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 has significantly ranged by area, price point, subdivision; we are happy to provide those detailed statistics. Part of the softness in certain markets, is the impact of New Construction. The biggest increase in inventory is the result of New Construction. If you have any questions about buying, selling, investing or specific communities, do not hesitate to call, email or text. If you're a seller, prepare your home for sale and get it on the market. If you're a buyer, hang in there. Good news is interest rates continue to remain stable in the 4.5% range vs 5% just a few weeks ago.
Estimated home valuation: www.StLouisHomeValues.org