Over the last few days I've reported on market statistics for single family homes and condo sales for the first half of 2008.
One more piece of the puzzle that should be examined is how long it is taking properties to sell this year. It's also important to see how the length of time to sell a property affects the price reduction that sellers end up making in order to get it sold.
| Single Family Homes | |
| | |
| DOM | % Sold | Sale Price/Final List Price |
| 0-30 | 28.0% | 97.0% |
| 31-60 | 20.0% | 95.6% |
| 61-90 | 14.3% | 94.8% |
| 91-120 | 10.9% | 95.0% |
| 121+ | 26.9% | 93.6% |
| | |
| Condos | | |
| | |
| DOM | % Sold | Sale Price/Final List Price |
| 0-30 | 20.7% | 98.3% |
| 31-60 | 18.4% | 96.6% |
| 61-90 | 14.7% | 96.9% |
| 91-120 | 8.7% | 96.1% |
| 121+ | 37.5% | 96.7% |
DOM = days on market from list to pending status
NOTE: The data above includes properties listed for sale in the MLS (MARIS) in St. Louis City, St. Louis County and St. Charles County. The system does not allow me to determine the % price reduction from original list price to final sale price. The majority of properties that are on the market for over 30 days have had one or more price reductions in addition to the price drop listed in the statistics above.
Conclusions:
Even though we are in a slow housing market, 28% of homes and 20% of condos are still selling in 30 days or less. Almost 1/2 of homes and a little over 1/3 of condos are selling in 60 days or less.
If you are looking for a reason to price a property based on the current market rather than trying for a higher price for a little while, just take a look at how the sale price goes down the longer a property is on the market.
Homeowners that sell in 1 month or less average 97% off list price, and condo owners do even better at 98.3% off list price. As time goes on, condo owners do better than single family homeowners with condos averaging around 4% off list price whether it takes 2 months or 6 months to sell. In comparison, single family home sellers end up coming down more the longer they are on the market.
Don't forget that properties that have been on the market for months normally have had multiple price reductions. The bottom line is that aggressive starting prices can actually result in a much lower price in the end.
For related posts, see also:
How Do You Get a Home to Sell in 2 Days in a Buyer's Market?
How to Make your Home be the Next One SOLD When Only 22 Sell per Day
Don't Be Surprised if it Takes a Few Months to Sell your Home in Today's Market
And don't miss the most Popular Posts.
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Compared to single family homes, the condo market is much more consistent across the 3 counties that make up the majority of the St. Louis region.
Though plenty of single family homes have been selling under $100,000, the numbers are dramatically lower for dirt cheap condos. Regardless of the county, the majority of condos are selling between $100,000 - $200,000.
Take a look below to see the 2008 condo sales for the 3 major counties that make up the St. Louis region. The charts below include closed sales from January - June 2008 that were listed in the MLS. The data is obtained through MARIS and deemed reliable but not guaranteed.
St. Louis City:
9% of condos sold for under $100,000
53% of sales were priced between $100,000 - $200,000 and 25% of sales were between $200,000 - $300,000
86% were priced under $300,000
St. Louis County:
- 20% of condos sold for under $100,000
52% of sales were priced between $100,000 - $200,000 and 15% of sales were between $200,000 - $300,000
- 87% were priced under $300,000
St. Charles County:
15% of condos sold for under $100,000
63% of sales were priced between $100,000 - $200,000 and 18% of sales were between $200,000 - $300,000
- 96% were priced under $300,000
The bottom line:
There aren't dramatic differences between the 3 counties for condo sale prices. St. Louis City does have a higher percentage selling between $300,000 to $600,000 than the other two counties, and St. Louis County does the best at condos priced over $600,000.
The most dramatic difference is not in condo sales by county, but between condo and single family home sales. With only 1309 closed condo sales across all 3 counties, there is very low demand for condos compared to single family homes (with 9027 closed sales). With only 13% of closed sales in the condo category, it's simply much harder to sell a condo than it is a single family home.
Take a look at Part 1 for more detail on single family home sales and check back for Part 3 of this series on how long it is taking for properties to sell and the percentage off list price for closed sales.
For related posts, see also:
CWE Condo Market Trends for 2007-2008
St. Louis City Condo Sales Slow Down
Condos are Harder to Sell than Single Family Homes in a Down Market
And don't miss the most Popular Posts.
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This year lower priced properties aimed at buyers making conservative spending choices and first time buyers are selling much more easily than higher priced properties.
Take a look below to see the differences in 2008 single family home sales for the 3 major counties that make up the St. Louis region. The charts below include closed sales from January - June 2008 that were listed in the MLS. The data is obtained through MARIS and deemed reliable but not guaranteed.
There isn't much of a demand in any of the counties for high priced homes, but sellers have better odds at finding a buyer in St. Louis County than either the city or St. Charles.
St. Louis City:
53% of homes sold for under $100,000
85% of sales were priced under $200,000
95% were priced under $300,000
St. Louis County:
an equal number of homes sold under $100,000 and between $100,000 - $200,000 (32% each)
another 17% of homes sold from $200,000 - $300,000
81% of the homes sold under $300,000
St. Charles County:
3% of sales were under $100,000 (dramatically lower than both other counties)
52% of homes sold between $100,000 - $200,000 and another 31% sold between $200,000 - $300,000
86% of the homes sold under $300,000
What does all this mean?
If you are trying to sell a home and it is priced above or below the average sale prices for your county, there just aren't a lot of buyers. You need to consider pricing your home aggressively if you hope to get it sold. If you don't need to move, it might be smarter to stay put for a year or two until sales pick up in your price range.
If you are trying to buy a home, don't be surprised if you end up competing with other buyers if you are looking at the same price range as the majority of buyers. If you are in a position to purchase a higher priced home, you should be able to find a great deal.
Check back for Part 2 & 3 of this series covering condo sale prices, how long it is taking for properties to sell and the percentage off list price for closed sales.
For related posts, see also:
PMI Report - St. Louis Housing Market at Low Risk for Price Declines
Over 99% of Homes are NOT in Foreclosure
Low Consumer Confidence Affects Buyer Behavior
What is the Appreciation Rate for Homes in St. Louis?
And don't miss the most Popular Posts.
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In today's market, buyers are choosing to be conservative as they decide what to spend on their next home. However, buyers often forget to consider the impact that taxes can have on their final costs.
I've often been asked by buyers how much their taxes will be for a particular home. Unfortunately, determining how much the taxes will be for any given property in St. Louis County is a hard question to answer. Your taxes will depend on a number of factors including:
library districts (there are 7)
sewer districts (there are 25)
fire districts (there are 24)
The two biggest factors affecting your total tax bill are the school district and municipality.
St. Louis County has 24 school districts, and the tax rates vary dramatically.
School District taxes rank order (high to low):
Wellston
Riverview Gardens
Normandy
Hazelwood
Webster Groves
Jennings
Meramec Valley
Affton
Ferguson-Florissant
Valley Park
Hancock Place
University City
Rockwood
Kirkwood
Ritenour
Maplewood - Richmond Heights
Pattonville
Clayton
Parkway
Mehlville
Bayless
Lindbergh
Ladue
Brentwood
*** all taxes reported in this article are based on 2007 tax rates
Plus, there are 78 municipalities that have a city tax. If you want to live where the municipality doesn't charge you an additional tax, you might consider living in unincorporated St. Louis County or one of these 13 municipalities that have no additional city taxes:
Ballwin
Bella Villa
Champ
Des Peres
Fenton
Florissant
Green Park
Maryland Heights
Moline Acres
Norwood Court
Town & Country
Wilbur Park
Wildwood
Do the different tax rates really make a difference on the final tax bill?
The answer is YES.
Let's look at a real world example. Over the years I've worked with a number of buyers that are interested in living in either Kirkwood or Webster Groves. The taxes for both the school district and municipality are higher in Webster Groves than in Kirkwood. But, what do you do if you really want your kids to attend Webster Groves schools or just can't find a house you like in Kirkwood. You could opt for one of the municipalities in the WG school district with lower city taxes (Rock Hill or Warson Woods).
Municipal and school taxes per $100 assessed:
City of Kirkwood & Kirkwood school district = 4.64
City of Webster Groves & Webster Groves school district = 5.37
City of Warson Woods & Webster Groves school district = 4.90
If you bought a home and it was assessed at $200,000, your tax would be:
Kirkwood - $1,763.20
Webster Groves - $2040.60
Warson Woods - $1,862.00
As the price goes up, the gap between these areas becomes even bigger.
****The tax listed above is for just the city and school district taxes, and does not represent the total tax bill.
I'm not telling you to avoid buying a home in Webster Groves, or any of the other high tax areas in town. I just want to make sure that you know what you are getting yourself into when you decide to make an offer on a property.
For the complete St. Louis County tax rates, click here (give it a minute to open...it's a big file).
For related posts, see also:
Buyers Should Demand a Thorough Pricing Analysis from their Agent Before they Make an Offer on a Home
Smart Buyers Know that Selecting a Home to Purchase Involves More than Simply Deciding which You Like Better
Buyer Tips - Make Sure You Have a Clear Survey When You Buy Your Next Home
Buyers Need to Check the Flood Zone Status of a Home Before Making an Offer
And don't miss the most Popular Posts.
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A few days ago a reader asked me if I could provide some additional market information for the condo market in the Central West End. I'm a big believer in looking at as much data as you can before making a decision regarding buying or selling, so I was happy to oblige.
Overview:
Condo sales in this corridor have been consistently down in 2008 compared to 2007.
Closed sales tend to peak in June with fewer sales each month beginning in July.
A high percentage of properties selling in the CWE corridor are new construction or total rehabs. During 2007, the average % sale price to final list price shot up on the months that had a high percentage of new construction closings. However, that trend did not continue in 2008 suggesting that builders/developers are much more willing to negotiate this year than in the past.
Average days on market until a property gets an accepted contract has been higher throughout 2008 than 2007 (except for February). Expect it to take longer to sell than in the past if you have a property to sell.
In 2007, properties took the longest to sell in April and July - October. In the past, properties sold the quickest during months when new BJC residents moved to the area and at the end of college semesters. It's not surprising that this market is so influenced by residency schedules and graduation with both BJC, Wash U and SLU all being major contributors to residents.
The gap between the average sale price and median price is largest in the months that had a high percentage of new construction/rehabs sold. These months are also the same ones that have the highest average prices. With resale buyers in 2008 spending less, sellers with higher priced resale properties will have a tougher time selling in this market then resale sellers with lower to moderate priced properties.
If you are considering buying a CWE condo, it is a good time to buy. Carefully evaluate the sale prices of comparable properties and don't hesitate to negotiate for a lower price even if you want to buy a rehab. With most sales taking about 30 days to close, a purchase made now would likely close in August or September. The numbers are in your favor, so go find a good deal.
The data below is based on the same map boundaries that I use for my Monthly Market Report, which may not exactly match official boundaries for the Central West End neighborhood. My map is intended to capture the sales trends for the CWE and nearby areas. The data is based on information provided by Mid America Regional Information Systems (MARIS) and is deemed reliable but not guaranteed.
For related posts, see also:
St. Louis City Condo Sales Slow Down
Condos are Harder to Sell than Single Family Homes in a Down Market
Low Consumer Confidence Affects Buyer Behavior
When Exactly Does the Spring Market Start and How Long Does it Last?
And don't miss the most Popular Posts and City Monthly Market Reports.
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St. Louis Magazine recently put together a great list of 101 things that every St. Louisan should do. With gas prices so high this year, maybe it's time to take a vacation in your own backyard.
I've whittled down their big list to a much shorter one to help get you started.
Top 10 Things I've Actually Done:
(In order based on the St. Louis Mag article, not order of preference)
1. Steinberg Skating Rink - Nothing compares to bundling up on a clear winter day and heading to this outdoor staking rink located in Forest Park. Don't forget to order a cup of hot cocoa when you are ready for a warm up break.
2. Mount Pleasant Winery - Missouri may not be known for our wine, but you can't top an afternoon at Mount Pleasant in nearby Augusta. Only a short drive from St. Charles, bring a picnic lunch with you and enjoy an afternoon with friends on their large patio with great scenery and fun live music.
3. Great Forest Park Balloon Race - Just about every St. Louisan has looked up at the sky and commented on the line of hot air balloons staggered over our horizon every September. I've never done what St. Louis Magazine suggests (getting to ride in one of them), but I highly recommend joining the crowds for the Balloon Glow the evening before the race.
4. Queeny Park - St. Louis has tons of great parks, but Queeny Park has a playground that is one of a kind. If you have young kids, this one needs to be on your list.
5. The Magic House - Another must for families with young kids. Unlike some of our other family centered venues, The Magic House has an area specially designed for the little kids, plus tons of hands on exhibits for kids of all ages.
6. The Fabulous Fox - Enjoy an evening out at this grand theater in Midtown (near St. Louis University) with musical productions that rival Broadway.
7. Visit the Central West End - Stroll down the streets lined with impressive historic homes and pick from the many restaurants with patio dining. My favorites are Kopperman's for breakfast and Bar Italia for dinner.
8. City Museum - This one really should be #1 in my opinion. There just isn't anything like the City Museum anywhere outside of St. Louis. This massive indoor-outdoor playground made from recycled industrial parts is an adventure. Try something different and check it out in the evenings. They are open until 1 am on Fridays and Saturdays with adult refreshments available at the Log Cabin Bar overlooking the outdoor playground. A word of caution, this one really isn't for the little ones. Preschoolers may find it a bit much to handle.
9. Lemp Mansion Restaurant & Inn - I've never spent the night here, but can attest to attending a great Halloween bash in this haunted mansion. Make sure to take a guided tour where you can hear all about the history of the mansion (it was originally a brewery), the family that lived there and the resident ghosts.
10. Current River Canoeing - Floating down one of our nearby rivers on a canoe, raft or tube is one of the best ways to spend a hot summer day. The Current River is the best in my opinion, but with a 3 hour drive from St. Louis, I've also been known to spend time on the Jack's Fork, Black River, Huzzah Creek and Meramec River. All are a bit closer and work well for either a day trip or an overnight campout. Keep in mind that in Missouri we call them float trips for a reason. These aren't about paddling wildly all day or maneuvering Colorado style rapids. Our river trips are more about filling the boat with a cooler of beverages, then relaxing with friends as you say hello to everyone else that you'll meet down the river. Looking for a peaceful quiet float, weekdays might be your best option.
Top 5 Things for My 'To Do' List:
These have been on my To Do list for awhile, and am somewhat embarrassed to admit that I still haven't done them!
1. Downtown Gallery Walk
2. Casa Loma Ballroom
3. Pere Marquette Lodge
4. Opera Theater of St. Louis
5. Crown Candy Kitchen
What would make your list?
For related posts, see also:
Top 10 St. Louis Summer Activities that You Can Do for Free
St. Louis Summer Free Concert Schedule
Vote the for Best Place to See Fireworks in St. Louis
10 Things You Should Know Before Moving to St. Louis
And don't miss the most Popular Posts.
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A couple of days ago I joined the conversation at Trulia on how a listing agent should react when receiving a call from an unrepresented buyer that wants to see a listing.
I'll be honest. I'm shocked that there are so many listing agents that will ask intrusive questions and make a potential buyer jump through hoops before showing them a house.
If you called a salesperson about a product and was questioned about your ability to buy the product before you even saw it, wouldn't you just get ticked off and move on? I would.
It would be like making a bad first impression on the phone before a first date. There's a good chance that you might not ever make it to that first date...even if you looked great on paper.
Some of the other agents that commented at Trulia felt it was an intrusion on the seller's time to have them get the house ready so it could be shown to a buyer that might not have a pre-approval yet. Other agents talked about how it was a waste of their time to show a house to someone that might not be able to get a mortgage.
Here's my position.
When I agree to take on a listing, it is MY JOB to do everything I can to try to get the house sold. That includes getting as many buyers through the house as possible. As a seller, YOUR JOB is to make your house look as appealing as possible (that means clean and uncluttered) and to do your best to let potential buyers come through when they want to see it.
I spent 5 years working only with buyers when I started in real estate. I understand buyers. They need time to develop a relationship with an agent. To decide that they can trust this person and are willing to share personal information with them. I believe in spending a few hours 1 or 2 times looking at homes with my potential buyer clients before asking them to do things for me. Like provide me with a copy of a pre-approval or sign a buyer's agency agreement. It's not right for me to demand they commit themselves to working with me or sharing very personal information before they've had a chance to see how I conduct business.
I'm not going to risk possibly losing a sale because I got too pushy too fast on the phone with a sign caller.
On the other hand, there are things that I do consider an intrusion on my listing client's time. The big one is open houses. Seriously...why should my sellers spend the time and energy getting their house ready and then clearing out for a few hours on a Sunday so that curious neighbors can come check out their decorating and price. The vast majority of people that go to open houses aren't ready buyers. They are neighbors or people that just happened to drive by and see a sign. They have no idea if your house has the features that meet their minimum criteria, or even if you are in the right price range. But they saw a a sign and have been thinking of buying a house, so maybe they should check it out.
And if there is someone that is a ready buyer that sees the sign or ad...don't worry, they'll call me or their agent and schedule an appointment.
I won't be turning them away.
For related posts, see also:
Agent Open Houses - A Thing of the Past
Avoid the Top 10 Mistakes in MLS Listings
A Bad Resume Can Prevent Your Home Listing from Selling
Choosing an Agent to Sell Your Home - Does the Brokerage Really Matter?
And don't miss the most Popular Posts.
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I just read a report from Jay Thompson at The Phoenix Real Estate Guy that highlighted the PMI Summer 2008 report on the housing market. In contrast to Phoenix which has a 79.6% chance for lower prices in 2 years (according to PMI), the report claims that St. Louis has only a 1% chance of lower prices.
Let me say that again...St. Louis has only a 1% chance that housing prices will be lower in 2 years than they are now. That doesn't actually sound like a bad housing market.
The other numbers for St. Louis include:
Decreasing risk for downward prices - our 1% rate was down from 1.8% for lower prices when measured in the fourth quarter of 2007
Low price volatility at only 2.9% - lower volatility means more stable prices
Homes are appreciating - even though the 1.7% annual appreciation rate sounds really low, home prices are increasing (in comparison to many other areas that still have declining prices)
Homes are 10% more affordable than they were in 1995 - the affordability index is based upon per capita income, interest rates and appreciation rates
PMI's report shows the top 15 markets at risk for lower prices in 2 years are all in California and Florida, plus Las Vegas and the Phoenix area. With over 50% of the top 50 markets (27 to be exact) having less than a 10% chance of having lower prices in 2 years, it's time that buyers in St. Louis start buying again.
According to this report, homes in St. Louis are starting to appreciate. If you want to buy while the market is at or near the bottom, you better hurry up and get moving or you'll look back and find that you missed it.
For related posts, see also:
Over 99% of Homes are NOT in Foreclosure
St. Louis City Condo Sales Slow Down
Housing Inventory Has Been Dropping - A Good Sign for the Real Estate Market
What is the Appreciation Rate for Homes in St. Louis?
And don't miss the most Popular Posts.
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What is wrong with this picture?
Hazelwood home listed at $144,500
I just stumbled upon a new listing that is in the same subdivision as one of the homes that I have listed. The reason that I say that I stumbled on it is because the house is listed in the wrong high school boundary. Yes, I know it is a cliche that all we care about in St. Louis is which high school you went to. But, the reality is that many agents and buyers search for homes by high school in St. Louis. It's just the easiest way to make sure that you pick up every home in an area regardless of whether the address was put in as the municipality (ie Hazelwood) or St. Louis.
So, by listing this home as in Hazelwood Central rather than Hazelwood West, they are potentially losing plenty of buyers that want to keep their kids in the same schools that they currently attend.
Then, to make it even worse, this is the primary picture listed (the one that will show up in the summary results when you run a search).
And here is the second shot, which you only get if you actually click on the detailed info links.
The rest of the pictures don't get any better.
I guess it is lucky for my clients. I stopped by this house yesterday to take a look. It's important for me to konw what is competing against my listing.The house is being sold as-is, needs a ton of work and is overpriced.
But even if it had been spectacular, not many buyers would ever see the inside. Since you have to drive past my listing to see it, I don't expect that most of the buyers looking at my listing will even know about it. I have a good shot at selling my listing to the couple that came back for a second showing yesterday. Maybe the owners of this house will see my 'Sold Fast' sign and reconsider their choice in an agent.
I won't be contacting them...it breaks all the ethics rules that I live by.
But, I do hope they are paying attention and make their agent fix their listing.
Buyers study pictures to decide if they want to come see your home. If you are selling your home, make sure your pictures don't disqualify your home before the buyers even walk through the door.
If your home is already on the market, take a critical look at the pictures posted on your listing and ask your agent to redo any of the pictures that send out red flags. If you are preparing to list your home and haven't yet selected an agent, I would welcome a chance to talk to you. For more information on what I offer my home listing clients, take a look at my sellers information page on my website or contact me by email.
For more bad photos, see the entire Photo Series.
Over the last couple of days, I posted the June numbers for St. Louis County and St. Louis City.
Below you'll find the June real estate report for St. Charles County.
Just like in St. Louis County and City, available inventory for St. Charles County dropped in June. In addition, the number of closed sales climbed. That's good news for sellers that are still waiting for a contract. Buyers are still buying but there will be fewer new listings to compete with in the next few months.
On the other hand, more buyers picked out a house and actually closed on it last month than in earlier months this year. If they didn't pick your home (and they could have because you didn't just come on the market in the last few weeks), then you have to really think about why they got back in their car and drove away without making an offer (assuming they even were inspired to come see your home). If you aren't one of the homes offering the very best features at the best possible condition in your price range for your location, then buyers will continue choosing other homes.
To compare the data to earlier months, click here for previous market reports.
Data is based on residential sales through MARIS and is deemed reliable but not guaranteed. Active and under contract sales data is based on July 6, 2008.
| St. Charles School District | June 08 | May 08 |
| # of Active properties: | 171 | 180 |
| # of Under Contract properties: | 60 | 65 |
| # of Sold properties: | 38 | 37 |
| Avg Active list price: | $245,780 | $247,315 |
| Avg Sold price: | $157,571 | $154,468 |
| Avg days on market Active properties: | 94 | 108 |
| Avg days on market Sold: | 78 | 45 |
| Avg Sold $/List $: | 96.60% | 96.32% |
| Hi/Low Sold price: | $35,000/$100,000 | $285,000/$46,500 |
| | |
| Francis Howell School District | June 08 | May 08 |
| # of Active properties: | 778 | 812 |
| # of Under Contract properties: | 176 | 191 |
| # of Sold properties: | 124 | 118 |
| Avg Active list price: | $343,734 | $337,305 |
| Avg Sold price: | $246,901 | $239,671 |
| Avg days on market Active properties: | 129 | 126 |
| Avg days on market Sold: | 75 | 69 |
| Avg Sold $/List $: | 96.17% | 94.57% |
| Hi/Low Sold price: | $842,500/$94,000 | $1,025,000/$27,600 |
| | |
| Fort Zumwalt School District | June 08 | May 08 |
| # of Active properties: | 806 | 845 |
| # of Under Contract properties: | 158 | 176 |
| # of Sold properties: | 140 | 121 |
| Avg Active list price: | $268,429 | $265,765 |
| Avg Sold price: | $215,643 | $214,646 |
| Avg days on market Active properties: | 144 | 136 |
| Avg days on market Sold: | 88 | 98 |
| Avg Sold $/List $: | 97.03% | 96.70% |
| Hi/Low Sold price: | $752,000/$75,700 | $720,000/$35,000 |
| | |
| Wentzville School District | June 08 | May 08 |
| # of Active properties: | 943 | 959 |
| # of Under Contract properties: | 126 | 161 |
| # of Sold properties: | 111 | 81 |
| Avg Active list price: | $289,410 | $286,179 |
| Avg Sold price: | $227,393 | $214,300 |
| Avg days on market Active properties: | 135 | 125 |
| Avg days on market Sold: | 93 | 106 |
| Avg Sold $/List $: | 97.30% | 96.90% |
| Hi/Low Sold price: | $650,000/$77,000 | $590,000/$61,353 |
For more information, see also posts on market conditions.
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Below is the St. Louis City market report for June.
To see yesterday's post on St. Louis County, click here.
As I look over my spreadsheet of the data since the beginning of the year, it is clear that available inventory for the parts of the city that I track has stopped climbing. The number of active properties is down from last month for everywhere but Soulard (which had no change). Another thing to note is that the homes that sold (keep in mind that some of the actives won't end up selling), mostly took between 3-4 months to get an accepted contract. Since homes sales dramatically drop off by late summer/fall, it is time to get moving and get your house sold if you are on the market. Talk to your agent about what you need to do to get a contract. Maybe you need to make some cosmetic changes or repairs. More likely the solution is to reconsider your price and take an honest look at if you are one of the best available homes at your price in your area.
And, if you are still thinking of putting your house on the market this year, the sooner the better.
St. Louis City is made up of a number of neighborhoods, and my reports are based on a map defined search which may not exactly coincide with official boundaries. Take a look at the links for maps that show my boundaries for the Central West End, South City, Tower Grove/Shaw Garden and Soulard/Lafayette Square/Benton Park.
To compare the latest data to earlier months, take a look at previous market reports.
The data is based on residential sales which doesn't include the majority of condos and is taken from MARIS. It is deemed reliable but not guaranteed. Active and under contract data is based on July 6, 2008.
| Central West End | June 08 | May 08 |
| # of Active properties: | 106 | 112 |
| # of Under Contract properties: | 25 | 25 |
| # of Sold properties: | 13 | 9 |
| Avg Active list price: | $570,453 | $576,948 |
| Avg Sold price: | $611,179 | $408,989 |
| Avg days on market Active properties: | 124 | 123 |
| Avg days on market Sold: | 114 | 58 |
| Avg Sold $/List $: | 93.78% | 94.41% |
| Hi/Low Sold price: | $2,000,000/$190,000 | $1,060,000/$61,000 |
| | |
| South City | June 08 | May 08 |
| # of Active properties: | 516 | 559 |
| # of Under Contract properties: | 145 | 151 |
| # of Sold properties: | 120 | 131 |
| Avg Active list price: | $147,588 | $150,125 |
| Avg Sold price: | $144,113 | $127,960 |
| Avg days on market Active properties: | 89 | 88 |
| Avg days on market Sold: | 87 | 97 |
| Avg Sold $/List $: | 96.60% | 94.78% |
| Hi/Low Sold price: | $337,500/$24,900 | $394,950/$19,900 |
| | |
| Tower Grove Park/Shaw Garden | June 08 | May 08 |
| # of Active properties: | 137 | 144 |
| # of Under Contract properties: | 49 | 58 |
| # of Sold properties: | 32 | 14 |
| Avg Active list price: | $191,282 | $187,830 |
| Avg Sold price: | $147,431 | $170,214 |
| Avg days on market Active properties: | 98 | 119 |
| Avg days on market Sold: | 82 | 104 |
| Avg Sold $/List $: | 96.63% | 95.50% |
| Hi/Low Sold price: |