Now that the election is over, it is time to get back to selling and buying homes! In a typical presidential election year, it is not uncommon for the market to slow down considerably in the early Fall with homebuyers delaying decisions or even delaying their search. Then, right after the election as uncertainty is removed; buyers are usually out looking again leading to new contracts being written during the months of November and December, a time of year when new business usually dips.
To our surprise, this year has been a bit different. The market opened in the early Fall, and only slowed in the final weeks of the election. Even then, however, we have continued to see showing and contract activity. Buyers are out looking, contracts are being written and sellers are accepting. We are working our way through the inventory of homes on the market. I have buyers who are looking for a specific type of home that is not currently available on the market. Anyone have a 3,000 sq ft mid-century modern ranch to sell between I-170 and I-270? Last year, they would have had several choices. I think the real estate industry will be very busy this November and December with a number of closings in January. And no, the specific outcome of the election is not typically a determining factor in if buyers want and feel confident about buying. The more important drivers are value pricing and buyer/seller motivation and confidence, and low interest rates.
Take a look at some of the examples of homes that are currently on the market:
1300 Log Cabin Lane in Ladue for $2,595,000 by Laura McCarthy
2100 Bopp Rd in Ladue Schools for $625,000 by Dielmann Sotheby's International Realty
6352 Alexander Dr in Clayton is listed for $1,250,000 by Janet McAfee
6322 Pershing for $425,000 in University City by Laura McCarthy
7159 Westmoreland Dr in University City for $449,000 with Dielmann Sotheby's International Realty
If you have questions about a particular area, neighborhood or property, please feel free to contact me for additional information. 314-283-7590 email@example.com
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About this Column: The market data is puller from the Mid America Regional Information System. All information is deemed reliable but not guaranteed.