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2017 St. Louis Housing Forecast

by The Linda Frierdich Group - Century 21 Advantage

 

2017 St. Louis Real Estate Forecast

 

2016 was a great year for real estate, and, as we look ahead to 2017, there are general predictions that can be made, both nationally and locally.  While national trends always have an effect on local markets, that doesn’t mean that what happens nationally will apply to anyone’s local market across the board.  However, to better understand and expect what’s to come in your local market, it’s important to keep in mind what’s happening nationally.

 

 

Realtor.com® has presented a comprehensive list of expectations for the 2017 national housing market.  In this forecast, they have indicated some important trends.  Over the last few years, the real estate market has been growing rapidly.  This trend is expected to slow in 2017, but, although that seems alarming to the state of the housing market, it actually indicates that the market is finally stabilizing.  The national real estate market is expected to slow in 2017, but it is also expected to maintain moderate growth.  Nationally, home prices are expected to increase 3.9%, and existing home sales are expected to increase 1.9%.  These are both great announcements for sellers, because it translates to the fact that sellers will be, generally, getting more money for their homes in the coming year.  For buyers, there may be indications that the time to Buy in the US is earlier in the year, because interest rates are expected to reach 4.5% this year.  Realtor.com® is also forecasting that home ownership rates will stabilize at 63.5% after bottoming out at 63.9% in 2016.  They are also forecasting that new home sales are expected to grow 10%

 

There are certain trends that are driving the 2017 market predictions.  For instance, there will be a surge in buyers, leading to a seller’s market, due to the fact that many people will be looking to Buy homes this year.  There are two major demographics expecting to drive the market, Millennials and Baby Boomers.  Millennials have reached an age where they are thinking about marriage and children, leading them to desire home ownership over rental.  Baby Boomers, on the other hand, are thinking about downsizing, now that they are looking toward retirement and their kids have grown and left their homes.  These two huge groups will comprise the majority of the market this year.  Also predicted by Realtor.com® is that there are expected to be fewer homes on the market, leading to fast-moving markets.

The above information, predictions, and statistics all provided by Realtor.com® (http://www.realtor.com/news/trends/top-real-estate-trends-2017/)

 

Looking forward to 2017 on a local level is best done by looking back to the numbers for the end of 2016 by St. Louis REALTORS®.  Anyone close to the housing market can tell you that November is historically a slower month in home sales, but that was far from the truth for November 2016, when home sales jumped an incredible 31%.  Comparatively, 1,438 homes sold in November 2016, while in 2015, 1,094 homes sold.  Even with strong sales, home prices remained affordable at $164,500, despite a slight increase from the previous November, when the median sales price was $150,000.  The amount of time that homes were on the market also decreased from 172 to 117 in November 2016 from November 2015.

 

According to John Gormley, St. Louis REALTORS® CEO, there are two trends that drove this jump in sales for November 2016.  St. Louis is maintaining a level of affordable housing, and buyers are also concerned about rising interest rates, driving them to take the plunge and enter the market.  “Those two drivers served as the underpinnings of our whopping double-digit home sales growth in November.  We’ve discussed the remarkable housing affordability in St. Louis throughout 2016.  Obviously, buyers have been listening and paying attention to the Federal Reserve’s public comments about raising interest rates,” says Gormley. (http://www.stlrealtors.com/wp-content/uploads/November2016HousingReportpressrelease.pdf).  As indicated by the national predictions, it is likely that these circumstances will continue driving trends for 2017, as well.

 

As for the 2017 outlook, it looks strong, but if there’s anything that November 2017 taught us, it’s that sometimes the best predictions can be wrong.  “It’s true no one knows exactly what interest rates will do in the coming year, but there’s a good bet they won’t be going down.  So, if you’ve been waiting to Buy a home, it’s time to jump off the fence as mortgage rates are expected to increase at least two or three times next year,” Gormley continues.  “What that means for buyers in St. Louis is that it’s time to engage a St. Louis REALTOR® to find your home and lock in the best rate now, so you can Buy the home you want at a price you can afford.” (http://www.stlrealtors.com/wp-content/uploads/November2016HousingReportpressrelease.pdf).

The above information, predictions, and statistics all provided by St. Louis REALTORS® (http://www.stlrealtors.com/wp-content/uploads/November2016HousingReportpressrelease.pdf)

 

 

Century 21 Advantage Gives Back for the Holidays

by The Linda Frierdich Group - Century 21 Advantage

 

Giving Is Better Than Receiving

 

Century 21 Advantage Office Adopts Local Family for the Holidays 

 


This holiday season, the office of Century 21 Advantage donated time, money, and gifts to a needy family for Christmas.  This time of year tends to make us all feel grateful for the people, things, and circumstances in our lives, but it’s often easy to get caught up in that and forget that there are many others out there who aren’t having the same holiday experience.  When a mother struggles to pay her bills to keep a roof over her children’s heads, it’s difficult for her to give them the Christmas she feels they deserve. 

 

Partnering with a variety of local organizations and the St. Louis Post Dispatch, the United Way compiles a list every year that details the “Neediest Cases” around the St. Louis metro area, on both sides of the river.  It was through this program that the office of Century 21 Advantage learned about a local single mother who was struggling to financially provide for her family of five children, despite working three jobs.  The office decided to adopt this large case, because Century 21 is a fairly large office, and it resonated with all involved that the kids were facing the prospect of having no gifts on Christmas morning.  So, the office got into contact with Big Brothers Big Sisters of Southwestern Illinois, the organization that was handling the family’s case, and began collecting donations.  The office is proud to announce that they were able to raise enough money to get all the kids a variety of gifts, a stocking filled with goodies and toys, a TV, a laptop (so the kids could do homework), and one of our office mates even donated their WII and a variety of games.  There was even enough left over to give the family in hopes that it could put a dent in their debt and perhaps stop the eviction in progress. 

 

These events that encourage us at the office to give back are so important, because it is so easy to get caught up in our own busy lives and forget about all the people in our own community that are struggling.  It is not only humbling and inspiring to participate in programs like these, it’s also so important that we support our neighbors, because that’s what being a member of a community is all about.  The office of Century 21 Advantage is so happy to get the privilege of helping others, especially during the holiday season, to keep us grounded and involved.  We all feel very lucky to be able to give back to others, because that means that we have a lot to be thankful for in our own lives.

 

We’d like to thank all of the agents in our office who participated in this program, as well as the family and friends that also donated money and goods to help this family have a wonderful Christmas.  Also, we’d like to thank The United Way, The St. Louis Post Dispatch, Big Brothers Big Sisters of Southwestern Illinois (in particular, Nancy Rivera, who was our contact through the adoption process and was beyond helpful), and the Century 21 Advantage office that allows us to put working hours into events and programs like this.

 

If you would like to learn more about the 100 Neediest Cases program, click here

If you would like to learn more about Big Brothers Big Sisters & what you can do to help, click here.

 

Things to Do in the Area this Weekend

by The Linda Frierdich Group - Century 21 Advantage

 

Events Happening this Weekend

 

This weekend brings on the last weekend before the official start of the holiday weekend, and there are so many events happening locally to help ring in the season!  Here are a few of the exciting things taking place in the Metro area this weekend!

 

 


Anheuser Busch Brewery Lights

 

This event, which is a huge hit in the St. Louis area, is back again this year, and it returns with a few added features!  Visitors can still enjoy the free self-guided tours down Pestalozzi Street and around the historic Anheuser-Busch Brewery.  Guests who are 21 and older receive a wristband for five 5oz samples of a variety of beers, and any hungry visitors can stop at one of the food stations in the Biergarten, where you can find a variety of dishes.  Visitors can also get a jump start on their holiday shopping, because there are a number of vendors selling crafted items at the Stella Artois Market.  New this year is the Bud Light Ice Rink, where skaters can glide along under the red glow of the Budweiser sign on the Bevo Packaging Plant.  Other attractions include the S’mores Station, sand and ice sculptures, and the chance to reserve a private fire pit for up to 8 guests, featuring wait service and 2 printed photos included in the price!

 

Anheuser-Busch Brewery Lights 2016

 

November 17 – January 1

5-10 pm

Every Thursday, Friday, Saturday, & Sunday

(Excluding Thanksgiving Day, Christmas Eve, Christmas Day, and New Year’s Eve)

1200 Lynch Street

St. Louis, MO 63118

 

For further details, click here.

 

 

Missouri Botanical Garden’s Garden Glow

 

This popular event is a gem of a St. Louis tradition.  Though it only began in recent years, its popularity has caught on quick.  Visitors can walk through the Missouri Botanical Garden and view the gorgeous light display, surrounded by lovely plants and mature trees.  Along the path, visitors can find food and drink stations with a variety of drinks, including the ever popular holiday drinks hot chocolate and egg nog (while also featuring alcoholic beverages, as well).  Along the way, visitors can find themselves around an area with fire pits to gather ‘round while listening to the live carolers featured in this event.  If you have never been, it’d be a great year to give the Garden Glow a visit—you’ll likely make it part of your holiday tradition from here on out. 

 

Missouri Botanical Gardens’ Garden Glow

The Garden Glow opens to Botanical Garden members on Nov. 18 & to the general public Nov. 19, and it runs through January 1.  It is closed Christmas Eve and Christmas Day.

Hours: 5-10 pm (last entry at 9 pm)

4344 Shaw Blvd.

St. Louis, MO 63110

 

For tickets and more information, click here.

 

 

Belleville Flea Market

 

Get some holiday shopping done early by attending this unique event featuring a variety of products.  Vendors will be situated both outside and inside the Belle-Clair Fairgrounds, and the event boasts over 600 tables and 300-400 vendors selling antiques, collectibles, and merchandise, both old and new!  Shoppers can head to this event and get some of their holiday shopping done early, and they will find so much variety of products and price ranges.  Parking costs $3.00, but admission to the Flea Market is free!

 

Belleville Flea Market

November 19 & 20

9:00 am – 4:00 pm

200 South Belt East

Belleville, IL 62220

 

For more information, click here.

 

 

Santa’s Express Train Ride

 

The St. Louis Union Station always puts on a great holiday event, and this year it hosts with a ‘Twas the Night Before Christmas theme.  Although the train ride is the main focus of this event, there are plenty of other attractions to make your visit even better, including spectacular holiday décor, North Pole Village and activities, ice skating, and the new Fire & Light show!  The centerpiece of the event, the Santa Express Train Ride, takes ticket holders on a train ride out of the St. Louis Union Station to view the wonderful holiday features along the way. 

 

Santa’s Express Train Ride at Union Station

Wednesdays-Sundays, November 18-December 30

Trains leave the station at:

4:45, 6:15, 7:30, 8:30

1820 Market Street

St. Louis, MO 63103

 

For tickets and more information, click here.

 

There are so many great things to do this weekend to get ready for the holiday season to come!  If you're one of those who likes to wait until after Thanksgiving to begin your holiday celebrations, all of these events, except the Flea Market, are open through the end of December or beginning of January, so you've got some time!  

 


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Photo of The Linda Frierdich Real Estate Group Real Estate
The Linda Frierdich Real Estate Group
Century 21 Advantage
103 S Main St
Columbia IL 62236
IL: 618.281.7621

138 Concord Plaza Dr
Saint Louis MO 63128
MO: 314.649.0221
Fax: 618.281.4311

Linda Frierdich is the area's premier real estate professional, offering services in St Louis, Kirkwood, Webster Groves, Crestwood, Ballwin, Arnold, Fenton, Oakville, Columbia, Waterloo, Millstadt, Valmeyer, Dupo, Belleville, O'Fallon, Mascoutah, Fairview Heights, Smithton, Ruma, Hecker, New Athens, Edwardsville, Collinsville, Caseyville, Shiloh, Swansea, Monroe County, Madison County, St Clair County, and Randolph County.  Her team focuses on resale homes, new construction, first time home buyers, condos, farms, land sales, subdivisions, lot sales, single family, multi-family, commercial, foreclosures, bank owned property, military relocation, and building. This site offers options to search real estate in Columbia Illinois and other areas. We offer buyer and sellers services second to none!

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