All Real Estate Trends are Local:
When I am hired to sell a home, I send my clients a weekly housing market report. I want my clients to be informed on what is happening in the real estate market that most affects them:
- The neighborhood or the immediate area around their property
- The neighborhoods a few miles away or in the same school district
Housing Market Report are Like Weather Reports
The national weather report can give you an idea of it it is summer or winter, but it won’t tell you if it is raining in your backyard.
Similarly, while the national real estate news can give you insights into if the real estate market overall is booming or struggling, it doesn’t tell you if the supply & demand factors are making your neighborhood a buyer’s or seller’s market.
Micro vs Macro Real Estate Markets:
In order to understand the market forces that impact the value of your home (or the neighborhood where you are thinking about buying), you need to understand what is happening in both the micro and the macro market.
- Micro market - the nearby properties that are the most similar to you…the exact criteria will depend on where you live (usually your subdivision, adjacent city blocks or 1/2 – 1 mile radius)
- Macro market - the larger community in which you live (usually your municipality, zip code or high school boundaries)
The housing trend market reports that you will find on Arch City Homes are macro reports.
Our reports can give you a general idea of what is happening in your community. However, within each of these areas there may be pockets of homes that are bucking the trends.
Visit the Arch City Housing Market Reports:
The market report pages here have undergone a major change.
For the last 2 years, I have been manually creating St. Louis market statistic charts for about 20 areas in St. Louis City and St. Louis County.
But my primary job is helping buyers and sellers, not to spend days pulling MLS data so I can create charts. Sometimes I just get too busy with clients to set aside the time to get the charts updated.
In order to bring you the latest information, the new housing trend data will be provided courtesy of Zillow.com. Zillow’s home valuations for the St. Louis region have a huge margin of error (only 43% of the Zestimates are within 10% of the home’s value). As much as I’m not a big fan of their ability to predict the value of a home, I think they do a great job of gathering historical sales data and presenting it on a way that shows the trends for a particular city or zip code.
Coming Soon…
Initially, 16 cities in St. Louis County will be profiled. Each will have a page with links to housing trends, properties for sale and school information. So far, I’ve got profiles up for Ballwin, MO and Brentwood, MO.
Eventually, I plan to add popular zip codes. If my site visitors want more, I’m happy to add additional cities. So if there is an area that you want to see profiled here, let me know in the comments.
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PDF Possibly Related Posts:
- St. Louis Region Housing Market Report – Condo Sales (Jan – June 2009)
- St. Louis Region Housing Market Report – Home Sales (Jan – June 2009)
- St. Louis County Monthly Market Reports are Updated
- PMI Report – St. Louis Housing Market at Low Risk for Price Declines
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