The Gellman Team Real Estate Blog

Welcome to Mark's Market Update. CONSISTENCY that is the word for the week. Consistent inventory levels and consistent interest rates. Almost like groundhog day. The biggest change for the week was the decline in the stock market, which may adds to buyer's insecurity about the Real Estate market and may impact down payments. We will have to watch the stock market also. One of the reasons for light inventory is many sellers have confidence their home will sell (if priced right, prepared for sale, and marketed to the highest level), but are worried they will not find the right home, once the sell, as a result of light inventory. This is a legitimate concern and a reason many of our client's are "Double Moving". Although not ideal, it makes the seller

582 Views, 0 Comments

Welcome to another addition of Mark's Market Update.  March Madness is here and so is the Spring Market.  We have carefully watched interest rates and inventory levels over the last few weeks.  Interest rates for a 30 year conventional are approximately 4.5%, consistent with the past few weeks, but an increase of 1% over the last 6 months; impacting buyer's buying power.  When reviewing overall inventory in St. Louis and St. charles County, units are down 9% over 2017 and 20% over 2016; while average price points have increased 7% over 2017 and increased over 20% over 2016.  Prices up and supply and demand dictating the selling market.  Sellers, it is time to get your homes on the market.  If you have questions about buying, selling, investing or

904 Views, 0 Comments

Welcome to another edition of Mark's Market Update.  Consistent with the past couple of weeks, interest rates have steadied and inventory levels continue to be low.  As the weather turns and we enter the spring market, we expect inventory to pick up.  Sellers, start getting your home ready by working on the exterior and interior.  Curb appeal is important, with updated landscaping, fresh mulch and flowers.  Pools should be open for the beginning of showings.  Interior updates should include de-cluttering, painting, removing wall paper, new carpet (if current worn) and other "move in ready" updates.  Buyers are still very critical and those homes prepared for sale, are seeing premiums being paid.  If you have any questions about buying, selling,

716 Views, 0 Comments

Welcome to another edition of Mark's Market Update. Over the last few weeks we have been discussing 2 key drivers of the real estate market. 1) Interest Rates and 2) Inventory Levels. Good news that interest rates, which had been climbing over the last month, have stabilized this past week. A 30 year loan is approximately 4.5%, which is consistent with last week's rates. We have seen a slight increase in inventory levels, which is great news for buyers and will have little impact on existing homes, as the uptick was only a small percentage. However, some great new homes came on the market this week and we would expect to see multiple contracts and some selling for over asking price. We would expect to continue to see great homes coming on the market

185 Views, 0 Comments

Welcome to another edition of Mark's market update. Two things that have been a common theme over the last couple months have been inventory levels and keeping an eye on interest rates.

Interest rates over the last few weeks have increased 3/4% +, while we have not yet seen inventory levels increase. When evaluating St Louis County, St Charles County, St Louis City and Jefferson County as a whole, it is a clear seller's market with less than 3 1/2 months of inventory. However, as we evaluate each of these markets, Jefferson County is more of a balanced market, and if inventory levels increase will become a buyer's market, with 5 1/2 months of inventory. St. Louis County, of the markets reviewed, has the least amount of inventory and is the most

236 Views, 0 Comments

Welcome to another edition of Mark's Market Update. The ups and downs and ups and downs of the stock market and the impact it has had on consumer confidence and buying. Also interest rates continue to rise and inventory levels remain low. Any questions about buying, selling or investing, don't hesitate to call email or text.

231 Views, 0 Comments

Mark's Market Update.. Listen to Mark's Interview on KMOX 1120 with Mark Reardon on the "Mark Reardon Show” and “Total Information PM”.  The Gellman Team is proud to be endorsed by Mark Reardon.  Mark has first-hand knowledge of how The Gellman Team does business; as he not only is a great friend, but also a client.  He sold a home and bought a home from our team in 2017.  In review, we discussed, buying, selling, preparing your home for sale, inventory levels and other.  If you have any questions about buying, selling or investing, let me know....

672 Views, 0 Comments

Great news St Louis, the temperatures are rising out of the single digits and hopefully that will bring out the sellers.

Still a significant seller's market, but spring will bring 60%+ increase in inventory. Interest rates over the last couple years have had little to no impact on the market. Per CNBC report, something to think about, if it continues to be a seller's market and interest rates increase; buyers may be priced out of the market.

Over the next few months it's important to pay attention to inventory levels and over the next 6 months to a year, it is important to pay attention to interest rates.

199 Views, 0 Comments

 

It was a remarkable three days with some of the brightest real estate minds in the United States. We met to review best practices, discuss market trends and ways to improve the real estate experience for our clients. Consistent with our market, there is a significant weakness in inventory in all of my colleagues markets from the East Coast to the West Coast and in between.

Great homes that are priced right, prepared for sale, and marketed to the highest level are seeing high list to sale prices, and in many cases multiple offers over asking. Even though the markets are very strong, buyers are still demanding the latest trends.

If you or anyone you know is moving to a different market, we are able to connect you with the best of the best

224 Views, 0 Comments

Statistics for the last 10 years of active inventory in St. Louis County, St. Louis City, St. Charles County and Jefferson County.

When evaluating St. Louis County, St. Louis City, St. Charles County and Jefferson County combined, as of today there are 5,502 active listings (properties for sale). This is the lowest amount of active listings in the history of the last 10 years.

For reference purposes, in July 2008 there were 19,112 active listings in those same areas. Even this date in 2014 there were 8,539 active listings. However, as we have discussed in previous Mark's Market Updates, each location, price point has a different inventory level.

The market definitely needs more "mover up" homes, so that first time home owners can enter the

181 Views, 0 Comments