Is This the Time to Buy St Louis West County Real Estate?
If you’re wondering if this is the time to buy St. Louis West County Real Estate you may want to take a look at historical trends. History often repeats itself and the chart above is a reflection of what usually happens this time of year. You can see the timeline at the bottom of the chart and the red line represents the median price for a home in St Louis West County.
What is the Buy Zone?
The “Buy Zone” is represented in the chart’s red arrow. It’s that time where the market is still a little stagnant after the holidays, inventory is a little lower, and prices have not yet escalated before the heat of the St Louis West County real estate buying and selling season starts. If you can find something in this timeframe you could end up a happy camper.
Pricing of any item is determined by supply and demand: how many items are available in relationship to how many want to buy that item. (remember Cabbage Patch Dolls or Beanie Babies) The chart above provides a guideline showing who is favored during times of low, even, or high amounts of home inventory.
1-5 month supply of homes favors sellers with prices or appreciation rising.
5-6 month supply is considered a balanced market place where prices have stabilized.
6+ month supply favors the buyers and represents depreciation of home prices.
Knowing these numbers can be helpful to you as a buyer to know which way the wind is blowing as you enter the St Louis West County market.
Current and Past Supply of Homes in St. Louis West County
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