2009 Market Conditions Report for Condos and Lofts Sold in Lafayette Square (St. Louis City, Missouri)

LAFAYETTE SQUARE HOUSING REPORT - 2009 CONDO SALES

Interested in purchasing or selling a condominium in Lafayette Square? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or send an e-mail to Ryan@PREASignatureRealty.com. Or, visit our website at www.PREASignatureRealty.com or our blog at www.LafayetteReport.com.

HISTORICAL TRENDS

The Lafayette Square housing market as a whole continues to outperform compared to trends in the St. Louis City and St. Louis Metropolitan Statistical Area. Despite this good news, condominium sales in Lafayette Square remain flat compared to 2009. Here are some general comments about trends in the Lafayette Square housing market relating to condominium sales:

• Condominium sales in Lafayette Square remain flat with 2009 condominium sales to be slightly above the sales volume for 2008 condominium sales.
• The average sales price for condominiums in Lafayette Square in 2009 fell 19% compared to 2008.
• The average per square foot price for condominiums sold in Lafayette Square remained flat from at $122 per square foot in 2009 compared to $128 per square foot in 2008.
• The sales price to list price ratio for condo sold in Lafayette Square remained constant at historical levels of approximately 95% of list price in 2009.
• The average number of days on market for condominium sales in Lafayette Square spiked from 182 days in 2008 to 252 days in 2009.
• It is unclear what impact new construction sales in Lafayette Square has had on the overall condo statistics. Developers in Lafayette Square report new construction sales in different manners with some sales not listed in MLS and other sales included in MLS but reported as withdrawn as opposed to sold.

2009 MARKET DATA

Interested in listing your condo or loft in Lafayette Square for sale? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or send an e-mail to Ryan@PREASignatureRealty.com.