Fall sales have held strong, – I have sold 3 homes in the last 4 weeks heading into the holidays, all in the Parkway South, Manchester – 63021 submarket. The number of homes on the market continues to be tight heading into winter, with many buyers choosing this time of year to buy rather than the more competitive spring and summer markets. Home price appreciation appears to be in the 4% range for the year for St Louis, continuing a steady move upward since 2012, recapturing the lost equity for so many homeowners from 2008-2011.
Since the election two weeks ago, mortgage rates have moved up significantly from 3.5% to 4.0% on a 30 year fixed. If you long for the days in the low 3s, you can still get a 15 yr fixed at 3.25%.
The St Louis area added 3500 jobs in October, as the metro employment continues to grow at the fastest pace in 20 years. The Bureau of Labor Statistics show a gain of 32,500 jobs in the metro over the last 12 months, amounting to a 2.6% increase, well ahead of the US average of 1.7%.
In between holiday prep and gatherings, don’t forget to perform a few pre-winter tasks on your home — pool and irrigation system closings, disconnect outside hoses, have the chimney and gutters cleaned, change furnace filter (and smoke alarm batteries if you did not at time change), and get the snow shovel ready!
Our annual office Thanks dinner for the Des Peres Police and Fire was today. We appreciate all the police and fire district personnel around STL and the country!
Gary Hoeferkamp, Broker - Owner of Hoeferkamp Real Estate 