Health & Fitness
St. Louis Real Estate Tip of the Week: With Inventory Down, Now's a Great Time to List Your Home
The tip of the week is: it's a great time to list property, as inventory is way down. When supply is down and demand increases, homes listed on the market will sell quickly if priced right.
Spring is in full bloom literally and for St. Louis real estate. The statistics are positive indicators suggesting a continued upswing in 2013. So what does this mean? The market is now benefiting Buyers, Sellers AND investors. This brings relief to many! Many real estate agents report multiple offers in just the first week the property hits the market.
A fellow Keller Williams agent reported to me that he canceled his first public open house, as his listing sold in the first three days it hit the market!!
The tip of the week is: it’s a great time to list property, as inventory is way down. When supply is down and demand increases, those homes listed on the market will sell quickly and near asking price, if priced right. The inventory in Maris (Mid America Regional Information Systems) shows that St. Louis County only has a four month supply of homes for sale.
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The last time inventory was this low in St. Louis County was in 2006. After this time there was a six to seven months’ supply of inventory.
St. Louis County posted its best year since 2006 in the number of transactions in the month of January. According to records, 1,043 properties recently sold in March 2013 compared to 930 properties that sold in March 2012. The average day on market now stands at 95 days. The last time that St. Louis experienced this length of marketing time was in 2006. Just last year this month, it took 114 days to market and sell a home.
Find out what's happening in Kirkwoodwith free, real-time updates from Patch.
The average sales price year to date is $171,468. This is up from January 2013 when it was $149,340. Many remember back in 2007 when the average sales price in St. Louis County was $257,621. This means Buyers are still choosing from market value that is competitive and lower than in years past.
If you want to research properties sold near your home, your best resource is to contact a professional Realtor to assist you in determining your home’s value by reviewing actual recent sales in a close radius to your home. You can also research sales in your neighborhood through the St. Louis County Assessor and the St. Louis County Recorder of Deeds.
Another good resource for finding closed sales prices for homes in St. Louis can be found as reported in St. Louis Today.
It’s a SMART time in St. Louis County to buy or sell real estate!!
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Beverly Taki is a Missouri-licensed real estate broker who has successfully represented clients for 25 years. She is a broker salesperson at Keller Williams Realty St Louis. 10936 Manchester Road, St. Louis, MO 63122. Beverly has earned a certificate in dispute resolution from Pepperdine University, specializing in negotiation and mediation. Taki can be reached at beverlytaki@kw.com or 314-677-6366. Her website is beverlytakistlouis.com .