter.

Oct 08, 2008 03:42 AM #2
Rainer
57,817
Lori Franks
Real Estate Consultant - Brookings, OR
Brookings, Oregon

Don- More encouraging news...I like positive reporting! Did you hear the report today that nationwide home sales were up 7.4% in August?

Oct 08, 2008 09:14 AM #3
Ambassador
1,726,157
Richard Weisser
Richard Weisser Realty - Newnan, GA
Richard Weisser Retired Real Estate Professional

Don...

Good to read this positive post about your market! -Richard Weisser

Oct 08, 2008 09:34 AM #4
Rainmaker
631,147
Don Rogers
Keller Williams Realty Chesterfield - O'Fallon, MO
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

Lori,

I did hear the news about the home sales and you are right it is very encouraging and I hope that the Sept. report will be that way too.

Oct 08, 2008 09:52 AM #5
Rainmaker
631,147
Don Rogers
Keller Williams Realty Chesterfield - O'Fallon, MO
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

Richard,

I thought the same thing and look forward to another good report next month.

Oct 08, 2008 09:53 AM #6
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