Aug 14, 2017
Area tax assessments are painting a remarkably bright picture of the St. Louis real estate market.
According to an article on St. Louis Public Radio’s website, home values have rocketed up 12 percent in the city and seven percent in the county since 2015. These changes represent the most dramatic movements in home values since the slow recovery from the Great Recession began around 2011.
“That’s not just true in Clayton and Ladue and Chesterfield,” county auditor Jake Zimmerman told NPR. “It’s also true in north and south county and everywhere in-between.”
Still, there were regional variations among school districts. Some were recovering from losses like South County’s Hancock Place School District which saw the biggest boost this cycle with values rising by more than 16 percent over the past two years. By contrast, the district, which covers the Lemay area, had actually lost more than five percent of its value between 2013 and 2015.
But others were celebrating a continuing hot streak. The second biggest winner was Meramec Valley along St. Louis County’s western border. Values rose more than 15 percent which was added on top of a similar increase in the preceding two-year cycle.
South County’s Lindbergh District had the third-largest boost with values rising by more than a tenth. The district was coming off modest gains in the previous cycle.
Almost all areas of the county showed an increase but North County’s numbers were the lowest. The Hazelwood District moved up by less than four percent while Riverview edged up by half a point. The only district to see a loss was Jennings which fell by more than four percent.
Mark Stallman of the St. Charles County Association of Realtors said home prices in his county have jumped eight percent in the last year alone with the average home being sold in just 10 days.