Ringing in the new year, the downtown loft market has a lot to be cheerful about.
For those looking for the prices to bounce back to 2007 levels, we're still not there, but the real estate market has strengthened in 2012 and is back on the right track. Sales are at a 4 year high based on number of lofts sold (102). In 2008, when there were 109 lofts sold, there were 583 lofts on the market compared to 277 this year.
While pricing isn't going through the roof just yet, we did see an increase in prices this year. Lofts sold at an average of $113.37 per square foot, up from $109 per square foot last year.
While the sales news for the entire year may not be worthy of any major excitement, average price per square foot for the fourth quarter 2012 jumped to $131.55/square foot.
Several things are encouraging for the years to come:
- As progress continues downtown, the number of condominiums probably won't be increasing - creating more demand.
- Our recent REALTOR Magazine had exciting news about how FHA loans are becoming more "condo friendly" with the possibility of allowing for "spot approvals" in the future.
- MEDIA RULES - the downturn seemed to be exacerbated by the fact that news about the downturn was broadcast 24/7 with articles trying to over dramatize the state of the real estate market. Lately, positive news seems to be having the opposite effect on the public.
Here are the Downtown St Louis Lofts sold in 2012:
#610 $29,995
#908 $29,995
#411 $30,000
#403 $37,000
#305 $42,000
#404 $44,995
#1210 $50,000
#803 $54,995
#406 $55,000
#312 $59,995
#204 $78,023
#604 $84,000
#703 $85,000
#711 $101,000
#313 $105,000
#201 $105,500
#803 $128,500
#714 $133,000
#706 $137,750
#101 $205,000
#405 $96,750
#406 $94,000
#503 $99,000
#804 $171,500
#707 $200,000
#912 $222,500
#209 $102,000
#710 $156,000
#712 $168,500
#903 $215,000
#1404 $120,000
#1604 $120,000
#1601 $129,900
#1808 $145,000
#1101 $165,000
#1403 $230,000
#608 $175,000
#601 $184,000
#303 $195,000
#704 $390,900
#803 $240,000
#1102 $350,001
#1004 $416,800
#302 $240,000
#304 $249,000
#1206 $242,000
#1203 $246,500
#1114 $275,000
#1113 $290,000
#1216 $300,000
#1202 $330,000
#1504 $218,000
#1410 $226,200
#1308 $226,900
#1310 $230,900
#1207 $237,800
#1305 $315,000
#1612 $448,200
Here's to a brighter 2013 in the Downtown Market!
Blu City Spaces 210 N 17th Street
#911 $28,500#610 $29,995
#908 $29,995
#411 $30,000
#403 $37,000
#305 $42,000
#404 $44,995
#1210 $50,000
#803 $54,995
#406 $55,000
#312 $59,995
Knickerbocker Lofts 507 N 13th Street
#502 $49,100#204 $78,023
Lofts at 2020 (Sporting News Lofts) 2020 Washington Avenue
#605 $83,000#604 $84,000
#703 $85,000
#711 $101,000
#313 $105,000
#201 $105,500
#803 $128,500
#714 $133,000
#706 $137,750
#101 $205,000
Motor Lofts 2201 Washington Avenue
#208 $51,000
#408 $83,000
#408 $83,000
Westgate Lofts 410 N Jefferson Blvd. / 2323 Locust Street
#307 $80,000#405 $96,750
#406 $94,000
Terra Cotta Lofts 1501 Locust Street
#402 $94,000#503 $99,000
#804 $171,500
#707 $200,000
Ventana Lofts 1635 Washington Avenue
#509 $100,100#912 $222,500
Railway Lofts 1619 Washington Avenue
#603 $120,000
#405 $157,000
#505 $169,000
#705 $191,000
#304 $195,764
#802 $140,500
Kingbee Lofts 1709 Washington Avenue
#602 $69,900
Windows Lofts 1601 Washington Avenue
#304 $140,500
#210 $155,000
Meridian Lofts 1136 Washington Avenue
#710 $156,000
#712 $168,500
#903 $215,000
Lucas Lofts 1123 Washington Avenue
#409 $110,000
#304 $112,500
#308 $117,050
#216 $152,000
#308 $117,050
#216 $152,000
#716 $159,430
#215 $311,000
Marquette Condominiums 314 N Broadway
#1805 $100,000#1404 $120,000
#1604 $120,000
#1601 $129,900
#1808 $145,000
#1101 $165,000
#1403 $230,000
Ely Walker Lofts 1520 Washington Avenue
#316 $153,500#608 $175,000
Printer's Lofts 1611 Locust Street
#502 $165,000#601 $184,000
#303 $195,000
Printer's Lofts 1627 Locust Street
#305 $158,000
#406 $163,000
Annex Lofts 1511 Locust Street
#508 $90,000
#806 $115,000
Alexander Lofts 1121 Locust Street
#302 $372,000
Banker's Lofts 901 Washington Avenue
#505 $200,000#704 $390,900
10th Street Lofts 1010 Saint Charles Street
#703 $120,000#803 $240,000
#1102 $350,001
#1004 $416,800
Dorsa Lofts 1015 Washington Avenue
#509 $119,795#302 $240,000
#304 $249,000
Edison Condominiums 400 S 14th Street
#1108 $229,000#1206 $242,000
#1203 $246,500
#1114 $275,000
#1113 $290,000
#1216 $300,000
#1202 $330,000
Syndicate Condominiums 915 Olive Street
#1502 $193,950#1504 $218,000
#1410 $226,200
#1308 $226,900
#1310 $230,900
#1207 $237,800
#1305 $315,000
#1612 $448,200
Elder Shirt Lofts 703 North 13th Street
#503 $455,000Here's to a brighter 2013 in the Downtown Market!
