real estate statistics for richmond heights, mo including real estate & housing statistics

8/14/2019 Real Estate Statistics for Richmond Heights, 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]

RICHMOND HEIGHTM

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Median List Price

Median Lot Size

14.1

Percent Relisted (reset DOM)

1467

1.5

0 %

Median Number of Bathrooms

175

Inventory of Properties Listed

$ 146

Percent Flip (price increased)

6,501 - 8,000 sqft

Median House Size (sq ft)

$ 234,500

41 %

3.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

7 %

Percent of Properties with Price Decrease

Strong Buyer's

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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

02940

1361.5

2.0

1

161

3.0 14

145

4

1

0.25 - 0.50acre

$ 182,450

1

0

14

3.5

4,501 -6,500 sqft

02.0

10924,501 -

6,500 sqft

13

$ 141,400

3.0

265

6,501 -8,000 sqft$ 254,900

4.0$ 625,000

1

1650

Inventory and days-on-market areboth trending higher recently.However, the improving MarketAction Index implies some increaseddemand will temper the negativetrends.

Monday February 15, 2010

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

13

1316

1.0

The median list price in RICHMONDHEIGHTS, MO this week is $234,500.

The 54 properties have been on themarket for an average of 175 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 trend

Slight upward trend Slight downward trend±+

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RICHMONHEIGHTS, M

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

54

$ 1,599,000

$ 70,000

$ 314,463

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 Home




City OverviewRICHMON

HEIGHTS, M


Median PricePrices continue their climb again this week. We're a long way from the market's price high-point so watch the Market ActionIndex as an indicator of how long this trend will last.

90-day Average7-day Average

Quartile PricesPricing trends have been lacking strong directional indication lately. Quartile 1 has been trending up recently and Quartile 3 isflat, but unless we see a persistent up-shift in the Market Action Index, they may resume the trend of the rest of the market.

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

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Single Family Hom





HEIGHTS, M


Price per Square FootThis is a market where watching the value metrics (like price per square foot) can provide insight that you don't get at firstglance. Despite the fact that home prices are rising fairly consistently, the price per square foot of homes listed is declining.Often this can be attributed to new and remodeled homes on the market. Buyers in the area are paying more but also gettingmore for their money.


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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Single Family Hom





HEIGHTS, M


Market Action IndexThe RICHMOND HEIGHTS market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 14.12. 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 Buyer’s 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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Single Family Hom




City OverviewRICHMO

HEIGHTS, M


Days on MarketThe properties have been on the market for an average of 175 days. Half of the listings have come newly on the market in thepast 116 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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Single Family Hom

real estate statistics for richmond heights, mo including real estate & housing statistics

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