real estate statistics for chesterfield, mo including real estate & housing statistics

8/14/2019 Real Estate Statistics for Chesterfield, MO Including Real Estate & Housing Statistics

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MARKET UPDATEKelsey Cottrell Realty's

Current Real Estate Market Conditions for Single Family Homes

Trends in Pricing Current Levels of Supply and Demand Value Metrics

Report for the week ofFebruary 15, 2010

Presented by Kevin Cottrell - Office of Chief EconomistKelsey Cottrell Realty Group www.kelseycottrell.com - [email protected]

CHESTERFIELD, MO

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2/21

Median List Price

Median Lot Size

15.3

Percent Relisted (reset DOM)

3160

3.5

7 %

Median Number of Bathrooms

234

Inventory of Properties Listed

$ 158

Percent Flip (price increased)

0.50 - 1.0 acre

Median House Size (sq ft)

$ 532,495

39 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

20 %

Percent of Properties with Price Decrease

Strong Buyer's

==

==

Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

ottom/Fourth

Lower/Third

Upper/Second

Top/First

This Week Real-Time Market Profile Trend

The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

Supply and Demand

Characteristics per Quartile

1 14768

2223.5 2

4.0

14

221

4.0 92

178

2

5

1.0 - 2.5acres

32

$ 425,000

14

0

92

4.5

0.25 - 0.50acre

34.0

2158 0.25 - 0.50acre

92

$ 286,950

4.0

314

0.50 - 1.0acre$ 647,400

4.0$ 1,107,200

11

3697

Demand measured by the MarketAction Index is increasing and days-on-market is trending downward.Even as more properties comeavailable, these are positive trendsfor the market.

Monday February 15, 2010

Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690

92

2864

2.5

The median list price inCHESTERFIELD (MO), MO this week is$532,495. The 368 properties havebeen on the market for an average of234 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.

No change

Strong upward trend Strong downward trendSlight upward trend Slight downward trend+

==

=

CHESTERFIELD, MO

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

368

$ 4,500,000$ 145,000

$ 670,578

19

Trend Key:

The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.

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Single Family Homes in


3/21

Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690City Overview

CHESTERFIELD, M


Median PriceAgain this week we see a downward notch for prices. Prices continue to pull back from the market's highs. The Market ActionIndex is a good leading indicator for the durability of this trend.

90-day Average7-day Average

Quartile PricesMost of the market segments are showing price weakness lately. Notice however, that Quartile 4 at the low-end of the market isstill on an up-trend. Often this condition happens in markets where demand has fallen (for example, due to micro-locationvariables) but supply is still relatively short. Buyers are focusing on the lowest price homes in the area.

First/Top Second/Upper Third/Lower Fourth/Bottom

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4/21


CHESTERFIELD, M


Price per Square FootThe market's downward trends are shared across both price and value. People are recently placing less value on homes (you cansee the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as aprecursor to price and value changes, possibly as inflection points for good investment opportunities.


Inventory of Properties Listed for SaleInventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MarketAction Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.


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5/21


CHESTERFIELD, M


Market Action IndexThe CHESTERFIELD (MO) market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 15.33. With several months of inventory available at the current sales rate, buyers should find ample choice.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months ofinventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall marketshifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole group


Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterized byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyers Advantagezone (below 30) for a long period, prices are likely in for a downward correction.

The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of thecurrent rate of sale versus current inventory.

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6/21


CHESTERFIELD, M


Days on MarketThe properties have been on the market for an average of 234 days. Half of the listings have come newly on the market in thepast 164 or so days.


Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.


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7/21

Median List Price

Median Lot Size

16.7


2747

3.0

5 %


205


$ 144


0.25 - 0.50 acre


$ 369,900

42 %

4.0

Market Action Index



17 %


Strong Buyer's

==

==




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


34262

1542.5

4.0

3

204

4.0 40

207

7

3

0.50 - 1.0acre

32

$ 337,500

9

0

40

4.2

0.25 - 0.50acre

13.5

2087 0.25 - 0.50acre

40

$ 269,450

4.0

256

0.25 - 0.50acre$ 462,400

4.0$ 795,000

6

2976

Demand measured by the MarketAction Index is increasing and days-on-market is trending downward.Even as more properties comeavailable, these are positive trendsfor the market.



39

2560

2.5

The median list price inCHESTERFIELD (MO), MO 63017 thisweek is $369,900. The 159 propertieshave been on the market for anaverage of 205 days.






No change


==

=

CHESTERFIELD, MO 63017

Neighborhood Detail


Average List Price


159

$ 4,500,000$ 169,800

$ 533,582

32

Trend Key:

The market has settled in at arelative stasis in inventory and salesconditions. It's a Buyer's market thathas seen prices trend lower. Expectthat consistent up trends in demandwill be required before price trendschange significantly.

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8/21

Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690Neighborhood Detail



Median PriceAgain this week in this zip code we see a downward notch for prices. We continue to pull back from the market's highs. At thispoint, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.


Quartile PricesIn the quartile market segments, we see prices in this zip code not showing any strong directional trend. Quartiles 1 and 4 aredown, Quartile 2 is at a plateau, while Quartile 3 is up in the last few weeks. We'll need to see strong, persistent shifts (up ordown) in the Market Action Index before being able to determine where this market is heading.


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Market Action IndexThe CHESTERFIELD (MO), 63017 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day MarketAction Index stands at 16.67. With several months of inventory available at the current sales rate, buyers should find amplechoice.


Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.





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12/21

Median List Price

Median Lot Size

10.0


1666

2.0

0 %


76


$ 117


0.25 - 0.50 acre


$ 199,900

40 %

3.0

Market Action Index



0 %


Strong Buyer's

==

==




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


02064

462.0

3.0

1

121

3.0 4

60

0

1

6,501 -8,000 sqft

33

$ 192,450

2

0

4

2.0

0.25 - 0.50acre

02.5

1673 0.25 - 0.50acre

4

$ 158,450

4.0

79

0.25 - 0.50acre$ 209,200

2.0$ 279,900

1

1912

The Market Action Index has beentrending down lately, while inventoryand days-on-market are climbing. Thetrends imply a weakening market.



3

1463

2.0







No change


==

=


Neighborhood Detail


Average List Price


15

$ 319,900$ 145,000

$ 208,640

33

Trend Key:

The market has been consistentlycool for several weeks. Demandlevel are low relative to theavailable inventory. It's a Buyer'smarket and prices continue to fall.Look for a persistent shift in MarketAction before prices plateau or beginto rise again.

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13/21




Median PriceThis week prices in this zip code bumped up a bit but the trend of recent weeks is generally downward. A pickup in demand willbe reflected in the Market Action Index, so watch that chart to try to identify a trough in the market.


Quartile PricesIn the quartile market segments, we see the market's price weakness evident across the board. All four quartiles have been inprice decline in recent weeks. Look to the Market Action Index as a leading indicator of the bottom of the market.


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17/21

Median List Price

Median Lot Size

13.4


3648

4.0

10 %


270


$ 174


0.50 - 1.0 acre


$ 682,400

37 %

4.0

Market Action Index



24 %


Strong Buyer's

==

+




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


1 04826

2024.2

4.0

2

316

4.0 49

250

0

3

1.0 - 2.5acres

8

$ 575,000

6

0

49

4.5

0.50 - 1.0acre

04.2

2850 0.50 - 1.0acre

48

$ 425,000

4.0

313

1.0 - 2.5acres$ 799,950

4.0$ 1,274,500

2

4028

Inventory is up and Market Action istrending down recently. While days-on-market appears to be trendinglower, the overall conditions areweakening a bit.



48

3377

3.0







No change


==

=


Neighborhood Detail


Average List Price


194

$ 3,499,000$ 255,000

$ 818,575

6

Trend Key:

Home sales have been exceedingnew inventory for several weeks.Since this is a Buyer's market pricesare not yet moving higher as excessinventory is consumed. However,the as supply and demand trendscontinue, the market moves into theSeller's zone, and we are likely tosee upward pressure on pricing.

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18/21




Median PriceAgain this week in this zip code we see a downward notch for prices. We continue to pull back from the market's highs. At thispoint, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.


Quartile PricesIn the quartile market segments, we see most of the market for this zip code showing price weakness lately. Notice however,that Quartile 4 at the low-end of the market is still on an up-trend. Often this condition happens in markets where demand hasfallen (for example, due to micro-location variables) but supply is still relatively short. Buyers are focusing on the lowest pricehomes in the area.


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19/21




Price per Square FootDespite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there's a portion of themarket being priced at a premium. You can investigate this condition in the quartile details.




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