Market Snap Shot

Market Snap Shot for the Melville, Oakville, Arnold and Imperial areas of the St. Louis Real Estate Market for August 2010

Often I’m asked, ”How’s the real estate market doing?” That’s a fair question and my answer is “It Depends.” It depends if you’re a buyer for which interest rates are very attractive, if you’re a seller, property sells are increasing, or if you an investor, prices are fluctuating.

I’ve provide this report so you can view  market report from August 2012 as seen in Market Quest.

Property Sales

August Property sales were 183, up 18.1% from 155 in August of 2011 and 1.6% lower than the 186 sales last month.  August 2012 sales were at their highest level compared to August of 2011 and 2010.  August YTD sales of 1,242 are running 24.2% ahead of last year's year-to-date sales of 1,000.

Prices

The Median Sales Price in August was $145,000, down 0.7% from $146,000 in August of 2011  and down 3.5% from $150,250 last month.  The Average Sales Price in August was $156,178, down 6.8% from $167,486 in August of 2011 and down 4.9% from $164,212 last month.  August 2012 ASP was at the lowest level compared to August of 2011 and 2010. 

Inventory & MSI

The Total Inventory of Properties available for sale as of August was 1,069, down 0.9% from 1,079 last month and down 23.8% from 1,403 in August of last year.  August 2012 Inventory was at its lowest level compared with August of 2011 and 2010. 

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.  The August 2012 MSI of 5.8 months was at its lowest level compared with August of 2011 and 2010. 

Market Time

The average Days On Market (DOM) shows how many days the average Property 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 August was 82, down 11.8% from 93 days last month and down 25.5% from 110 days in August of last year.  The August 2012 DOM was at its lowest level compared with August 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 August 2012 Selling Price vs Original List Price of 96.6% was down from 96.9% last month and up from 95.8% in August of last year. 

Inventory / New Listings / Sales

This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales.  The graph shows the basic annual seasonality of the market as well as the relationship between these items.  The number of New Listings in August 2012 was 259, down 7.8% from 281 last month and down 3.0% from 267 in August of last year. 

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.