Community Involvement and Support

Community Involvement and Support is my 9th Commitment to you. I feel it is important for businesses to contribute to the community that it serves, no matter how large or small they are. I enjoy donating time and money to charities and civic groups, such as Habitat for Humanity, Ronald McDonald House, Friends of Kids with Cancer, the USO, and several arts organizations. I will not only extend this habit to my new business, but include you as well!

Watch for announcements in early 2019 on specific plans on how Hoeferkamp Real Estate will go about this, including volunteering at local housing organizations, and donating a percentage of each commission to a charity of your choice. Please tell me where is most important to you!

Downtown STL real estate update

Downtown STL real estate update: The number of sales is steadily climbing, days-on-market are steadily dropping, and prices are making some headway. From 2012 to 2017, the number of units sold – condos/ lofts in high rise buildings – has increased from 96 to 124 (30%), time on market has dropped from median 109 days to 57 (48%), and average sale price increased from $164,839 to $180,818 (10%). YTD numbers for 2018 are indicating a higher number of units sold and not coming off the asking price as much, but an increase in days-on-market and a decrease in price. This could be more of the smaller units selling, or sellers getting more anxious as they sit on the market longer.

I ran the same stats for the Central West End condo market, the only other large concentration of condos/ lofts in the city, especially high-rises. Over the same period, # of units sold rose 87%, almost doubling, days on market dropped 76% to 24 days, and prices went up about the same, 10.2%. Overall the St Louis market had another strong first half of 2018, but a softer 2nd half. I will have complete figures next month to compare. At this point, it seems that the city high-rise market, appreciating at roughly 2% a year, is running about half what the rest of the region’s homes are running, at about 4%.