High-End Home Sales Increasing in St. Louis
(EMAILWIRE.COM, June 29, 2013 ) Orlando, FL -- Real estate experts in the St. Louis metropolitan area have been reporting that this year luxury home sales have been picking up. The high-end category is now much less of a buyers market than it was in the housing downturn.
Janet McAfee Inc. real estate agent, Kevin Hurley, has been selling homes in the area since long before the market collapse and he considers the market to be rebounding -- particularly this year, he said. The more realistic pricing the downturn created, the discharge of restricted buyer demand and the willingness of banks to lend to qualified buyers have finally come together, Hurley added.
Median price levels this year have returned to 2009 figures, when the downturn was at its peak. According to Prudential Alliance, houses selling for more than one million dollars had a median price tag of one point four million in May. That is the highest level the median has been since May of 2009. However, there were sixteen of these homes sold in the first five months of last year and only fifteen sold in the first five months of this year.
The bottom has been hit and were slowing coming back. Hurley thinks. I dont think prices are going to go way up but at least houses are moving. He also thinks that rock bottom interest rates and the recent rise in home values are prompting some business executives to act now. It gives them the confidence that the property will be worth more when it is time to sell and move on to their next position. Hurley concluded, A couple of my buyers are from out of town, out-of-town buyers consider St. Louis a very affordable market. And I think thats helped a lot.
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