The Gellman Team Real Estate Blog

Welcome to another edition of Mark’s Market Update.

I looked at the first 28 days of June 2020 vs 2019 to get an idea of what is happening in the market. The focus of today's update is St. Louis County. Throughout the next couple of days I will be providing updates on St. Charles, Northern Jefferson County, and St. Louis City.

Evaluating all homes in St. Louis County, over $100,000 price point:
Sold Homes are down 32% year over year
Approx. 1,200 homes were 2019 in the 28 day June period vs 862 same period 2020.

A few highlights:
Sold homes in Clayton schools were down 48% June 2020 vs 2019
Sold homes in Ladue schools were down 46% June 2020 vs 2019
Sold homes in Marquette schools were down 37.5% June 2020 vs 2019
Sold homes in Parkway Central

62 Views, 0 Comments

Welcome to another edition of Mark’s Monday Market Update.

It continues to be a seller’s market. If you’re a seller get your home on the market if you’re a buyer continue to be patient, since we’re moving into that “late spring market”

The question I keep receiving is what should we do… we’re considering either moving or upgrading our home?

Some common areas that individuals are upgrading are:

kitchens

bathrooms

outdoor living

During quarantine, being inside so many months, it really highlighted being in your home and individuals figured out that if they want to stay in their home they’re going to have to do this or that.

Kitchens are being used right now more than ever and people are looking at upgrades like:

going from

139 Views, 0 Comments

Welcome to another edition of Mark’s Market Update.

Well good news for buyers... there’s an increase of about 20% on listings, we’re still well below last year at this time; however, what we’ve been talking about is going into June and July. We’re going to see what’s traditionally the late summer market, but this year we’re calling it the "spring market". We’re going to continue to see increases.

I’ve had a lot of questions from perspective renters. What does the rental market look like? I’ve sold my house and i’m not ready to buy yet or from some of our out of town or relocations that want to understand the St. Louis market. What does the St. Louis rental market look like?

-It is incredibly weak right now because of the strength in the

72 Views, 0 Comments

Welcome to another edition of Mark’s Market Update.

On a weekly basis we have been talking a lot about residential real estate and not much has changed (low inventory and strong buyer demand). But we have had a lot of questions about what is happening in the commercial market.


When we look at commercial we are talking about three different types:

  • Strip centers for retail and restaurants
  • Office buildings
  • Multi-family apartments

All three of these are challenging. With retail being the most challenging, office buildings second and then multi-family.
-However, multi-family rent collections have exceeded expectations, in March and April. Rent collections have been very solid; considering, what has happened over the last couple of

71 Views, 0 Comments

Welcome to another edition of Mark’s Market Update.

Today’s episode from Labadie Missouri, a community established in the mid 1800’s, with the famous Hawthorne Inn. It’s Memorial day today and we want to wish everyone a happy Memorial day weekend and most importantly thank all who served our Country - you’re amazing.

Now what is happening in Real estate? The same story.

• Low interest rates

• It’s a sellers market. We still haven’t seen the bump in inventory like we usually expect by now. In the past, school just let out, there’s a lot of vacations, and a lot of other things preventing sellers from putting there home on the market and buyers being active for the next couple weeks, but this is like no other market!

• We’re seeing a

61 Views, 0 Comments

Mark’s Market Update - Interest Rates and Inventory Levels
Welcome to another edition of Mark’s Market Update! Very consistent with last weeks market:

-It is still a sellers market

-significant weakness in inventory

-significant buyer demand

-we’re seeing multiple contracts

-we’re seeing over asking offers

-There is still significant strength in the market

The good news for buyers is that we are expecting an increase in inventory as we work through May and June. Also interest rates are historical lows -

For 2020 interest rates are 3.125% for a 30 year mortgage today. Compared to 2019 it was right under 4% & In 2018 that same loan was almost 4.5% So the buying power today is far more significant than it was just 2 years ago‼️

168 Views, 0 Comments

Welcome to another edition of Mark’s Market Update.


Its the first week in May, we're getting used to the new norm but the good news is we are seeing some light at the end of the tunnel.

Certainly in the real estate market we are seeing some activity, I'm going to get in to Mark's Market Update but first we have another special guest this week, that I get to see a lot more now that I'm working from home...my daughter Lily!

Back to real estate... We follow 4 Markets, St Louis County and City, St Charles County and Jefferson County. In all four of those markets we've seen prices rise significantly compared to April of 2020 over April of 2019 - even during what's happened in the last month and a half, we've seen significant rise in price

92 Views, 0 Comments

Welcome to another edition of Mark’s Market Update! This week we have a special guest.... our dog Gus


It’s been a crazy last month, but we hope everyone is doing well and staying healthy. Most importantly we want to thank all first responders and the front line workers. We appreciate you!


Now real estate... What is happening in the market? When looking at the market, April 1st through April 20, comparative 2019 versus 2020, In St. Louis County, St. Louis City, Jefferson County, and St. Charles, for unit closings.


1. Consistent in all markets down approximately 16%
2. As the April closings relate to early/mid March under contracts; we are not going to know the full market impact of COVID 19 until May closing data is analyzed.
3. New listing

156 Views, 0 Comments