Buyers Feeling Sense of Urgency in Home Market

Our market is off to a great start this year.  In fact, things are going so well that some worry-warts in the national press are even bringing up the "b" word.  We think they're grasping for attention-grabbing headlines.   St. Louis is seeing nothing close to a bubble, but we are seeing signs of a healthy market.  We have not swung too far or too fast but many of our buyers are certainly feeling a sense of urgency that has not been present in years. 

Homes prices across the Ladue School District remain strong and the number of homes sold has increased.

Average Sale Price (per square foot) continues to hover around $160 (for sales under $1 million). Unit Volume has increase substantially to 70 sales and Days-On-Market has dropped by a full month.

Sellers are still having to discount their prices but this may change as Spring buyers compete for inventory.  Sale-Price-to-Asking-Price has remained stable at 88%.

3 Sunnymeade is one of the newest to hit the Ladue market listed at $540,000. 

In this dynamic moment, as conditions improve, the reality of the market will be ahead of the data.  This makes expert advice from seasoned professionals as important as ever.  For information on additional areas or specific properties, contact us directly.  Whatever your 2013 plans may be, it is not too soon to get started or too late for a second opinion!

If you have questions about a particular area, neighborhood or property, please feel free to contact Sabrina Robb for additional information.  314-283-7590  srobb@robbpartners.com

Please follow my weekly Real Estate blog every Wednesday for the latest on Unique, Distinctive and Historic properties!   To see more and to keep up with the latest real estate news and most sought after homes for sale, please visit my website at www.robbpartners.com. 

About this Column: The market data is pulled from the Mid America Regional Information System.  All information is deemed reliable but not guaranteed.