Mark's Market Update - March Madness, Spring Market Is Here

Posted by Mark Gellman on Friday, March 16th, 2018 at 5:53pm.

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 would like a home valuation, don't hesitate to call, email or text.

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