One of the main goals I have for this blog is to keep you updated on what is happening in the St. Louis real estate market. Each month I will be providing you with updated home sales data for the prior month so you can track the local market (since we all know that real estate is all about the local market even though the national news seems to focus on the national picture).
The Market Report below focuses on St. Louis County, and additional reports will follow for St. Charles County and St. Louis City.
The St. Louis market is simply too big for me to provide detailed data on every corner of the region. If I didn’t list your school district, please let me know in the comments below and I’ll be happy to add the area to my Market Report for upcoming months.
Why organize home sales data by School District?
I hate to fall into the stereotype about St. Louis that all we care about is ‘where you went to high school’, BUT looking at real estate sales data in the St. Louis region makes the most sense when you analyze the data by school district. In St. Louis County, we have 91 municipalities plus unincorporated land that is scattered all over the county. As a result, looking at home market conditions by school district is the most logical way to compare what is happening in various areas of the county.
The data below summarizes only residential properties located within the school district boundaries that have been listed through the MLS. This data includes single family homes, detached cluster homes, and new construction. It may also include some townhomes and attached villas if they were entered as residential properties rather than condo/cluster properties. Active & Under Contract data is based on December 2, 2007. The data is obtained through MARIS and is deemed reliable but is not guaranteed.
| Brentwood | |
| # of Active properties: | 59 |
| # of Under Contract properties: | 9 |
| # of Sold properties (Nov 07): | 9 |
| Avg Active list price: | $311,646 |
| Avg Sold price (Nov 07): | $255,411 |
| Avg days on market Active properties: | 146 |
| Avg days on market Sold (Nov 07): | 101 |
| Avg Sold $/List $ (Nov 07): | 95.96% |
| Hi/Low Sold price (Nov 07): | $700,000/$150,000 |
| Clayton | |
| # of Active properties: | 44 |
| # of Under Contract properties: | 14 |
| # of Sold properties (Nov 07): | 4 |
| Avg Active list price: | $866,368 |
| Avg Sold price (Nov 07): | $785,500 |
| Avg days on market Active properties: | 133 |
| Avg days on market Sold (Nov 07): | 92 |
| Avg Sold $/List $ (Nov 07): | 95.80% |
| Hi/Low Sold price (Nov 07): | $1,450,000/$517,000 |
| Ladue | |
| # of Active properties: | 217 |
| # of Under Contract properties: | 58 |
| # of Sold properties (Nov 07): | 23 |
| Avg Active list price: | $1,055,111 |
| Avg Sold price (Nov 07): | $645,335 |
| Avg days on market Active properties: | 172 |
| Avg days on market Sold (Nov 07): | 94 |
| Avg Sold $/List $ (Nov 07): | 93.34% |
| Hi/Low Sold price (Nov 07): | $1,465,000/$239,500 |
| Lindbergh | |
| # of Active properties: | 251 |
| # of Under Contract properties: | 43 |
| # of Sold properties (Nov 07): | 33 |
| Avg Active list price: | $350,205 |
| Avg Sold price (Nov 07): | $211,191 |
| Avg days on market Active properties: | 134 |
| Avg days on market Sold (Nov 07): | 84 |
| Avg Sold $/List $ (Nov 07): | 95.59% |
| Hi/Low Sold price (Nov 07): | $516,000/$70,000 |
| Kirkwood | |
| # of Active properties: | 311 |
| # of Under Contract properties: | 52 |
| # of Sold properties (Nov 07): | 24 |
| Avg Active list price: | $459,988 |
| Avg Sold price (Nov 07): | $514,899 |
| Avg days on market Active properties: | 112 |
| Avg days on market Sold (Nov 07): | 98 |
| Avg Sold $/List $ (Nov 07): | 104.70% |
| Hi/Low Sold price (Nov 07): | $4,600,000/$110,500 |
| Maplewood – Richmond Heights | |
| # of Active properties: | 92 |
| # of Under Contract properties: | 18 |
| # of Sold properties (Nov 07): | 8 |
| Avg Active list price: | $216,019 |
| Avg Sold price (Nov 07): | $148,000 |
| Avg days on market Active properties: | 137 |
| Avg days on market Sold (Nov 07): | 92 |
| Avg Sold $/List $ (Nov 07): | 94.84% |
| Hi/Low Sold price (Nov 07): | $284,000/$70,000 |
| Mehlville | |
| # of Active properties: | 412 |
| # of Under Contract properties: | 74 |
| # of Sold properties (Nov 07): | 44 |
| Avg Active list price: | $279,080 |
| Avg Sold price (Nov 07): | $240,195 |
| Avg days on market Active properties: | 140 |
| Avg days on market Sold (Nov 07): | 111 |
| Avg Sold $/List $ (Nov 07): | 93.46% |
| Hi/Low Sold price (Nov 07): | $1,450,000/$43,000 |
| Parkway | |
| # of Active properties: | 596 |
| # of Under Contract properties: | 144 |
| # of Sold properties (Nov 07): | 85 |
| Avg Active list price: | $535,756 |
| Avg Sold price (Nov 07): | $324,788 |
| Avg days on market Active properties: | 113 |
| Avg days on market Sold (Nov 07): | 86 |
| Avg Sold $/List $ (Nov 07): | 95.84% |
| Hi/Low Sold price (Nov 07): | $1,200,000/$102,000 |
| Pattonville | |
| # of Active properties: | 178 |
| # of Under Contract properties: | 34 |
| # of Sold properties (Nov 07): | 32 |
| Avg Active list price: | $181,418 |
| Avg Sold price (Nov 07): | $182,669 |
| Avg days on market Active properties: | 121 |
| Avg days on market Sold (Nov 07): | 65 |
| Avg Sold $/List $ (Nov 07): | 96.72% |
| Hi/Low Sold price (Nov 07): | $336,500/$63,500 |
| Rockwood | |
| # of Active properties: | 862 |
| # of Under Contract properties: | 148 |
| # of Sold properties (Nov 07): | 91 |
| Avg Active list price: | $548,792 |
| Avg Sold price (Nov 07): | $377,976 |
| Avg days on market Active properties: | 131 |
| Avg days on market Sold (Nov 07): | 98 |
| Avg Sold $/List $ (Nov 07): | 96.66% |
| Hi/Low Sold price (Nov 07): | $1,956,070/$90,000 |
| Webster Groves | |
| # of Active properties: | 255 |
| # of Under Contract properties: | 43 |
| # of Sold properties (Nov 07): | 24 |
| Avg Active list price: | $286,528 |
| Avg Sold price (Nov 07): | $250,483 |
| Avg days on market Active properties: | 92 |
| Avg days on market Sold (Nov 07): | 89 |
| Avg Sold $/List $ (Nov 07): | 96.19% |
| Hi/Low Sold price (Nov 07): | $470,000/$81,000 |
| University City | |
| # of Active properties: | 233 |
| # of Under Contract properties: | 46 |
| # of Sold properties (Nov 07): | 34 |
| Avg Active list price: | $218,184 |
| Avg Sold price (Nov 07): | $228,874 |
| Avg days on market Active properties: | 98 |
| Avg days on market Sold (Nov 07): | 87 |
| Avg Sold $/List $ (Nov 07): | 94.63% |
| Hi/Low Sold price (Nov 07): | $481,000/$18,000 |
One commonality you’ll notice among most of the areas is that the average price that sellers are coming down in order to sell their home is between 93-96% off list price in most areas of the county. This number is much lower than the historical average of around 97% that we normally see in St. Louis County.
Buyers are listening to the news and hearing how it is a strong buyers market. They want sellers to come down from the list price even if the house has been priced appropriately for the current market. In today’s market, sellers should be prepared for offers that ask them to come down 5-10% off their price.
10936 Manchester Road St. Louis, MO, 63122 USA
admin@archcityhomes.com • 314-677-6538
Possibly Related Posts:
- St. Louis Region Housing Market Report – 2009 Condo Sales
- St. Louis Region Housing Market Report – Home Sales (Jan – June 2009)
- St. Louis Region Market Report: January – June 2008 (Part 2)
- St. Louis Region Market Report: January – June 2008 (Part 1)
