Mark’s Market Update - Summer Market

Posted by Mark Gellman on Tuesday, June 9th, 2020 at 12:23pm.

Welcome to another edition of Mark’s Market Update.

Well good news for buyers... there’s an increase of about 20% on listings, we’re still well below last year at this time; however, what we’ve been talking about is going into June and July. We’re going to see what’s traditionally the late summer market, but this year we’re calling it the "spring market". We’re going to continue to see increases.

I’ve had a lot of questions from perspective renters. What does the rental market look like? I’ve sold my house and i’m not ready to buy yet or from some of our out of town or relocations that want to understand the St. Louis market. What does the St. Louis rental market look like?

-It is incredibly weak right now because of the strength in the sales market is so strong, with the continued weakness in inventory on the sales side. There’s just not many rentals available. So if you’re looking to rent right now your options are very slim.

If you’re a seller that is deciding to rent your home, you’re going to be able to rent that home in a very easy manner. Remember after the renter moves out, in many cases, there’s going to be a lot of work to do, to prepare for re-sale.

If you’re looking to sell and rental is just a short term option you may want to consider doing what it takes to sell and not going through the rental process

However, we’re here as your trusted advisor if you have any questions about buying, selling, investing, renting don’t hesitate to reach out to us.

One last thing, interest rates are still amazingly low. We’re actually seeing 30 year rates at 3% or under‼️ It’s a fantastic time so don’t hesitate to reach out!

Estimated home value: https://stlouishomevalues.org

Skip the hassle and sell instantly: https://www.thegellmanteam.com/stlrocketlisting2.php

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