St. Louis Loft Market Continues to Improve
As we watch our economy continue its recovery from the Great Recession the news continues to be positive for St. Louis real estate. Many areas of the country are seeing double digit increases in home sold and property values. The St. Louis Loft market is witnessing improvements just not in the double digit range. Why you ask? Well, St. Louis did not take the hit that many cities across the country realized. That is not to say that homeowners haven’t felt the sting of a depressed market for the past several years. Not at all. All you had to do at the peak of the recession was to count the number of short sales and foreclosures. In reality, St. Louis is seeing improving home values. Since we weren’t as deep in the hole as many other areas of the country we aren’t seeing the larger jumps in values.
Today is a great time to purchase real estate. We are beginning to see buyers enter the market while interest rates remain in the sub-4% range. Prognosticators expect rates to inch slowly back towards 4% by year end. At the same time sellers are putting their lofts, condos and homes on the market sooner this year. No more waiting for the Spring. It is refreshing to see just a renewed enthusiasm in the market.
This is also the time of year when we see a large influx of new teachers and doctors to the area. Right now, doctors are interviewing with area medical facilities for residencies, fellowships and other key positions. In early March we see what is referred to as Match Day. The time when all of these doctors receive their job offers. And guess what? They all need a place to live. Teachers are coming to St. Louis for the Teach for America program as they orient into our community, complete their training and are assigned to a St. Louis Public School for the upcoming year.
Regardless of your need, St. Louis Premier Lofts can assist in your real estate transaction. Contact us today by clicking on the Contact tab on the first page. We will reach out to you right away. You won’t be disappointed.