Mark's Market Update - St. Charles County and Northern Jefferson County

Posted by Mark Gellman on Monday, July 6th, 2020 at 6:20pm.

 

Welcome to another edition of Mark’s Market Update.

To follow up on last week's St. Louis County report, today's focus is St. Charles County and Northern Jefferson County. 

-In St. Charles County sold units were down over 18.5% year over year, as a result of weakness in available inventory

-In Northern Jefferson County sold units were down over 15% year over year, as a result of weakness in available inventory

-It is a sellers market, so if you’re a seller get your home on the market. 

-We're entering the late spring market. 

-We’re seeing a significant number of homes coming onto the market, but still well below last year

-The Gellman Team is having a record July ‼️

-There is still a significant amount of buyers that want to take advantage of historical low interest rates. 

-Interest rates are down in the mid 2’s right now.

It is an incredible time to buy, but equally to sell right now

In the chart you'll notice some aberrations:

-some markets have an increase in sales 

and others have a decrease. Those markets that predominantly have an increase in unit sales are related to the new construction that is on the market. However, overall units are significantly down. We do see some recovery going into the July and August market, as sellers begin to put their homes on the market. ‼️

If you have any questions about buying, selling, investing don't hesitate to reach out. If you want information on your specific market within the sub market of St. Louis County, St. Charles County, Northern Jefferson County or St. Louis City; don’t hesitate to reach out. 

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