Spring sales have been strong – My business is ahead of last year, and homes are selling at a brisk pace, but do not think they are all selling over list price, that is still the exception. Certain areas and price ranges have a heavier demand and higher percentage of multiple offers, but many buyers shy away from competing bids, and are waiting for the initial rush to die off after one or two weeks, then revisit.
Mortgage rates have eased down to 4.0% on a 30 yr fixed no points, down from 4.25% a month ago.
The Economist last week wrote “Millennials Really like St Louis“, citing us as the 4th most popular metro for this age group in the country, ahead of Chicago, Seattle and most others. That follows our recognition this year for the nation’s best park, best zoo, and best custard. Young buyer appeal has been evidenced by the strong home sales this spring. Way to go St Louis!!
Condo/villa sales continue to pick up, due to 3 main factors: rising single family prices, walkability access to desirable areas, and increasing desire for simplification and low maintenance lifestyles.
For the sixth consecutive year, Coldwell Banker Gundaker and NRT LLC’s parent company, Realogy, has received the prestigious designation of being named among the World’s Most Ethical Companies. This award, presented by the Ethisphere® Institute, highlights companies that outperform their industry peers for ethical conduct. As part of Realogy and the NRT family of companies, Coldwell Banker Gundaker strives to set the standard for ethical conduct in the market.
Happy spring cleaning!
Gary Hoeferkamp, Broker - Owner of Hoeferkamp Real Estate 