Like any market, the real estate market has peaks and valleys. Understanding the current real estate market trends will make you a better-informed homebuyer, seller or investor. Here are the St. Charles County, Missouri real estate market statistics that you need to know from the first half of 2017.
Number of Homes for Sale
As this chart shows, the most number of active real estate listings occurs in late spring and early summer. In 2017, the number of homes listed for sale in January was 1050, while currently there are about 1485 homes listed for sale in the St. Charles County area of Missouri. But when you compare the number of homes for sale in the first half of the year to the two previous years, you can see that 2017 has fewer homes on the market. These conditions point to a sellers market, where there are a similar number of homebuyers looking for homes and a smaller number of homes listed for sale.
Average Sales Price
Due to a similar number of homebuyers and fewer home sellers, the average sales price of a residential property in St. Charles County, Missouri has increased. So far, every month of 2017 has seen increases in residential real estate sale prices compared to the previous two years. If you’ve been thinking about listing a residential property for sale, now is a great time.
Percentage of Original Price Received for a Residential Property
While sellers like to get the most money they can for their property, buyers want to pay the least they can for a home. Through the negotiation process the price received for residential real estate is often a little less than the original price for which the property was listed. The first half of 2017 shows that with more competition for residential properties, sellers are netting more money for their homes.
Days On Market
Another indicator of a sellers market is a decreasing number of days a home listed for sale is on the market. The first half of 2017 is currently outpacing the first half of the previous two years with shortest number of days on market. In these conditions there is often more than one buyer looking at and bidding on each home. Homebuyers are sometimes learning this the hard way, when they try to see a home for sale and find out that it already has an accepted contract.
Homebuyers should be prepared when looking at homes to act quickly when they find a home they like and prepare for possible bidding wars with other buyers. Working with a great buyers agent, like the buyers agents on The Boehmer Team, will increase a homebuyer’s chances of finding a great property for sale before it is sold.
Contact The Boehmer Team for expert home buying or investing assistance. We know the St. Charles County, Missouri real estate market and have information on homes that are not yet listed for sale. Or if you are ready to get the most from a residential home sale in the current market, contact us to help with a smooth home selling experience.