Over the last few years, condo sales have been harder hit than home sales.
In 2011, only 12% of the sales in St. Louis City, St. Louis County and St. Charles County were condos. With 9 in 10 buyers choosing homes instead of condos, only the best priced condos sell.
2011 Condo Sales by Price Range:
Take a look below to see how condo sales for the 3 major counties that make up the St. Louis region did over the last 3 years.
The charts below include condominium & villa sales that closed in 2011 and were listed in the MLS. The data is obtained through MARIS and deemed reliable but not guaranteed.
Is the Market Getting Better or Worse?
It depends on your price range and your county.
Compare the 2011 charts above to sales in the last 2 years.
St. Louis City:
St. Louis County:
St. Charles County:
What does all this mean?
If you are trying to sell a condo, there just aren’t many buyers in any price range. If you aren’t priced between $100,000 – $200,000, it will be extremely hard to sell and you need to price it aggressively if you hope to get a contract offer. But in EVERY price range, you need to be competitively priced if you hope to sell at all.
If you are trying to buy a condo, you should have a lot to choose from compared to buyers of single family homes. With a high level of inventory available and very low demand for condos, buyers are getting great deals.