May 2018

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Welcome to another edition of Mark's Market Update. Now that it is Mid May, I did an analysis to compare sales from 1/1/17-5/15/17 vs 1/1/18-5/15/18 for the overall market in St. Louis County, St. Louis City, St. Charles County and Jefferson County for the price range between $250,000 - $1million. Sales units increased 7.5% from 2017 to 2018, while average sales price only increased .25% The Spring market is here and pools are open and flowers are blooming. Inventory levels have increased 35-40% over beginning of April levels. In addition, we are seeing New Construction having an impact on the market, with many new build opportunities available; including great custom options at www.newconstructionstl.com Also, we are seeing high volume builders

Welcome to another edition of Mark's Market Update. This week we are in New York City, one of the highest rent districts in the United States. Premium Real Estate is selling for $4,000-$5,000 per square foot compared to St Louis; where the premium maybe $400-$450 per square foot. New York prices, in many cases, are 9-10 times the price in St Louis! St. Louis indeed has great values and a high affordability index. Now back to St. Louis update: Inventory levels increased 35% percent this week, over past weeks and good news that interest rates stayed the same, although higher, still historical low. The increase in new homes on the market this week, provide great opportunities for buyers! Now that spring is here, if you a seller, it is the time to sell.