Happy New Year!
Celebrating the 2019 Downtown Loft Market
The year and decade ending yesterday was a fascinating year for downtown St. Louis residential real estate. I couldn't help but compare it to the ending of the prior decade in 2009. I'll never forget 2009, because, as a loft owner and Realtor, I was experiencing shock. Prices began to level off in 2006-7, and were flat. The stock market crashed in fall of 2008, and prices started falling. So did the number of sales. We had 28 lofts listed for sale the day the stock market crashed, buyer's dried up like ice cubes in Arizona, and seller's didnt' seem to be aware that our countries real estate market was in the midst of a dive. They wanted answers that we didn't have. 2009 felt like the end of the end, but in retrospect, prices started falling more drastically as the year went on, and continued a bigger slide the following years. 2009 wasn't as bad as we thought.
Fast forward a decade, prices have never climbed like they did in the years prior to the recession. Buyer's considering the downtown market view it as an affordable place to own a great, modern urban residence. Some of the challenges that started in the great recession are resolving themselves, and things are continuing to move forward. In 2019, the biggest game changer was the mass sale of units in the Packard Lofts, changing it from a mostly rental building, to an almost 100% owner occupied, warrantable building. The only drawback to such a fast turn around, like the Dorsa FDIC sale of 2011, was that the market was essentially flooded with below market lofts. The opposite strategy was employed at the Syndicate, which also sold out last year, while maintaining an above average price per square foot. Anything that adds more homeowners to the neighborhood is a good thing, and that's a huge win for 2019!
 |
| What factors may have led to a surge in Downtown Sales in 2019? 🙄🤔 |
In 2019, there were 160 downtown loft sales according to the MLS, the highest number of sales in a year since 2007(182 sales) ! Another exciting statistic was the lowest average days on market of 95 days. While downtown, and condos in general have always lagged substantially behind the overall real estate market, the downtown market DOM average usually hoovers closer to 200 days, than 100. Having more sales, faster, is a nice change of pace!
2019 wasn't the year of the big loft. Out of so many sales, there were only 4 penthouses sold, and overall size range was about 200 sq ft lower than average (1317 sq ft). When out showing lofts this year, we encountered more singles and almost no couples.
The Downtown market continues to move forward with another year in the books, and many great new reasons to enjoy our downtown on the horizon!
Here are the 2019 Loft sales downtown!
| 10/24/2019 |
Unit#502 |
8 |
$385,000.00 |
3 |
2 (2 0) |
2,545 |
| 04/12/2019 |
Unit #404 |
6 |
$201,000.00 |
2 |
2 (2 0) |
1,970 |
| 03/07/2019 |
Unit #302 |
0 |
$225,000.00 |
1 |
2 (2 0) |
2,439 |
| 12/30/2019 |
Unit #401 |
572 |
$155,000.00 |
1 |
2 (2 0) |
1,804 |
| 03/15/2019 |
Unit #205 |
0 |
$145,000.00 |
2 |
2 (2 0) |
1,404 |
| 02/26/2019 |
Unit #202 |
39 |
$235,000.00 |
2 |
2 (2 0) |
2,439 |
| 04/19/2019 |
Unit #412 |
0 |
$95,000.00 |
1 |
1 (1 0) |
985 |
| 06/20/2019 |
Unit #411 |
0 |
$88,500.00 |
1 |
1 (1 0) |
900 |
| 06/18/2019 |
Unit #407 |
0 |
$116,000.00 |
2 |
2 (2 0) |
1,160 |
| 04/26/2019 |
Unit #308 |
85 |
$114,500.00 |
2 |
2 (2 0) |
1,140 |
| 06/28/2019 |
Unit #307 |
0 |
$113,500.00 |
2 |
2 (2 0) |
1,160 |
| 06/07/2019 |
Unit #207 |
36 |
$116,000.00 |
2 |
2 (2 0) |
1,160 |
| 02/20/2019 |
Unit #205 |
23 |
$118,000.00 |
2 |
2 (2 0) |
1,230 |
| 04/04/2019 |
Unit #204 |
5 |
$78,000.00 |
1 |
1 (1 0) |
765 |
| 06/07/2019 |
Unit #202 |
0 |
$121,000.00 |
2 |
1 (1 0) |
1,220 |
| 01/17/2019 |
Unit #201 |
68 |
$117,000.00 |
2 |
1 (1 0) |
1,180 |
| 05/03/2019 |
Unit #304 |
0 |
$75,000.00 |
1 |
1 (1 0) |
765 |
| 07/01/2019 |
Unit #309 |
18 |
$145,000.00 |
2 |
2 (2 0) |
1,400 |
date sold, Unit #, Days on market, sale price, beds / baths, sq ft.
| 08/21/2019 |
Unit #302 |
35 |
$72,500.00 |
2 |
1 (1 0) |
814 |
| 02/19/2019 |
Unit #208 |
69 |
$43,500.00 |
0 |
1 (1 0) |
429 |
| 08/06/2019 |
Unit #1408 |
28 |
$45,000.00 |
0 |
1 (1 0) |
427 |
| 02/20/2019 |
Unit #1106 |
111 |
$64,000.00 |
1 |
1 (1 0) |
648 |
| 09/16/2019 |
Unit #901 |
0 |
$80,000.00 |
2 |
1 (1 0) |
814 |
| 11/08/2019 |
Unit #609 |
52 |
$47,500.00 |
0 |
1 (1 0) |
427 |
| 01/15/2019 |
Unit #510 |
1 |
$36,000.00 |
0 |
1 (1 0) |
427 |
| 12/31/2018 |
Unit #508 |
0 |
$35,000.00 |
0 |
1 (1 0) |
428 |
| 01/10/2019 |
Unit #310 |
61 |
$36,500.00 |
0 |
1 (1 0) |
427 |
| 02/01/2019 |
Unit #308 |
113 |
$38,000.00 |
0 |
1 (1 0) |
427 |
| 01/17/2019 |
Unit #1108 |
7 |
$39,000.00 |
0 |
1 (1 0) |
427 |
| 05/20/2019 |
Unit #1005 |
87 |
$50,000.00 |
1 |
1 (1 0) |
648 |
date sold, Unit #, Days on market, price,beds / baths, sq ft.
| 10/24/2019 |
Unit #702 |
8 |
$71,000.00 |
1 |
1 (1 0) |
823 |
| 03/12/2019 |
Unit #607 |
32 |
$95,000.00 |
1 |
1 (1 0) |
985 |
| 10/11/2019 |
Unit #505 |
63 |
$89,500.00 |
1 |
1 (1 0) |
968 |
| 08/15/2019 |
Unit #402 |
377 |
$71,000.00 |
1 |
1 (1 0) |
795 |
| 08/02/2019 |
Unit #307 |
30 |
$92,500.00 |
1 |
1 (1 0) |
986 |
| | | | | | | |
|
| 04/15/2019 |
Unit #710 |
57 |
$115,000.00 |
1 |
1 (1 0) |
937 |
| 07/11/2019 |
Unit #610 |
291 |
$118,000.00 |
1 |
1 (1 0) |
1,003 |
| 02/28/2019 |
Unit #604 |
23 |
$145,000.00 |
2 |
2 (2 0) |
1,158 |
| 05/23/2019 |
Unit #511 |
229 |
$145,000.00 |
1 |
1 (1 0) |
1,095 |
| 09/16/2019 |
Unit #509 |
0 |
$126,000.00 |
1 |
1 (1 0) |
1,077 |
| 12/31/2019 |
Unit #503 |
218 |
$119,000.00 |
1 |
1 (1 0) |
907 |
| 02/22/2019 |
Unit #411 |
73 |
$123,000.00 |
1 |
1 (1 0) |
1,095 |
| 08/15/2019 |
Unit #302 |
388 |
$113,500.00 |
1 |
1 (1 0) |
1,023 |
| 11/01/2019 |
Unit #101 |
187 |
$225,000.00 |
3 |
2 (2 0) |
2,067 |
Motor Lofts 2207 Washington Avenue
| 09/05/2019 |
Unit #412 |
218 |
$92,000.00 |
2 |
1 (1 0) |
1,004 |
| 11/06/2019 |
Unit #302 |
458 |
$110,000.00 |
2 |
2 (2 0) |
1,358 |
Westgate Lofts 410 N Jefferson Blvd. / 2323 Locust Street
| 07/18/2019 |
Penthouse #600 |
80 |
$401,500.00 |
2 |
2 (2 0) |
2,366 |
| 05/17/2019 |
Unit #406 |
91 |
$140,000.00 |
1 |
1 (1 0) |
1,348 |
| 06/19/2019 |
Unit #312 |
89 |
$147,000.00 |
2 |
1 (1 0) |
1,295 |
Terra Cotta Lofts 1501 Locust Street
| 07/22/2019 |
Unit #806 |
14 |
$130,000.00 |
2 |
2 (2 0) |
1,471 |
| 03/22/2019 |
Unit #402 |
324 |
$104,000.00 |
1 |
1 (1 0) |
980 |
| 12/18/2019 |
Unit #205 |
348 |
$147,000.00 |
2 |
2 (2 0) |
1,495 |
| 05/06/2019 |
Unit #204 |
198 |
$170,000.00 |
2 |
2 (2 0) |
1,642 |
| 04/30/2019 |
Unit #1208 |
202 |
$186,000.00 |
2 |
2 (2 0) |
1,732 |
| 12/10/2019 |
Unit #1202 |
99 |
$137,000.00 |
1 |
1 (1 0) |
1,314 |
| 08/01/2019 |
Unit #1102 |
5 |
$99,000.00 |
1 |
1 (1 0) |
1,050 |
| 02/11/2019 |
Unit #805 |
92 |
$174,000.00 |
2 |
2 (2 0) |
1,495 |
| 03/28/2019 |
Unit #708 |
249 |
$166,000.00 |
2 |
2 (2 0) |
1,732 |
None (better luck in 2020!)
| 09/19/2019 |
Unit #902 |
367 |
$260,000.00 |
3 |
2 (2 0) |
2,475 |
| 09/19/2019 |
Unit #805 |
176 |
$197,000.00 |
2 |
2 (2 0) |
1,627 |
| 09/20/2019 |
Unit #702 |
159 |
$215,000.00 |
2 |
2 (2 0) |
1,680 |
| 06/28/2019 |
Unit #604 |
6 |
$160,000.00 |
1 |
2 (2 0) |
1,595 |
| 11/05/2019 |
Unit #402 |
60 |
$215,000.00 |
2 |
2 (2 0) |
1,680 |
| 04/25/2019 |
Unit #304 |
31 |
$163,000.00 |
2 |
2 (2 0) |
1,595 |
| 07/10/2019 |
Unit #303 |
290 |
$163,000.00 |
2 |
2 (2 0) |
1,339 |
| 08/28/2019 |
Unit #407 |
105 |
$111,000.00 |
2 |
1 (1 0) |
1,086 |
| 04/25/2019 |
Unit #407 |
180 |
$120,000.00 |
2 |
1 (1 0) |
1,086 |
| 01/16/2019 |
Unit #307 |
131 |
$117,500.00 |
2 |
1 (1 0) |
1,081 |
| 05/14/2019 |
Unit #907 |
150 |
$216,000.00 |
2 |
2 (2 0) |
1,509 |
| 11/21/2019 |
Unit #706 |
151 |
$138,000.00 |
2 |
2 (2 0) |
1,218 |
| 06/11/2019 |
Unit #704 |
195 |
$159,000.00 |
2 |
2 (2 0) |
1,254 |
| 12/27/2019 |
Unit #607 |
0 |
$214,000.00 |
2 |
2 (2 0) |
1,506 |
| 06/14/2019 |
Unit #510 |
5 |
$145,000.00 |
2 |
2 (2 0) |
1,243 |
| 02/14/2019 |
Unit #412 |
94 |
$133,400.00 |
2 |
2 (2 0) |
1,133 |
| 05/01/2019 |
Unit #404 |
32 |
$153,000.00 |
2 |
2 (2 0) |
1,254 |
| 12/30/2019 |
Unit #403 |
69 |
$185,000.00 |
2 |
2 (2 0) |
1,411 |
| 12/16/2019 |
Unit #311 |
7 |
$75,000.00 |
1 |
1 (1 0) |
781 |
| 02/22/2019 |
Unit #300 |
203 |
$140,000.00 |
2 |
2 (2 0) |
1,075 |
Lucas Lofts 1123 Washington Avenue
| 12/27/2019 |
Unit #504 |
60 |
$152,500.00 |
1 |
1 (1 0) |
1,115 |
| 07/12/2019 |
Unit #716 |
0 |
$145,000.00 |
2 |
2 (2 0) |
1,522 |
| 05/22/2019 |
Unit #709 |
67 |
$128,500.00 |
1 |
1 (1 0) |
1,053 |
| 09/03/2019 |
Unit #417 |
28 |
$172,000.00 |
2 |
1 (1 0) |
1,556 |
| 10/11/2019 |
Unit #306 |
35 |
$182,500.00 |
2 |
2 (2 0) |
1,169 |
| 07/25/2019 |
Unit #410 |
80 |
$124,000.00 |
1 |
1 (1 0) |
1,146 |
| 05/06/2019 |
Unit #714 |
61 |
$144,000.00 |
2 |
1 (1 0) |
1,430 |
| 05/31/2019 |
Unit #616 |
6 |
$145,000.00 |
2 |
1 (1 0) |
1,522 |
| 07/03/2019 |
Unit #608 |
54 |
$152,500.00 |
2 |
1 (1 0) |
1,131 |
| 04/12/2019 |
Unit #516 |
27 |
$147,000.00 |
2 |
1 (1 0) |
1,531 |
| 08/12/2019 |
Unit #305 |
36 |
$152,000.00 |
2 |
1 (1 0) |
1,247 |
| 01/08/2019 |
Unit #702 |
258 |
$248,000.00 |
3 |
2 (2 0) |
2,030 |
| 05/06/2019 |
Unit #1101 |
30 |
$295,000.00 |
2 |
2 (2 0) |
2,163 |
| 08/23/2019 |
Unit #504 |
95 |
$155,000.00 |
2 |
2 (2 0) |
1,240 |
| 05/28/2019 |
Unit #410 |
5 |
$107,500.00 |
1 |
1 (1 0) |
880 |
| 06/04/2019 |
Unit #303 |
10 |
$143,500.00 |
2 |
2 (2 0) |
1,403 |
| 07/09/2019 |
Unit #101 |
157 |
$262,000.00 |
2 |
3 (2 1) |
2,246 |
 |
| Shot from Moon Bros Roof - Prices did follow....somewhat. |
| 12/17/2019 |
Unit #1802 |
195 |
$178,500.00 |
2 |
2 (2 0) |
1,079 |
| 02/15/2019 |
Unit #802 |
102 |
$160,000.00 |
2 |
2 (2 0) |
1,133 |
| 02/15/2019 |
Unit #501 |
121 |
$144,900.00 |
2 |
1 (1 0) |
1,090 |
| 02/26/2019 |
Unit #1904 |
146 |
$115,000.00 |
1 |
1 (1 0) |
803 |
| 03/11/2019 |
Unit #1805 |
12 |
$110,000.00 |
2 |
1 (1 0) |
803 |
| 11/15/2019 |
Unit #1502 |
138 |
$194,000.00 |
2 |
2 (2 0) |
1,131 |
| 04/19/2019 |
Unit #1303 |
6 |
$220,000.00 |
2 |
2 (2 0) |
1,368 |
| 09/27/2019 |
Unit #1302 |
131 |
$184,000.00 |
2 |
2 (2 0) |
1,131 |
| 03/19/2019 |
Unit #504 |
60 |
$143,000.00 |
2 |
2 (2 0) |
1,422 |
| 09/30/2019 |
Unit #604 |
79 |
$150,000.00 |
2 |
2 (2 0) |
1,422 |
| 10/11/2019 |
Unit #513 |
20 |
$115,000.00 |
2 |
1 (1 0) |
1,101 |
| 06/24/2019 |
Unit #312 |
9 |
$96,000.00 |
1 |
1 (1 0) |
1,029 |
| 12/27/2019 |
Unit #310 |
145 |
$115,750.00 |
2 |
1 (1 0) |
1,092 |
| 06/27/2019 |
Unit #309 |
173 |
$157,000.00 |
2 |
2 (2 0) |
1,604 |
| 07/09/2019 |
Unit #218 |
13 |
$120,000.00 |
2 |
2 (2 0) |
1,200 |
| 02/08/2019 |
Unit #507B |
87 |
$145,000.00 |
2 |
2 (2 0) |
1,414 |
| 09/26/2019 |
Unit #404B |
61 |
$210,000.00 |
2 |
2 (2 0) |
1,576 |
| 03/18/2019 |
Unit #206B |
196 |
$142,500.00 |
1 |
1 (1 0) |
1,148 |
| 08/16/2019 |
Unit #204B |
22 |
$211,100.00 |
2 |
2 (2 0) |
1,576 |
| 08/13/2019 |
Unit #205C |
202 |
$179,900.00 |
2 |
2 (2 0) |
1,267 |
| 10/04/2019 |
Unit #902C |
6 |
$269,900.00 |
2 |
2 (2 0) |
1,588 |
| 10/24/2019 |
Unit #503C |
25 |
$95,500.00 |
1 |
1 (1 0) |
673 |
| 12/20/2019 |
Unit #402C |
380 |
$150,000.00 |
2 |
2 (2 0) |
1,279 |
| 12/12/2019 |
Unit #203C |
2 |
$101,000.00 |
1 |
1 (1 0) |
673 |
| 11/13/2019 |
Unit #701 |
0 |
$100,000.00 |
1 |
1 (1 0) |
1,188 |
| 07/30/2019 |
Unit #503 |
16 |
$133,800.00 |
2 |
1 (1 0) |
1,216 |
| 07/08/2019 |
Unit #302 |
140 |
$131,000.00 |
2 |
1 (1 0) |
1,235 |
| 06/04/2019 |
Unit #708 |
225 |
$131,500.00 |
2 |
1 (1 0) |
1,216 |
| 05/17/2019 |
Unit #701 |
15 |
$90,000.00 |
1 |
1 (1 0) |
1,188 |
| 06/07/2019 |
Unit #608 |
42 |
$137,500.00 |
2 |
1 (1 0) |
1,216 |
| 07/01/2019 |
Unit #406 |
50 |
$138,500.00 |
2 |
2 (2 0) |
1,306 |
| 01/11/2019 |
Unit #106 |
83 |
$111,500.00 |
2 |
1 (1 0) |
1,343 |
| 04/08/2019 |
Unit #202 |
900 |
$325,000.00 |
2 |
2 (2 0) |
2,429 |
| 07/31/2019 | Unit #708 | 0 | $305,000.00 | 2 | 3 (2 1) | 1,958 |
| 12/05/2019 | Unit #702 | 250 | $242,500.00 | 2 | 3 (2 1) | 1,937 |
| 12/06/2019 | Unit #607 | 77 | $190,000.00 | 2 | 2 (2 0) | 1,558 |
| 03/05/2019 | Unit #606 | 175 | $189,900.00 | 2 | 2 (1 1) | 1,514 |
| 06/14/2019 | Unit #510 | 109 | $176,000.00 | 1 | 2 (1 1) | 1,365 |
| 05/13/2019 | Unit #408 | 71 | $140,001.00 | 1 | 1 (1 0) | 1,249 |
| 04/25/2019 | Unit #302 | 98 | $148,000.00 | 1 | 2 (2 0) | 1,496 |
| 04/26/2019 | Unit #303 | 60 | $180,000.00 | 2 | 2 (1 1) | 1,414 |
Dorsa Lofts 1015 Washington Avenue
| 10/09/2019 |
Unit #604 |
208 |
$204,900.00 |
2 |
2 (2 0) |
1,965 |
| 09/18/2019 |
Unit #407 |
6 |
$177,000.00 |
1 |
2 (1 1) |
1,547 |
| 10/31/2019 |
Unit #404 |
156 |
$205,000.00 |
2 |
2 (2 0) |
1,746 |
| 07/31/2019 |
Unit #308 |
48 |
$149,000.00 |
1 |
2 (1 1) |
1,290 |
| 09/20/2019 |
Unit #307 |
88 |
$150,000.00 |
1 |
2 (1 1) |
1,547 |
| 09/30/2019 |
Unit #205 |
146 |
$233,400.00 |
2 |
2 (2 0) |
1,981 |
| 04/30/2019 |
Unit #1120 |
232 |
$305,000.00 |
3 |
2 (2 0) |
1,964 |
None (better luck in 2020!)
| 05/20/2019 |
Unit #1610 |
290 |
$447,500.00 |
2 |
3 (2 1) |
2,792 |
| 02/13/2019 |
Unit #1213 |
66 |
$235,000.00 |
2 |
2 (2 0) |
1,473 |
| 11/08/2019 |
Unit #1013 |
151 |
$230,200.00 |
2 |
2 (2 0) |
1,473 |
| 08/07/2019 |
Unit #904 |
0 |
$246,000.00 |
2 |
2 (2 0) |
1,358 |
| 10/15/2019 |
Unit #1511 |
0 |
$251,000.00 |
2 |
2 (2 0) |
1,295 |
| 04/01/2019 |
Unit #1509 |
150 |
$288,000.00 |
2 |
2 (2 0) |
1,576 |
| 08/28/2019 |
Unit #1407 |
117 |
$253,000.00 |
2 |
2 (2 0) |
1,496 |
| 04/04/2019 |
Unit #1401 |
185 |
$315,000.00 |
2 |
2 (2 0) |
1,664 |
| 10/10/2019 |
Unit #1103 |
35 |
$288,000.00 |
2 |
2 (2 0) |
1,527 |
| 05/31/2019 |
Unit #1008 |
7 |
$254,200.00 |
2 |
2 (2 0) |
1,314 |
| 01/07/2019 |
Unit #1006 |
88 |
$170,750.00 |
1 |
1 (1 0) |
1,021 |
| 06/07/2019 |
Unit #702 |
25 |
$170,000.00 |
2 |
2 (2 0) |
1,673 |
Eden Lofts 1720 Chouteau
| 04/15/2019 |
Unit #503 |
4 |
$122,000.00 |
2 |
2 (2 0) |
1,113 |
| 03/29/2019 |
Unit #403 |
29 |
$110,000.00 |
2 |
2 (2 0) |
993 |
| 07/01/2019 |
Unit #309 |
9 |
$87,900.00 |
1 |
1 (1 0) |
796 |
| 07/10/2019 |
Unit #204 |
263 |
$119,000.00 |
2 |
2 (2 0) |
1,396 |
AVERAGES
Overall
96.47% of list price
$119.22 per square foot
99.05% of list price
175.38 per square foot
Bankers
97.16% of list price
125.83 per square foot
Ely Walker
95.33% of list price
101.11 per square foot
Packard
101.01% of list price
99.24 per square foot
