There may be those
that believe the real estate market in
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
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.
you are ready to find your piece of