why are there so many homes being sold in 63385?

Asked by cvdamico, Wentzville, MO Fri Mar 30, 2012

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Allison’s answer
Allison, Renter, Saint Louis, MO
Thu Jun 21, 2012
There is a lot of new development, but still has a small town feel. I imagine this is causing home prices to increase leading to potential sellers taking that step. It may also be that people who once lived "out in the country" are feeling crowed by all the new development and moving further west. There is also a lot of new, just built homes. My best guess would be population growth is the cause of so many homes for sale. There is nothing bad about Wentzville or anything that would send residents fleeing!
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Dale Weir, Agent, Chesterfield, MO
Fri Mar 30, 2012
In the Greater St Louis area, we have seen a real surge in demand in all most all zip code areas. Buyers are tired of waiting. The prices are low. The interest rates are low, but it they are planning on using an FHA loan, the PMI payments are about to go up which will limit their buying power. The supply of homes on the market is DOWN to a 7 month supply (a balanced market is a 6 month supply and we were up to over a 12 month supply for awhile) so there are fewer homes to chose from.

Homes that are prepared properly to go on the market and then priced correctly are selling in less than a month.

So, it's not just 63385 that is seeing a lot of homes being sold, it's the entire St Louis Market Place
0 votes
Roland and L…, Agent, Saint Charles, MO
Fri Mar 30, 2012
Most of the Sellers in Wentzville have realized that pricing their homes to sell in today's market get results.
I don't mean that they are giving them away....simply that they are pricing their homes within the range that the market suggests their homes are worth. Given that they are on the outskirts of the St Louis Metro area they are less likely to see results if they were to try and beat the market with an over priced home.
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