June Market Report

Monday, July 11th, 2022

๐‰๐ฎ๐ง๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ | Year Over Year Change
Central Corridor
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Median Selling Price - $652,958 | +4.2%
Median Price per/Sqft. $252 | +6.8%
Homes Sold - 240 | -13%
Average % of List Price Paid 101.7.% | +1.7%
Median Days on Market - 6 | -25%
Months Supply - 1.7 | -19%
Active Listings 331 | -26%
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๐–๐ก๐š๐ญ ๐‡๐š๐ฉ๐ฉ๐ž๐ง๐ž๐ ๐ญ๐จ ๐Œ๐จ๐ซ๐ญ๐ ๐š๐ ๐ž ๐‘๐š๐ญ๐ž๐ฌ ๐‹๐š๐ฌ๐ญ ๐–๐ž๐ž๐ค:
โ€œThe Freddie Mac fixed rate for a 30-year loan took a sharp drop last week, falling to 5.30% and offsetting some of the significant rate increases of May and June amid rising recession concerns. The 40 basis point fall from last week comes on the heels of the recent volatility in the 10-year Treasury yield, which dropped below 2.8% in the first week of July and rebounded to 2.9% after spending most of June above 3%. Continued fears of a bear market have driven investors into safer, longer-term bonds, driving up the price of the 10-year note and pushing its yield below that of the 2-year Treasury. Economists and policy makers will watch closely to see whether these market conditions will lead to increases in the unemployment rate or decreases in production that characterize a recession. โ€œ
-Joel Berner/Senior Economist NAR
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๐–๐ก๐š๐ญ ๐ข๐ญ ๐Œ๐ž๐š๐ง๐ฌ: Prospective homebuyers who have been waiting through 24 consecutive months of year-over-year listing price growth of more than 8.5% may be well-positioned to make a purchase soon if current trends continue.

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Gladys Manion Welcomes New Interns!

Thursday, June 23rd, 2022

Gladys Manion Welcomes New Interns!

An internship at Gladys Manion Real Estate allows students to uncover their passions in real estate, marketing, and building productive relationships. For the past 20 years, Gladys Manion has offered internships to students in the St. Louis area. This year, three interns have joined: Massimo Seifarth, Eliana Brook, and Adam Sutter. Each of them hopes to gain new experiences in a professional real estate environment.

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May Market Report

Tuesday, June 7th, 2022

๐Œ๐š๐ฒ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ | Year over Year Change
Central Corridor
Median Sale Price $437,500 | +2.8%
Median Price per/Sqft. $243 | +13.6%
Homes Sold 198 | -1.5%
Average % of List Price Paid 102.% | +1.6%
Median Days on Market 8 | -38.5%
Months Supply of Inventory 1.6 | -23.8%
๐–๐ข๐ฅ๐ฅ ๐ซ๐š๐ญ๐ž๐ฌ ๐Ÿ๐š๐ฅ๐ฅ ๐ข๐ง ๐‰๐ฎ๐ง๐ž?
The first quarter of 2022 saw a spike in mortgage rates. The 156 basis point (1.56 percent) increase was the fastest three-month increase since May 1994, according to Freddie Mac.
Interest rates may continue to rise as the pandemic's economic impact fades, inflation rises to 40-year highs, and the Federal Reserve announces an aggressive policy strategy.
With the Fed announcing future rate hikes, mortgage markets have likely already factored in a significant portion of the impact. If the economy encounters headwinds, a surge in positive Covid instances could result in some weekly drops.
Experts from the Mortgage Bankers Association, the National Association of Realtors, and other industry experts disagree on whether 30-year mortgage rates will rise or remain flat in June.

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Gladys Manion, Inc. is pleased to welcome a new agent to its real estate team: Richard Hart

Wednesday, December 15th, 2021

Richard Hart joined Gladys Manion Real Estate as a Residential Real Estate Specialist in November 2021. Richard

Hart began his real estate career in 2004 and operated exclusively in the central corridor of St Louis. A west end

native that knows all the streets, alleys and who is never lost in Forest Park.

Rich Hartโ€™s enthusiasm for his hometown is contagiousโ€”a repeat client became an agent at the office where Rich

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Real Estate Market Re-cap

Tuesday, December 7th, 2021

Will Housing Market Crash in 2022?
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The home price growth in the United States will โ€œmoderateโ€ or slow down in 2022, but shows no signs of a crash. The housing market has been along for much of the ride and continues to benefit greatly from the overall health of the economy. However, hot economies eventually cool and with that, hot housing markets are expected to move more towards balance.
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The latest housing market trends show that prices are rising in most parts of the country and most price segments because of the lack of supply, St. Louis has seen a considerable decline in supply since 2012. Economic activities are ramping up in all the sectors, mortgage rates are rising, and jobs are also recovering. As of now, low mortgage rates are providing opportunities for buyers to lock in low monthly mortgage payments for future years.
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The graphs show the data trends in the St. Louis County market from January 2011 to December 2021 for;
  • Average Sales Price,
  • Average % of List Price Paid
  • Median Price Per Sqft
  • Months Supply of Housing Inventory
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Each data point is 12 months of activity. Data is from December 7, 2021. All data from MARIS.
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Gladys Manion Real Estate

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The Foundation for Barnes-Jewish Hospital's Giving Magazine 2021

Thursday, October 21st, 2021

We are happy to share this article by Gail Appleson in the latest issue of Giving Magazine.

Read the full article here......

A lasting way to support exceptional health care in our community is by making a gift through an estate plan that allows donors to contribute beyond their lifetime.

Written by Gail Appleson

Photo courtesy of Randall Kahn

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Gladys Manion, Inc. is pleased to welcome a new agent to itโ€™s real estate team: Caroline Ragsdale

Tuesday, July 13th, 2021

Caroline Ragsdaleย is a native St. Louisan and a graduate of the University of Missouri-Columbia. She has a deep love and understanding of St. Louis and all the nuances of this city and the communities within. She brings over 15 years of sales, marketing and digital media having worked at top firms in both New York City to Chicago.ย 

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