The Shaw Neighborhood is Truly a Seller's Market, RIGHT NOW!

Recently, I went to a class that taught real estate agents how to price property based upon how many months worth of inventory was available in a particular market (neighborhood) using past sold data. Basically, you take how many houses have sold in a 6 month period, divide that number by the 6 (for 6 months) and then you come up with the average number of sales per month. Then you look at how many houses are currently on the market and divide that by 6 (number of months), this formula will give you an idea of how many months worth of inventory is currently on the market. I know that this seems like a mind boggling math brain murdering fest, but I assure you it is rather simple. We just want to know, how fast can the current inventory be absorbed into the market. Anything less than a six month supply, is considered a Seller's Market.

Here is Zan Monroe, the man I took the class from explaining it on YOUTUBE. I will be making my videos shortly, but I wanted to get this information out as quickly as I could.

As soon as I got home, I started running numbers for my favorite neighborhoods for the last 12, 6 and 3 months. This gave me an awesome idea of where the market was heading in a particular area, AKA The Market Trend. Local market trends are much more accurate than the national data that gets pumped to us by the media. What is happening in Arizona may not be happening in St. Louis. St. Louis is such a highly segmented market, and trends will vary neighborhood by neighborhood, and school district by school district. What is happening currently in Shaw, may not be occurring in Dutchtown. Knowing which markets were considered to be Seller's Markets, and which were Buyer's Markets help all of my clients tremendously. Being able to analyze the trends helps people for whom timelines are very important.

SO, WHY IS SHAW A SELLER'S MARKET?

Simply, because the numbers say so...

In the last 12 months there were 67 houses sold in Shaw
67/12 months=5.5 houses sold per month
Currently, there are 13 houses ACTIVE FOR SALE on the Market
13 available houses/5.5 houses per month = 2.36 months of inventory on the market currently A STRONG SELLER'S MARKET!

Now, of course there is much more that goes into it. Different price-points will have different rates of absorption. When pricing a house for sale factor like condition, past sales, features, number of houses that flowed through the market and competition all come into play. BUT, if you live in Shaw you may have a better chance than most to GET IT SOLD!

If you would like more information on buying or selling in Shaw, or any other St. Louis City Neighborhood feel free to drop me a line! Leigh Maibes 314-324-3322 or lmaibes@gmail.com