The Home Page - General Real Estate Info: June 2012

Wow, its been a busy month so far in June. Here it is nearly mid month and I'm finally getting this posted!. Here is the May's Market Snapshot

My ESA (Effective Service Area) of Arnold, Imperial, Mehlville and Oakville MO Market Snap shot for May 2012 – Source: Market Quest

Graphical Market Analysis of My ESA (Effective Service Area) of Arnold, Imperial, Mehlville and Oakville, MO

Property Sales

May property sales in my ESA were 73 listings, down 16.1% from 87 in May of 2011 and 6.4% lower than the 78 sales in April. May 2012 sales were at their lowest level compared to May of 2011 and 2010. May YTD sales of 309 are running 7.8% behind last year's year-to-date sales of 335.

Prices

The Median Sales Price in May for my ESA was $140,000, up 4.9% from $133,400 in May of 2011 and down 0.7% from $140,950 from April. The Average Sales Price in May was $155,364, up 9.7% from $141,608 in May of 2011 and up 4.0% from $149,356 in April. May 2012 average sales price was at a mid range compared to May of 2011 and 2010.

Inventory & MSI

The Total Inventory of Properties available for sale as of May was 568 (in my ESA), down 3.1% from 586 last month and down 29.0% from 800 in May of last year. May 2012 Inventory was at its lowest level compared with May of 2011 and 2010.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The May 2012 MSI of 7.8 months was at its lowest level compared with May of 2011 and 2010.

Market Time

The average Days On Market (DOM) shows how many days the average listing is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for May in my ESA was 110, up 5.8% from 104 days from April and equal to 110 days in May of last year. The May 2012 DOM was at a mid level compared with May of 2011 and 2010.

Selling Price vs Original Listing Price

The Selling Price vs Original Listing Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The May 2012 Selling Price vs Original List Price of 96.8% was down from 97.3% last month and equal to 96.8% in May of last year again in my ESA.

New Listings

The number of new listings in May 2012 was 125, down 12.0% from 142 April and down 11.3% from 141 in May of last year.

Conclusion

With this information in hand it appears we are continuing the trend from a buyer’s market to more balanced market.

By Bob Weibrecht, Realtor Coldwell Banker Gundaker 314-852-9566 / 636-461-2000 www.BobWeibrecht.com FYI - The goal of this blog is to provide general information related to the buying and selling of residential real estate. The reader is highly encouraged to consult the services of a professional real estate agent during the transaction. This blog is not a substitute for any type of professional assistance which may be required.