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MARKET UPDATE
CHESTERFIELD, MO
63017
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City Overview Single Family Homes in
and the Market Action Index has been Average Age of Listing 6
trending up. These are mildly positive Percent of Properties with Price Decrease 55 %
indications for the market. Percent Relisted (reset DOM) 11 %
Percent Flip (price increased) 3%
Median House Size (sq ft) 2993
Median Lot Size 0.50 - 1.0 acre
Median Number of Bedrooms 4.0
Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM
1.0 - 2.5
Top/First $ 959,900 4507 acres 4.0 4.5 0 121 0 3 266 Most expensive 25% of properties
0.50 - 1.0
Upper/Second $ 589,900 3507 acre 4.0 3.5 6 122 10 7 156 Upper-middle 25% of properties
0.25 - 0.50
Lower/Third $ 379,900 2684 acre 4.0 3.0 0 122 8 5 124 Lower-middle 25% of properties
0.25 - 0.50
Bottom/Fourth $ 289,900 2320 acre 4.0 2.5 5 122 10 12 118 Least expensive 25% of properties
Median Price
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of
this trend.
Quartile Prices
Prices at the upper end of the market have been showing weakness. While there is enough demand in the low end (Quartiles 3
and 4) to keep prices flat, unless there is a persistent up-shift in the Market Action Index, the entire market may resume a down
trend soon.
Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized
by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s
Advantage zone (below 30) for a long period, prices are likely in for a downward correction.
The Market Action Index (MAI) illustrates a balance between supply and demand using a statistical function
of the current rate of sale versus current inventory.
Days on Market
The properties have been on the market for an average of 166 days. Half of the listings have come newly on the market in the
past 112 or so days.
and the Market Action Index has been Average Age of Listing 5
trending up. These are mildly positive Percent of Properties with Price Decrease 58 %
indications for the market. Percent Relisted (reset DOM) 10 %
Percent Flip (price increased) 4%
Median House Size (sq ft) 2609
Median Lot Size 0.25 - 0.50 acre
Median Number of Bedrooms 4.0
Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM
0.25 - 0.50
Top/First $ 670,000 3691 acre 4.0 3.5 0 63 3 4 177 Most expensive 25% of properties
0.25 - 0.50
Upper/Second $ 393,450 2650 acre 4.0 3.0 0 64 2 1 117 Upper-middle 25% of properties
0.25 - 0.50
Lower/Third $ 325,000 2580 acre 4.0 2.8 0 64 6 7 124 Lower-middle 25% of properties
0.25 - 0.50
Bottom/Fourth $ 251,250 2056 acre 4.0 2.5 5 64 6 7 108 Least expensive 25% of properties
Median Price
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index
before we see prices move from these levels.
Quartile Prices
In the quartile market segments, we see the market's price weakness almost across the board. Prices in Quartile 4 have been
mixed recently, while the rest of the market is trending downward. Look for a strong, persistent up shift in the Market Action
Index as a leading indicator of the trough in the market.
Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized
by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s
Advantage zone (below 30) for a long period, prices are likely in for a downward correction.
The Market Action Index (MAI) illustrates a balance between supply and demand using a statistical function
of the current rate of sale versus current inventory.
Days on Market
The properties have been on the market for an average of 131 days. Half of the listings have come newly on the market in the
past 91 or so days.