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Lafayette High School - Wildwood, MO - Market Report for January - August 2011
Residents in the Lafayette High School district know we are fortunate to live in a top-notch school district set in an area of rolling hills with much preserved green space. Lafayette residents have close proximity to Wildwood Town Center, Hidden Valley Ski Resort, and the shopping and dining clustered in the Chesterfield Valley and in and around Chesterfield Mall.
As a real estate agent who lives and works in the area, I am frequently asked about what's happening in the market, so at two-thirds of the way through 2011, here are the highs and lows of our market this year.
Lowest priced home sale: $87,000 on Maple Lane, sold from an estate, after 24 days on the market
Highest priced home sale: $2.625MM on Wild Horse Creek Road, 12,000+ square feet, after 266 days on the market
Shortest time on the market: Three homes tied at three days, one in Pointe Clayton sold at $367,000; one in Highland Summit sold for $394,000, and one in Westhampton Woods at $407,650. All of these homes sold at more than 95% of original list price.
Longest time on the market: Not surprisingly, most of the homes that took the longest to sell were in the upper end of the market; there just aren't as many buyers for $1MM+ homes. The "winner" in longevity is a home on Rieger Road selling for $1.125MM after 643 days on the market, realizing 80.36% of the original list price.
Looking for averages? These numbers apply to single family homes in the district:
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Jan – Aug 2011
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Jan - Aug 2011
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% of Change
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Number of Sales
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191
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227
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-15.86%
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Sale Price
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$393,088
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$401,679
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-2.14%
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Original Price
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$415,819
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$422,318
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-1.54%
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Sale Price / Original Price
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94.5%
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95.1%
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-0.6%
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Square Feet
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2806
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2898
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-0.03%
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Sale Price / Square Foot
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$129
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$133
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-3.0%
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Original Price / Square Foot
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$135
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$139
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-2.88%
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Days on Market
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92
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99
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-7.07%
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What about foreclosures and short sales (in a short sale, the bank agrees to accept less than what the seller owes on the property) in the district? The Lafayette area had 24 foreclosures out of 191 sales, or 12.5% or sales, and 7 short sales, or 3.7%. As is the case in most areas of metropolitan St. Louis, foreclosures and short sales are significantly higher in the lower price ranges of homes in our district. Although homes under $200,000 comprised 15.9% of sales so far this year, 42% of the foreclosures and short sales fell in this category.
Even within the Lafayette district, each neighborhood has its own set of statistics. If you are curious about the numbers for your subdivision, or your home in particular, let me know. I keep a detailed spreadsheet of all sales within the district and would be happy to tell you how they apply to you.
new jobs for the area and improvements in the overall market.
