Local Housing Market Continues Upward Trend

The St. Louis Area Local Housing Market Continues Its Upward Trend

Statistics from Mid America Information Systems (MARIS) indicate that sales of homes in existing inventory are on the rise. After experiencing an uncertain housing market in previous months, this is welcomed news for both purchasers and sellers.  Now is the time to let Prudential Select Properties help your dreams come true.

Why now? The chart below shows more home increasing being sold and the average sales price of St. Louis real estate rose from $136,100 in January 2012 to $175,703 in June 2012.* This increase in both “closings” and pricing indicates a return to a potentially healthier real estate marketplace for consumers.

One of the reasons for this shift has to do with inventory. In months previous, the market had been flooded by foreclosures and short sales, which drove down home values.  With the decrease in potential return from their investment, sellers who were not in the high risk category may have chosen to wait.  As the inventory of real estate potentially decreases in upcoming months, home prices will rise and confidence will grow. More homes will be bought and sold.

What does this mean to you as a buyer or seller?  As confidence increases in the economy, existing homeowners will naturally be more willing to list their homes for sale. A wider selection of properties will be available to those seeking to make a purchase.  Additionally, sellers can potentially reap the benefits of a healthier real estate market when they list their home for sale.

Whether you are looking to buy or sell, your Prudential Select Properties realtor can guide you through the process and do all the research for you. Our knowledgeable agents pride themselves in keeping up-to-date on all the latest trends of St. Louis homes for sale.  If you would like to list your home or attend a St. Louis open house, we’d love to help you. Visit DiscoverStL.com for more information.

 

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