One of the best ways to assess how the local housing market is doing is to evaluate how many homes successfully sell vs how many fail to sell.
The charts below show the number of S.t Louis properties listed by an agent in the MLS that closed vs the ones that were eventually taken off the market without closing.
In an improving market, the number of successful sales will be increasing and the percentage of failed listings will be decreasing. In all of the areas charted below, there were more sales in 2011 than in 2010 except for St. Louis City single family homes. That’s a good sign that our market may have hit the bottom.
The green columns below represent successful sales, and the blue columns show failed listings.
Homes:
St. Louis County Sold Homes: Sold vs Expired Listings
St. Louis City Sold Homes: Sold vs Expired Listings
St. Charles County Sold Homes: Sold vs Expired Listings
Condos:
St. Louis County Sold Condos: Sold vs Expired Listings
St. Louis City Sold Condos: Sold vs Expired Listings
St. Charles County Sold Condos: Sold vs Expired Listings
In the majority of the St. Louis region, for every 3 properties listed in the MLS, only 1 will end up selling. While that ratio could be better, it is an improvement from a few years ago.
Karen Goodman
Karen Goodman is Founder of Arch City Homes and leads a team of top real estate agents in St. Louis, MO.
Follow Me:
{ 0 comments… add one now }