Thursday, December 29, 2005
Buyer's or Seller's Market
Tonight a client asked if right now was a buyer's or seller's market downtown.
I was thrown off by the question. The resale market has been extremely busy of late.
Despite that, its hard to really say that a market with so much room for expansion and so many options is truly a seller's market. While the resale and many of the developments sales are bustling, some projects sales aren't so active.
To sum up, and of course, in my own opinion; if you're waiting until spring to sell your loft.....don't! There are buyer's in the market looking for a place to call home now. Is everything on the market jumping off within 30 days? Not hardly. Lofts still can take more time to sell due to the specific expectation of the buyer. Most buyer's continue to view lofts more critically than other types of housing in St. Louis.
Compared to other parts of town though, the loft market is alive and well during this traditionally slow time of year.