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Thursday September 17, 2009

St. Louis Area Condos - Townhomes - TICs


This Week
Real-Time Market Profile Trend
Median List Price $ 84,900 ≠≠
Asking Price Per Square Foot $ 84 ≠≠
The median list price in FLORISSANT, MO this week is $84,900. Average Days on Market (DOM) 232 ≠≠
Percent of Properties with Price Decrease 37 %
Percent Relisted (reset DOM) 11 %
Inventory is tightening and days-on-market is falling. The Market
Action Index shows demand heating up. These are relatively bullish Percent Flip (price increased) 5%
signs for prices. Median House Size (sq ft) 1034
Median Number of Bedrooms 2.0
Median Number of Bathrooms 2.0
Market Action Strong Buyer's 15.4 ==

Supply and Demand

Home sales have been exceeding new inventory for several weeks. ±+ No change == Strong upward ≠≠ Strong downward
However because of excess inventory, prices have not yet stopped
falling. Should the sales trend continue, expect prices to level off
= Slight upward ≠ Slight downward trend
soon and potentially to resume their climb from there. Watch

prices as the market transitions from a Buyer's market to a Seller's

Market Action Index Again this week in this zip code we see a downward notch for
prices. Pricing has been weak in recent weeks and versus their
absolute-high level. At this point, we will be looking for a
persistent upward shift in the Market Action Index as a leading
indicator for a trough in prices.

Price Trends

7-Day Rolling Average 90-Day Rolling Buyer/Seller Cutoff

The Market Action Index answers the question "How's the

Market?" By measuring the current rate of sale versus the
amount of the inventory. Index above 30 implies Seller's
Market conditions. Below 30, conditions favor the buyer.

7-Day Rolling Average 90-Day Rolling

Chacteristics per Quartile Investigate the market in quartiles -

where each quartile is 25% of homes
ordered by price.
Quartile Median Price Square Feet Beds Baths Age Inventory New Absorbed DOM

Top/First $ 153,400 1282 3.0 2.5 20 16 0 4 265 Most expensive 25% of properties

Upper/Second $ 97,450 1181 2.0 2.0 60 16 3 1 213 Upper-middle 25% of properties

Lower/Third $ 75,000 902 2.0 2.0 50 16 1 2 212 Lower-middle 25% of properties

Bottom/Fourt $ 47,900 918 2.0 1.0 17 4 1 239 Least expensive 25% of properties

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