City of Clayton MO Real Estate Market Rebounds
It’s almost hard to believe that there are actually some bidding contests between buyers in the St. Louis Real Estate Market. The St. Louis Post Dispatch recently reported that it’s starting to happen in the Clayton Real Estate Market. One home buyer wrote a passionate letter to a seller offering a $15,000 premium on a home on Aberdeen Place.
Good News for Clayton MO Real Estate Market
Is this a sign of a turn-around in the market? Some people think so. St. Louis County single family home sales are down about 2.6 percent this year, while Clayton Real Estate sales are up 37 percent through the month of September compared with the first 9 months of 2010. The average sale price for a home in Clayton($689,833) rose 7 percent while nationally prices fell 1.8 percent to $195,256.
Statistics show a total of 97 homes sold so far this year in the Clayton School District which is nearly double the number in 2009. The Clayton area could break the 117 sold homes mark experienced in 2006 which was a peak year.
Is the Clayton Real Estate Market Bucking the Trend?
When people drive through Clayton and see the beautiful brick homes and are aware of their top-rated schools, they assume that prices will be higher than other areas. The article quoted William Rogers, an associate professor of economics at the University of Missouri in St. Louis who studies the housing market: “If a lot of people believe the Clayton market is the most stable, it means prices will be higher, making it a self-fulfilling prophecy.”
Bill Emmons, an economist and vice president at the Federal Reserve here in St. Louis, said the presence of multiple bidders on some Clayton homes could show that “the turning point is here and the bottom has been reached” in the market. The Post Dispatch went on to quote him as saying, “Cocktail chatter” and news may overly affect peoples’ decisions to buy or sell homes. Near-record low interest rates are also allowing some buyers to get mortgages large enough to afford Clayton. People with good credit and “a significant amount of equity” are still readily able to get financed.
Clayton MO Homes for Sale
The links below will take you directly to the current inventory of Clayton Homes for Sale
Like to know more about the Clayton area? Call Finding Homes for You at 636-532-4200.
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