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 schools were down 38% June 2020 vs 2019
When we talk about prices, the median sales price was actually equal year to year
However, there were some big aberrations, when you look at specific home prices in specific schools‼️
If you’re a seller it’s a sellers’ market get your home on the market
Although it’s late June we look at this as the late spring market.
If you’re a buyer, unbelievable interest rates, so hang on and hopefully we will see some more inventory.
It is an incredible time to be a seller and if you are a buyer, interest rates are at historical lows
***To be clear; sales numbers are down significantly as a result of even weaker inventory of homes available for sale. Buyer demand right now is tremendous***
If you have any questions about buying, selling, investing don’t hesitate to reach out. Thank you so much!