Extras: Totally rehabbed in 2006 including hi efficiency furnace, A/C, plumbing & electric. Bonus room upstairs, sun room off kitchen, architectural charm, walk-in closets.
Completely renovated in 2006, the 1st floor has historic charm while upstairs feels like newer construction with white trim, 6 panel doors, new paint & trendy track lighting.
First floor features include: wood floors, stained wood trim, doors & windows, stained glass, crown molding, architectural archways, and decorative fireplace.
Tons of living space with 2 bedrooms per floor, entry foyer, living room, dining room, kitchen, sun room & bonus space upstairs perfect for an office.
Updated kitchen has 42 inch cabinets with crown molding, tile floors, dishwasher, microwave, gas stove, refrigerator. Enjoy meals at the kitchen breakfast bar or use the adjoining sun room with ceiling fan as a breakfast room.
Tons of storage: coat & linen closets, 2nd floor walk-in closets, large basement plus garage.
There is even a laundry chute in the bathroom!
Privacy fenced yard, newer walk-out stairwell, hi efficiency furnace & A/C, updated electric, plumbing, water heater. Washer, dryer, 13 month home protection warranty too!
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Contact us by email below or call Karen Goodman at 314-677-6538.
I chose not to lump condos and homes together when putting together these appreciation rate charts, because the single family home market and the condo market do not necessarily have the same pricing trends.
Condo sales have definitely been depressed in the last few years, with only 13% of 2009 St. Louis area buyers choosing a condo instead of a house. With only a small percentage of buyers looking for condos, more condo owners were unsuccessful when attempting to sell than single family home sellers.
By looking at the median sale price for the condos that did sell each year, we can see how condos have appreciated over the last 10 years.
What is the Appreciation Rate of St. Louis Condos?
The St. Louis MLS system includes realtor-listed condo sales since 1999. Granted, every property that sells is not listed in the MLS. However, by comparing the median sale price of MLS listed properties from year to year, we can get a good idea about how the market has been doing.
I’ve put together some charts to see how condos have been appreciating (or depreciating) in St. Louis City, St. Louis County and St. Charles County over the last 10 years.
Since the housing market historically appreciates about 4% per year when you look at sale prices over long periods of time, I added a line that tracks how home values would have increased if they had simply appreciated 4% each year since 1999.
As a reminder, these charts simply track changes in the market as a whole.
Increases in value can include both increases in the value of specific properties AND the impact of rehabbing older properties or new construction properties built in an older area. Decreases in median sale price includes both reductions in the value of specific properties AND a trend with buyers opting to choose less expensive condos.
Keep in mind that the value of any particular condo will not necessarily mirror the trends noted below.
St. Louis City:
Average annual appreciation rate from 1999-2009 = 5.97%
St. Louis County:
Average annual appreciation rate from 1999-2009 = 3.82%
St. Charles County:
Average annual appreciation rate from 1999-2009 = 6.08%
NOTE: These charts include new & resale condos, villas, townhomes, rowhomes and lofts which were listed in the MLS under the Condo category.
Next Up…Part 3 – How Many St. Louis Homes Fail to Sell?
For the last few years, most of the news about the housing market has been about how prices are down.
Clearly, prices HAVE come down for most properties when you compare today’s value to prices at the peak of the housing boom (2005 or 2006 for most areas).
I was one of the people who bought [...]
Unlike single family homes which have different trends across the 3 counties that make up the St. Louis market, condo sales followed a similar pattern in St Louis City and County during 2009. St. Charles County’s sales distribution differed in that there were no sales above $500,000.
Though plenty of single family homes sold under $100,000, [...]
Last year I reported that the majority of buyers were choosing lower priced homes with little demand in the higher price ranges.
Even with the daily bad economic news, people have continued to buy homes throughout 2008 and 2009. However, buyers concerned about the economy clearly made conservative spending choices. Homes appropriate for first time buyers [...]
The Missouri Housing Development Commission (MHDC) offers a number of programs to strengthen communities and provide affordable housing.
The MHDC website describes their purpose as:
MHDC has invested almost $4 billion to construct, renovate and preserve affordable housing. MHDC functions as a bank, providing financing directly to developers of affordable rental properties. The commission also provides [...]
Listing Price: $175,000
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Yesterday I posted charts showing the 
