4 Reasons Homes Sell During the Holidays

by Chuck Roper 17. December 2018 04:33

It may surprise you to learn that the holidays are a good time to sell a home.  Holiday buyers are enthusiastic and emotional; they are serious buyers, less distracted by busy work schedules.  We find that buyers are motivated by the prospect of beginning a new year in a new home.  Consider these reasons:

 

#1. Year-end corporate transfers 

Corporate transferees schedule home buying trips over the holidays.  

 

#2   Buyers have time off work  

The reality is that when work commitments slow down around the holidays, buyers look online.  Holiday buyers have a sense of urgency to write an acceptable offer before the end of the year.    

 

#3   Homes look their best 

There is nothing like an abundance of lights, a fire in the hearth, the smell of fresh pine and a festive atmosphere to make a home look its best.  As long as it’s not overdone, holiday décor makes a house warm and inviting, which appeals to buyer emotions.

 

#4   Less Competition

Inventory is lower over the holidays; sellers face less competition; and serious buyers are quicker to make a strong offer.   

2017 St Louis Real Estate Market Update

by Chuck Roper 16. August 2017 08:44

With six months of 2017 residential sales data on the books, we examine pricing and segment trends in our St. Louis Real Estate Midyear Report.

In the first half of the year, residential unit sales have increased 2% and prices are up 4%.   Inventory is still hovering at critically low levels.  The lack of inventory is holding back unit sales in some of our strongest neighborhoods.  Low inventory also leads to a seller’s market with intense competition and multiple offers for well-priced homes, a phenomenon true in the middle and low price ranges.  Conversely, the luxury market (defined as homes over $1 million) has ample inventory.  In fact, we are seeing over 8 months of inventory in million+ dollar homes.  While luxury unit sales are modestly growing, prices for luxury homes are flat and in some cases compressed.  Older homes are especially subject to downward price pressure as luxury buyers demand newer floor plans, mint condition and the latest and greatest amenities. 

Click here to read our 2017 Midyear Market Report.

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General | Real Estate Market

Summer Heat in the Real Estate Market

by Chuck Roper 23. June 2017 06:49

How hot is the real estate market in St. Louis?  By most accounts, residential sales are balmy with no signs of cooling off.  In the three counties comprising most of the St. Louis metro, sales are up 2.6% year to date.  Median prices are up 8%.  Lack of inventory is the metric driving up prices, while at the same time, containing sales to single digit increases.  We are down to 2 months of inventory, an all-time low.  In the lower and mid-price range, this translates to multiple contracts.  We have personally experienced up to 7 competing offers on a single listing.

But, as we all know, real estate is intensely local.  Market dynamics vary by school district, by price range and by type of home.  Buyers are more methodical and have more choices when it comes to luxury homes, which we define as homes over $1 million.  In this segment, inventory is not as tight; sales are up about 9% and prices are up about 6% year to date.  I believe there is opportunity for both buyers and sellers in the higher price ranges.

Janet Horlacher

Principal, Janet McAfee Real Estate

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General | Real Estate Market

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