why are pricing dropping so dramatically in the South Hampton area?

Asked by Travis, Fri Nov 8, 2013

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Eric Bronner, , Saint Louis, MO
Fri Nov 8, 2013
Hi Travis, I'm familiar with South Hampton, but I'm not aware of any significant price decreases in this area as a whole. Certainly individually houses may have decreased in value based on a variety of factors (market conditions, number of distressed properties nearby, changes in zoning, etc). Overall, since the market's nadir in 2011, home values in St. Louis City have not recovered as quickly as parts of St. Louis County. And, while the market is improving, the changes in the St. Louis market overthe past year or so, as a whole, have been very incremental. Please feel free to contact me regarding a specific property, or with any additional questions.
1 vote
Tonja Neal, Agent, Saint Louis, MO
Mon Nov 11, 2013
Hi Travis. Are you looking to sale a home? I wouldn't mind helping. We can research the home prices in the area you live or seek to live.
0 votes
Stephanie Hug, Agent, Saint Louis, MO
Sat Nov 9, 2013
The average sales price in 2010 in South Hampton was $150,150. In 2011 it was $132.231, 2012 was $128,832 and for 2013 through today, the average is $143,047. So prices are moving in the right direction. A lot the averages are affected by low priced foreclosures which bring down the numbers. If you look at a specific property for sale and notice it's price continues to reduce, it is due to the house being priced above it's value from the get-go or under-conditioned. It is not because it's specific value is going down as time passed. Also worth noting - the number of homes that are selling in South Hampton each year increased in 2012 and we have already well-surpassed that number for 2013 with almost 2 months left. That's good news!
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