Can you say HOT!
Yes it is!! The weather and the real estate market. One is good, the other—not so much!
So there is no denying it is hot as I write edition number twelve, which seems a bit surreal. I decided to get into the real estate business after Kim died and I wanted something to help fill my days.
Brad was back in St. Louis, moving his business from Florida to STL. I asked him if he wanted an assistant. The rest, so they say, is history. It has been hard work, fun, interesting, and beneficial to both of us.
In fact, I love it!!
Thanks for helping the Blankenship Team have a HOT first year in the St. Louis Real Estate Market!
Nine Hot Real Estate Markets in St. Louis
So, speaking of HOT, what is hot in the real estate world? First, here are the hottest markets in the region according to Dennis Norman, at the St. Louis Real Estate News.
|Municipality||# of sold listings||Average Days on Market|
Overall home sales in the STL region are up 2.08% from the previous 12 months. The average home cost has seen a 4.0% increase. In St. Louis City and County sales are up 3.67% and price is up 3.75.
So, what else is hot in real estate—the Coming Soon Strategy!
The use of this strategy can be very beneficial to the sellers. What happens is that the seller’s agent lists the property in the MLS as ‘Coming Soon.” You can only do this for a limited number of days before the property becomes active.
They put out “Coming Soon” signs, and market the upcoming property. While it is in “Coming Soon” status no one can view the home. They are building interest, fielding calls, talking up the property. Usually what happens next is the property becomes viewable and on the market on a Saturday, there is an Open House on Sunday and the seller’s agent announces that all offers will be taken Sunday night or Monday morning.
Of course, there are variations.
The hope is that they have generated enough interest to garner multiple offers and to hopefully get a bidding war going. All good for the seller!! Of course if there is a bidding war, not good for the buyer.
On the plus side, the decision making progress happens quickly and buyers and sellers appreciate that aspect. This strategy is being used in the hottest market areas and has been quite successful.
No, not all houses sell in one weekend, but we are sure seeing a great number that do!!