Call ASAP for showings because this one won't last!
Thursday, September 26, 2013
Back On Market!!! Penthouse Gem!
Call ASAP for showings because this one won't last!
Wednesday, September 25, 2013
Summer St Louis Loft Sales
Summer ended this past Sunday afternoon, and it seems like a good time to review the latest Downtown Loft sales data from the MLS.
This summer's loft market was a step in the right direction for the downtown market as well as the overall St. Louis real estate market. Following a very busy winter and spring, we could have seen a plateau in loft sales. Fortunately, that wasn't the case.
While the shift from last summer wasn't dramatic, every metric that we saw showed improvement.
Average sale price rose from $165,278 to $172,528.
Average days on market reduced from 169 to 122.
Average Price per square foot rose from $108.76 to $113.68
Total sales rose from 27 to 31
All that good news, plus there's still 18 units under contract currently.
One thing that has no metric, but has mostly disappeared is the number of people that talk to me about a glut of unsold lofts downtown. Inventory is reduced and we're even starting to see year over year sales with moderate appreciation.
Here are the sales for Summer 2013 from the MLS:
#1112 $36,300
#705 $37,255
#309 $104,000
#713 $92,000
#501 $95,000
#607 $144,000
#612 $148,000
#505 $148,200
#406 $172,000
#501 $200,000
#407 $235,000
#910 $497,500
http://www.4salestlouis.com/downtown-homes/
#504 $216,000
#502 $229,900
#304 $264,000
#404 $263,000
This summer's loft market was a step in the right direction for the downtown market as well as the overall St. Louis real estate market. Following a very busy winter and spring, we could have seen a plateau in loft sales. Fortunately, that wasn't the case.
While the shift from last summer wasn't dramatic, every metric that we saw showed improvement.
Average sale price rose from $165,278 to $172,528.
Average days on market reduced from 169 to 122.
Average Price per square foot rose from $108.76 to $113.68
Total sales rose from 27 to 31
All that good news, plus there's still 18 units under contract currently.
One thing that has no metric, but has mostly disappeared is the number of people that talk to me about a glut of unsold lofts downtown. Inventory is reduced and we're even starting to see year over year sales with moderate appreciation.
Here are the sales for Summer 2013 from the MLS:
Blu City Spaces 210 N 17th Street
#1207 $27,600#1112 $36,300
#705 $37,255
Knickerbocker Lofts 507 N 13th Street
#308 $57,000#309 $104,000
Lofts at 2020 (Sporting News Lofts) 2020 Washington Avenue
#104 $85,000#713 $92,000
#501 $95,000
#607 $144,000
Terra Cotta Lofts 1501 Locust Street
#201 $101,50Railway Lofts 1619 Washington Avenue
#304 $223,500
Meridian Lofts 1136 Washington Avenue
#505 $148,200
#406 $172,000
#501 $200,000
#407 $235,000
#910 $497,500
http://www.4salestlouis.com/downtown-homes/Printer's Lofts 1611 Locust Street
#606 $200,000#504 $216,000
Printer's Lofts 1627 Locust Street
#401 $152,000
Moon Bros Lofts 721 N 17th Street
#206 $154,000
McGowan Lofts 1219 Washington Avenue
#510 $147,000
Banker's Lofts 901 Washington Avenue
#205 $225,000#502 $229,900
#304 $264,000
10th Street Lofts 1010 Saint Charles Street
#1001 $225,500Dorsa Lofts 1015 Washington Avenue
#305 $260,000#404 $263,000
Syndicate Condominiums 915 Olive Street
#1201 $193,950Elder Shirt Lofts 703 North 13th Street
#407 $258,500Eden Lofts 1720 Chouteau Avenue
#304 $82,600
Monday, September 16, 2013
Homeless Town Hall Meeting Tomorrow Night -- Be There Loft Dwellers!
In 2004, we started working downtown by listing a really cool loft at the Knickerbocker Lofts.
At that point, the downtown neighborhood was a doormat. There seemingly was an editorial slant that people living downtown were arrogant and whiny; called "loft dwellers" they were presented negatively. Problems in other areas had neighborhood feedback and referred to residents, concerned citizens, or home owners.
Other than the media bias, the Downtown and Downtown West neighborhoods seemed were the dumping grounds for the area. Visitors to the neighborhood would urinate on buildings and drop trash and think it was ok. Even worse, Downtown St Louis seemed to be the solution to all other areas vagrancy problems. It wasn't uncommon to see police cars from outside the city dropping off "new downtown residents" to shelters around the neighborhood.
Our listing at the Knickerbocker gave us a front row seat for some of the problems downtown; especially that of homelessness.
In those days, Lucas Park was the scene of most problems with the homeless. Being homeless itself isn't what bothered the residents downtown, but public urination, public intoxication, public bathing in park fountains, pan-handling, drug dealing, sleeping on park benches, loitering and illegal feeding stations were problems that wear on people. Downtown residents were looking for a change. That's where the media bias came in. Any effort to address the problems associated with the homeless created a classic battle between the "haves" and the "have nots", both in the press, with City Government and with the Police. City government was even more complicated in that the Downtown Neighborhood has three different Alderman and the neighborhood was seemingly on the 'outskirts' of all three wards. Lastly, population was a problem. Downtown wasn't very populous (about 3500 folks), so it was easy for various entities to view any problem as minor since it didn't involve many people. Thankfully, things have changed since 2004.
Homelessness and its side effects are still downtown. The voice of the downtown residents and business owners have been heard by the city and downtown continues to improve.
Now the Downtown Population is around 14,000, and the voice of the downtown residents continues to be important.
Tomorrow night there is a meeting where the voice of downtown residents will be particularly useful.
Downtown Hall Meeting
9/17/2013
Christ Church Cathedral 1210 Locust Street
7-8:30pm
According to the flyer, there will be a brief presentation followed by a town hall discussion.
Without downtown residents at meetings like this, the meetings can be largely dominated by folks with their heart in the right place, but with little realistic perspective on what the homeless problems are and worse off, no concern for the well being of Downtown St. Louis neighborhood.
So for those of you who care about the continued improvement of the downtown area and the increase in downtown real estate values, plan on being there. Especially if you are willing to participate in the discussion. What we don't need is a one sided discussion without the voice of the downtown residents.
At that point, the downtown neighborhood was a doormat. There seemingly was an editorial slant that people living downtown were arrogant and whiny; called "loft dwellers" they were presented negatively. Problems in other areas had neighborhood feedback and referred to residents, concerned citizens, or home owners.
Other than the media bias, the Downtown and Downtown West neighborhoods seemed were the dumping grounds for the area. Visitors to the neighborhood would urinate on buildings and drop trash and think it was ok. Even worse, Downtown St Louis seemed to be the solution to all other areas vagrancy problems. It wasn't uncommon to see police cars from outside the city dropping off "new downtown residents" to shelters around the neighborhood.
Our listing at the Knickerbocker gave us a front row seat for some of the problems downtown; especially that of homelessness.
In those days, Lucas Park was the scene of most problems with the homeless. Being homeless itself isn't what bothered the residents downtown, but public urination, public intoxication, public bathing in park fountains, pan-handling, drug dealing, sleeping on park benches, loitering and illegal feeding stations were problems that wear on people. Downtown residents were looking for a change. That's where the media bias came in. Any effort to address the problems associated with the homeless created a classic battle between the "haves" and the "have nots", both in the press, with City Government and with the Police. City government was even more complicated in that the Downtown Neighborhood has three different Alderman and the neighborhood was seemingly on the 'outskirts' of all three wards. Lastly, population was a problem. Downtown wasn't very populous (about 3500 folks), so it was easy for various entities to view any problem as minor since it didn't involve many people. Thankfully, things have changed since 2004.
Homelessness and its side effects are still downtown. The voice of the downtown residents and business owners have been heard by the city and downtown continues to improve.
Now the Downtown Population is around 14,000, and the voice of the downtown residents continues to be important.
Tomorrow night there is a meeting where the voice of downtown residents will be particularly useful.
Downtown Hall Meeting
9/17/2013
Christ Church Cathedral 1210 Locust Street
7-8:30pm
According to the flyer, there will be a brief presentation followed by a town hall discussion.
Without downtown residents at meetings like this, the meetings can be largely dominated by folks with their heart in the right place, but with little realistic perspective on what the homeless problems are and worse off, no concern for the well being of Downtown St. Louis neighborhood.
So for those of you who care about the continued improvement of the downtown area and the increase in downtown real estate values, plan on being there. Especially if you are willing to participate in the discussion. What we don't need is a one sided discussion without the voice of the downtown residents.
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