We’re half way into 2020 and boy,
has it been a roller coaster ride! A pandemic, a recession, an
election year and more have made it a VERY memorable and life changing year. But
despite our ever-changing external environment, one thing has stayed constant –
the need for a home. The pandemic has caused us to spend more time at home than
ever and made housing that meets our needs more important than ever. So despite
everything, the housing market has remained strong and a good investment in
2020.
Signs of a strong real estate
market are backed up with hard data. Take a look at the below charts showing
how the 2020 St. Charles County, Missouri real estate market is performing so
far. We hope this information will be
valuable for you to make the best real estate decisions for you and your family.
Number of Homes for Sale
This first chart showing active
real estate listings by month over the past three years ends on a down
trajectory. This means that there are not as many homes available for sale as
there have been mid-year in the past three years. The low availability of
listings and continued demand from homebuyers point to a continued sellers
market.
Median Sales Price
This chart shows that home prices
are still growing. If you’ve been thinking about listing a residential property
for sale, now is a great time to get a lot of value from the sale. If you’re
thinking of buying a home, now is also a great time to take advantage of still
low historic rates and purchase a home before housing prices increase even
more.
Original Listing Price Versus Sales
Price
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 final price received for a home is often a little less than the original price the property was listed. The first half of 2020 shows that buyers are negotiating better deals for themselves than the previous three years as the gap of list price to sale price has widened a little.
Days On Market
This chart shows that the number of days a home is on the market tend to be shorter in the warm months than in the cold months. Currently we are seeing shorter days on the market that are similar to the same time last year. A smaller number of days on market is another indicator of a sellers market.
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In summary, this data points to continued
gains in home prices and continued competition among homebuyers for the real
estate listings that are available. Our friends in the home building industry
say they are ramping up home building to help offer more new home options for
buyers. If you have a home to sell, now is a great time. If you are buying a
home, be prepared to act quickly when you find “the one” as you may face a lot
of competition.
Working with a great buyers agent,
like the buyers agents on The Boehmer Team, will also increase homebuyers’
chances of procuring the perfect home. Contact The Boehmer Team for expert home
selling and buying assistance. We know the St. Charles County, Missouri real
estate market and even have information on homes that are not yet listed for
sale.
