Clayton Housing Market - Best in 5 Years?

Our market is off to a great start this year.  In fact, things are going so well that some worry-warts in the national press are even bringing up the "b" word.  We think they're grasping for attention-grabbing headlines.  Just like we did above...see what we did there?  St. Louis is seeing nothing close to a bubble, but we are seeing signs of a healthy market.  We have not swung too far or too fast but many of our buyers are certainly feeling a sense of urgency that has not been present in years. 

Home prices in Clayton remain strong.  The average Sale Price (per square foot) continues to hover around $205, yet we are seeing premiums far above that for the best properties and we expect the full year average to be a good bit above that as well.  Unit Volume is even at 22 sales but velocity is increasing as we head into the Spring.  Accordingly, Days-On-Market has dropped.

The percent of Sale-Price-to-Asking-Price has increased markedly to 93% from 89%.  Sellers are having to discount less as currently there is low inventory.  The market for homes listed above $1M is also moving and is experiencing great demand. 

Robb Partners is experiencing multiple offer scenarios (even for off-market listings).  We're also seeing buyers paying above asking price and have experienced at least one good-old-fashioned bidding war.

Take a look at one of the newest to hit the market:  8420 Kingsbury located in Clayton Gardens. 

We're also pleased to report great strides in Clayton's condo market.  Reality is now ahead of the data at Marylnd Walk, so here's a great buy for a 3 bedroom/2.5 bathroom: 8025 Maryland Ave, #5B, Clayton, MO

In this dynamic moment, as conditions improve, the reality of the market will be ahead of the data.  This makes expert advice from seasoned professionals as important as ever.  For information on additional areas or specific properties, contact us directly.  Whatever your 2013 plans may be, it is not too soon to get started or too late for a second opinion!

If you have questions about a particular area, neighborhood or property, please feel free to contact Sabrina Robb for additional information.  314-283-7590  srobb@robbpartners.com

Please follow my weekly Real Estate blog every Wednesday for the latest on Unique, Distinctive and Historic properties!   To see more and to keep up with the latest real estate news and most sought after homes for sale, please visit my website at www.robbpartners.com. 

About this Column: The market data is pulled from the Mid America Regional Information System.  All information is deemed reliable but not guaranteed.