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 St. Louis homes for sale have seen a steady rise in values since 2000. The median price for Saint Luois homes for sale have risen from about $94,000 to just under $150,000 over the past 7 years. That's a healthy 7% annualized appreciation in the St. Louis homes for sale market. As a whole, the St. Louis area still falls below the national index of $256,000. However, there are some exceptional neighborhoods in and around Saint Louis which are well above the St. Louis homes for sale median values. Huntleigh has appreciated over 9% annually while Ladue has appreciated nearly 8% annually and is currently one of the most expensive neighborhoods in the United States.
The spring 2007 St. Louis homes for sale market seems to be heading in a very good direction. There are several great St. Louis homes for sale going on the market and prices are still good. Several St. Louis homes for sale are selling within the first month on the market. New St. Louis homes for sale construction projects are moving at a fast pace and for very ambitious pricing in some cases.
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St. Louis homes for sale are currently considered medium-priced for the area, ranging from $ 80,000 to $ 220,000. St. Louis homes sales are picking up, but very slowly. Buyers do have more choices and can use more discretion when searching for their prefered St. Louis homes for sale. Currently it takes longer to sell, ranging from approximately 3-5 months in the slowest parts of the city, and there are more foreclosures than before. Landlords are very happy as there are more good tenants and it's been easier to rent! Overall, rents in Saint Louis have increased by about 5-7%. St. Louis homes for sale prices have declined slightly by about 5-8% in some neighborhoods and they are selling at 2004 values. Mortgage Rates are also going down lately, just like everywhere else. The St. Louis homes for sale market still maintains a better value ratio than in many other cities and homes are still extremely affordable.
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