Homes ‘sold immediately’ in 2014 in MRH district: broker

The average sale price for homes in the Maplewood Richmond Heights School District in 2014 were down a bit from 2013, according to real estate broker Kay Basta, with Clarity Street Reality, Barb Summers Group.

Basta attributed the dip in sales to last year’s long winter. She said the snow in March hurt the early spring market, too.

The chart is calculated from approximately 740 listings.

Average home sale price January 2011 to December 2014

Average home sale price January 2011 to December 2014

 

Basta said the average cumulative days on market (CDOM) definitely showed an improvement in 2014.

“Homes that were updated and priced correctly sold immediately and we experienced multiple offer situations again in late 13 and 2014,” she said.

She said in 2010 first time home-buyers received the $8,000 federal tax credit at closing, so that year cleared up a lot of old inventory along with foreclosed properties. It was the first sign of improvement since the downturn.

Cumulative days on market, January 2011 to December 2014

Cumulative days on market, January 2011 to December 2014

 

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