St. Louis has very few options for homeowners who want to buy a waterfront home with lake access.
Lake St. Louis is the only area in the metro St. Louis area which allows residents to step down to their own dock, jump into their boat and enjoy the day on a 550 acre lake.
The city has two lakes (550 acres and 75 acres) which are available for use only by residents living within the Lake St. Louis Communication Association boundaries.
Pricing Trends for Lake St. Louis Waterfront Homes:
Each year, only a few dozen waterfront homes sell in the Lake St. Louis area. With such a limited supply of waterfront homes, these homes sell for a premium compared to nearby homes without direct lake access. Still, the current down housing market has impacted these homes along with the rest of the community.
When housing appreciation rates are tracked over long periods of time, research has found that most homes appreciate an average of 4% annually. The 1st chart below shows how the housing bubble resulted in overinflated prices for waterfront homes followed by a market correction. The end result is that today’s prices are not much different than if there had not been a bubble or a market correction. Since 2000, the Lake St. Louis waterfront homes have appreciated 3.2% annually instead of the typical 4% historical appreciation rates. Honestly, I don’t think that’s too bad given today’s economy.
*** NOTE: 2009 statistics are YTD through 12/10/09. Data is obtained through MARIS and includes MLS listed homes sales. The data is deemed reliable but not guaranteed.
Buy a Lake St. Louis Waterfront Home:
Now is a great time to buy a waterfront home in Lake St. Louis. Home prices have come back down to reasonable levels, buyer demand is still low (resulting in better prices for buyers!) and interest rates are at historically low levels.
Take a look at the waterfront homes that are currently available. If you would like to schedule a showing, simply contact me and I can set it up for you.
(The links with MLS listings are only good for 30 days, so if you found this post and the link is no longer working, simply contact me and I’ll send you everything currently on the market)
PDF Possibly Related Posts:
- How Many St. Louis Homes Fail to Sell?
- What is the Appreciation Rate of St. Louis Condos?
- What is the Appreciation Rate of St. Louis Homes?
- What is the Appreciation Rate for Homes in St. Louis?
