The Gellman Team Real Estate Blog

Welcome to another edition of Mark's Market Update. I was reading a couple of articles today that I wanted to discuss with you. CNBC had an article titled "Southern California Home Sales Crash. Warning Sign for Nation??" It discussed how sales plummeted by 12%, but we still saw record sales prices. It appears that in Southern California, a lot of people getting out of the market due to rising home prices.

Now let's move on to St. Louis and the indicators we are seeing in the luxury market. When evaluating the luxury market over $1 million in St. Louis County, we looked at the top six municipalities that have the most luxury home sales; Ladue, Clayton, Town & Country, Creve Coeur, Frontenac, and Chesterfield. For the first seven months of 2018,

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Welcome to another edition of Mark's Market Update. The first half of the year is over. When evaluating statistics for the first half of the year, we reviewed YTD 2017 vs 2018. For this update, we reviewed the entire MLS. Other week's we have just looked at St. Louis County, St. Charles, Northern Jefferson County and St. Louis City. 1st Half 2017 vs 2018 - Overall Inventory was flat. Pending sales down 1%. Available listings (current inventory) down 3.5%. Expired listings down 10% (good news, showing the sell through of current homes). New listings up 1%. 5 years appreciation: 2014=5.4% 2015=5.4% 2016=3.1% 2017=3.4% 2018=3.8% Note: over the last 5 years, total appreciation has been in the range of 16-18%. However, appreciation over that time period

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Welcome to another edition of Mark's Market update. The summer is definitely here. 102 degrees, 93% humidity. If you're in St. Louis, you understand what I am talking about and if you are not in St. Louis, you are not missing anything, Now back to real estate: We are still seeing soft inventory levels and single digit inventory growth over the last month and consistent with last year. Interest rates this week are still 4.6% to 4.65%, which is consistent with prior week and over last month they have dropped. However, I am concerned about "loose lending" that is occurring and reminds me of 2008 and prior. We are seeing Stated Income Loans coming back, Loans to Borrowers with credit scores under 600, 3% or less down on Jumbo Loans and other risky

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Welcome to another edition of Mark's Market update. Great news in the interest rate arena. Interest rates this week hit 4.6% to 4.65% vs over 5%, 4 weeks ago. Active inventory in St. Louis County, St. Charles County, St. Louis City and Jefferson County is down 8% over previous year. Some offset is the significant increase in New Construction which is booming. Buyers are paying premiums for new construction, but they are able to get what they want in the areas they want. "Fall Out of Contracts" are higher than any time this year. Buyers are writing contracts, getting under contract and then "catching their breath and changing their mind" and terminating the contract. We are starting to see homes go on the market and all contracts reviewed x days

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Mark's Market Update: Listen to Mark's Interview on KMOX 1120 with Mark Reardon on the "Mark Reardon Show” and “Total Information PM”

Welcome to another edition of Mark's Market update, taking place at KMOX 1120 am with our good friend Mark Reardon, host of The Mark Reardon Show and Total Information PM. Listen to the entire interview for market insights. Per S&P CoreLogic Case-Shiller index for March, National home prices rose 6 1/2%, there is 3.8 months of inventory, which is lower than 1990 levels, and home prices will continue to rise. Per Mark Gellman, when evaluating the following markets: St. Louis, St. Louis City, Jefferson County, St. Charles for Month of May 2018 to date vs same period 2017; unit sales down 10%, prices up 2.5%, $ /sq

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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

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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.

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Welcome to another edition of Mark's Market Update. I compared the first 2 weeks of April 2017 with the first 2 weeks of April 2018 for Sold Properties and the following were the results when evaluating St. Louis County, St. Charles County, St. Louis City and Jefferson County. 2018 prices were up over 6% and sold units were up over 12%. As we discussed, inventory levels in 2018 were at record lows, the good news is buyers were absorbed! This current week, inventory levels at record lows, but good news is interest rates fell to 4.5% or even a tad lower. Lastly, when looking at trends for May, June 2017, inventory levels reduced from April to May to June and if that same trend occurs in 2018, we will see less than 2 months of inventory (the lowest in

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Will you be joining us on Sunday, April 29 for our Client Appreciation Bowling Party?

Today, I’m so excited to let you know that you’re invited to our upcoming Client Appreciation Bowling Party.

The party will take place on Sunday, April 29 from 2 p.m. to 6 p.m. at Saratoga Lanes (2725 Sutton Boulevard, Maplewood 63143), and you won’t want to miss it.

If you plan on joining us for this great event, please RSVP here.

Bring your friends, your family, and anyone else you think would like to come out for fun, food, bowling, and darts.

If you have any other questions or would like more information, feel free to give me a call or send me an email. We look forward to seeing you soon.

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Welcome to another edition of Mark's Market Update. I compared the first 2 weeks of April 2017 with the first 2 weeks of April 2018 for Sold Properties and the following were the results when evaluating St. Louis County, St. Charles County, St. Louis City and Jefferson County. 2018 prices were up over 6% and sold units were up over 12%. As we discussed, inventory levels in 2018 were at record lows, the good news is buyers were absorbed! This current week, inventory levels at record lows, but good news is interest rates fell to 4.5% or even a tad lower. Lastly, when looking at trends for May, June 2017, inventory levels reduced from April to May to June and if that same trend occurs in 2018, we will see less than 2 months of inventory (the lowest in

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