THE CURRENT OUTLOOK OF ST. LOUIS REAL ESTATE
Jan. 16, 2018
It involves browsing countless listings and conducting neighborhood research. What follows is often one of many realtor meetings, home inspections and walk-throughs. Regardless of which step future homeowners find themselves taking, they generally all have one goal in mind: to find the perfect home. While some spots on the nation’s map are certainly seeing major housing booms, the St. Louis area is going through its own housing market challenges.
Recently, potential buyers and experts alike have stressed that the future of housing in the city could see some future changes. While some agree that this post-recession popularity of home ownership may see a plummet, others predict the growth will only continue as more Missouri residents value the prospect of buying houses.
Just weeks ago, The St. Louis Post-Dispatch announced that the city of Clayton, Missouri is becoming a prized one in terms of house hunting. Downtown Clayton rests on property worth millions, according to the article, and many consider the area to be promising in real estate. The area has become so popular that some realtors are concerned about lack of sites, as businesses have also taken an interest in properties. A surface parking lot and police headquarters are two other recent property purchases in the county.
Most see growth in general as a positive step in community success. KMOV News reminds potential buyers, however, that the current housing market is rather tight. According to KMOV, most houses in St. Louis cost between $150,000 and $225,000; while some sites may be tempting to scoop up quickly, experts urge house hunters to work with trusted professionals to ensure they complete every essential step. Housing in this area appears to be a hot commodity, so it is important to plan all aspects of the buying process wisely.