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Health & Fitness

St. Louis Real Estate Tip of the Week: DON'T LOSE OUT-GET NOTIFIED!

Steady increases since January for average sales prices and number of homes sold in St. Louis County. These positive indicators suggest a continued upswing in 2013 for the St. Louis housing market. It’s expected 2013 will be considerably better than 2012 for both sales volume and units sold.

Real estate agents are reporting multiple offers in just the first week the property hits the market. They also report that their listings are getting multiple offers and selling prior to the first open house. Just last week, a client of mine requested to preview a home in Chesterfield, new to the market. It was listed on Friday and the seller had a signed contract by Saturday night.  Thus, my buyer lost out.  When buyers lose a property, it motivates them to move quickly to preview and write contracts the day the properties hit the MLS.

The tip of the week is: If you are looking to buy a home in a specific area, it’s important to ask your Realtor to put you on an auto email list, so that you get notified about the new listings when they hit the MLS.  Of course by working with a Realtor, your agent will be looking daily for new listings as well.  The MLS system, Maris (Mid America Regional Information Systems) offers Realtors the option to refine a specific search, so that listings that match specific criteria can be emailed daily.

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At this time, St. Louis County has a four month supply of inventory.  According to the National Association of Realtors (NAR), four months’ supply creates a solid sellers’ market. This market is due to a lack of inventory and increased buyer activity.

St. Louis County posted an increase in number of homes sold.  According to reports, 1,207 properties recently sold in May 2013 compared to 1,196 properties that sold in May 2012. 

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With increased demand and lack of supply, St. Louis is seeing an increased average sales price.  The average sales price year to date is $213,662. 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.

Another positive sign is the average day on market in St. Louis.  It now stands at 78 days.  Just last year this month, it took 95 days to market and sell a home.  It’s more interesting to note in January of this year, it was reported that it took 102 days to sell a property.  Thus, it’s good news for sellers that homes are selling more quickly.

If you want to get your home sold, it’s important to look for a Realtor who 1.) is realistic in the pricing, offering comparable sales to justify their recommended list price, 2.) is able to offer suggestions for staging to increase the desirability of the home, 3.) is business oriented in their approach to their own business and 4.) has strong business partners who can assist in the various elements for a smooth transaction.

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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.

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