What is My O'Fallon / Dardenne Prairie Home Worth? ~ Home Sales in 63368

 

August 2022 Update  (Year-to-Date)

This report is for single family homes ONLY and NOT condos or new construction.  It’s covering O’Fallon/Dardenne Prairie only.  This report is informational and for the best advice for you as an area home buyer or seller, please contact me for a specific review of your needs.

All data is derived from the St. Louis Multiple Listing System (MLS) as of August 15, 2022.  If any property traded hands without a Realtor® involved, it won’t be reflected in this report.  All data is for the 63368 zip code only.  Percentages reflect increases or decreases from the same period of 2021.

O’Fallon/Dardenne Prairie offers a diversity of living choices, with a focus on affordable, executive-style housing.  Much of the zip code area is easily reached by I-364, I-64/Hwy 40, and Hwy K.

63368 Single Family Home Category Data Summary

Homes Sold:                   274  (2 Bank/Govt. Forecl.)   DOWN:     30.9%

Average Price:                 $396,564                       UP:            15.4%

Days on Mkt. Avg:           11                                  DOWN:     21.4%

Avg. Price Per SqFt:         $198.99                         UP:             19.4%

Avg. Sales/List %:            105.37%                       UP:               1.4%

Most Expensive Home Sold:                  $ 1,105,000

Least Expensive Home Sold:                  $      155,500

Number of Homes Currently For Sale:             33

                

What can we determine from the latest statistics?

While sales volume may have dropped from the previous year; that is due solely to the lack of inventory of homes available for sale.

-          Days on Market is very doable.

-          Distressed properties (foreclosures) have minimal impact at this point.  Less impact means better pricing for the rest of the market.

-         Sales prices increased along with the average price per square foot.  

-       There is an extreme shortage of homes currently for sale in the O’Fallon/Dardenne Prairie 63368 zip code area.  Our company has a massive list of buyers just waiting to make offers on homes in 63368.

What does this mean to you as a current 63368 single family home owner?

Home sale prices are rising and homes are selling quickly.  The equity in your home is also rising.  It’s still crucial to price right and prep your home, if you’re considering making a move.  (Don’t forget…there is a lot of new construction competition.)

For an evaluation of your specific home’s marketability, please contact us.

What does this mean to you as a potential 63368 home buyer?

If you find a home that suits you, you cannot delay acting in putting in an offer to buy the property or you may miss out on your opportunity.  That’s why it is beneficial for you to work with us to not only assist in finding available properties, but to provide every advantage to help your offer get accepted.

St. Charles County still continues to be a VERY affordable place to buy a home.  There is some new construction available and we can help you get the best deal.  The builder will NOT cut you a price break for showing up unrepresented and using our services will NOT cost you a thing!

Contact us with any of your real estate questions, including what your home’s value is in today’s real estates, what it could sell for, and how quickly it could sell.

JUDY WROZIER

Realtor® - ABR®, SFR®

 (314) 348-4033

CLICK HERE to search Homes For Sale 

How To Buy A Luxury Home

     When it comes to buying a luxury home, there's more than just a high price and somewhat unique architecture.  Purchasing a high-end property is a completely different process than buying a middle-priced home.

     Here are a few tips if you are thinking of buying a luxury home.

Learn Where To Search

     Unlike homes in lower price ranges, luxury properties often go unlisted to protect the seller's privacy.  That's why it is important to use your Realtor's personal connections, as she or her office mates, may have off-market luxury listings.  You won't find these listings in the Internet.  Check with us to find out inside information about higher-end properties before they hit the market.

Proper Expertise

     As a real estate agent, I will not only find the property, but, as an expert, will be able to determine the market value of the high-end property.  Typically, the price of a home is relatively easy to evaluate by comparing it to similar properties in the area.  However, many times there will be no similar properties in the area.  Moreover, since luxury homes are more or less unique, they can't be compared to anything at all.  That's why you need an expert to carefully inspect the property, as it will have special amenities such as a pool, ponds, fountains, outdoor fireplaces, landscape lighting, professional surveillance and security systems, and so much more.

Financing

     According to a Coldwell Banker study 10 years ago, only 31% of luxury home buyers paid cash for their high-end property.  It's normal to use a loan for the purchase, but there are a few things you should know.  The loan approval process will take longer...45-60 days to secure...and you will be required to provide a lot of detailed documentation.

Understanding the Market

    There will always be a market for luxury property and some local areas are experiencing significant growth.  Considering the fact we are still experiencing the financial whirlwind going on due to the pandemic, luxury markets have heated up.  One reason for this, of course, is the rule of supply and demand and, in general, the supply of higher priced homes is limited.

     If a luxury home is in your future, you may want to start planning now.  To search for luxury homes for sale at your leisure, just go to:  PoshSTLHomes.com 

     If you would be interested in knowing of any off-market luxury homes, just contact me.