The last edition of the St. Louis Real Estate Examiner looked at the St. Louis market from a buyer’s perspective. Now we turn our attention to the opposite goal: selling a home.
Sellers whose homes are in a promising market may be already aware their properties will command serious cash in 2014, for the simple reason that the areas with the current highest selling prices are the usual suspects: Town and Country, Ladue, and Frontenac.
With a median price of over one million, homes in Town and Country and Ladue in particular will require some careful marketing—but the rewards will be great for any owner or agent who manages to do so. Check out this list in the St. Louis Business Journal of eligible St. Louis mansions to find out what’s for sale in this market.
In comparison, Frontenac is a relative bargain from a buyer’s perspective at a 917,854-dollar median price. Clayton and Des Peres also make an appearance in this price range. Homes in Clayton have one added distinction: they are some of the most upscale properties buyers will find east of 170.
Other areas with good prospects in 2014 are further west. One name that will surprise long-time residents is Chesterfield. Once considered the Wild West of St. Louis real estate, it has filled out nicely since its residents voted to incorporate twenty years ago. These days it occupies the tenth most-expensive slot, with an average selling price of 389,004 dollars.
At one point, homes in the far western suburbs of the Lou were among the area’s least expensive, but this is clearly not the case anymore. Even as far west at Saint Albans, residents who are planning a move in 2014 can expect a great return on their investment.
As good as it will be to buy in 2014, it’s an even better year to sell. With a strong market, the average home in St. Louis is selling for as much as 97 percent of the original list price. For more information on the area’s priciest markets—and to find out if your home would make the cut—check the St. Louis Real Estate Search.