Kelsey Cottrell Realty's MARKET UPDATE

DES PERES, MO

SAMPLE REPORT: For current report visit www.stlouisrealestatetoday.com

· Current Real Estate Market Conditions for Single Family Homes · Trends in Pricing · Current Levels of Supply and Demand · Value Metrics

· Report for the week of
February 15, 2010

· Presented by Kevin Cottrell - Office of Chief Economist Kelsey Cottrell Realty Group www.kelseycottrell.com - info@kelseycottrell.com 314-779-3690

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City Overview
Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690

Single Family Homes in

DES PERES, MO

This Week
The median list price in DES PERES, MO this week is $407,500. The 76 properties have been on the market for an average of 272 days.
Median List Price Average List Price

Real-Time Market Profile
$ 407,500 $ 692,044 $ 162 272 76 $ 3,975,000 $ 129,900 49 41 % 22 % 7% 2426 0.25 - 0.50 acre 4.0 2.5

Trend
±+ == == ==

Asking Price Per Square Foot Average Days on Market (DoM) Inventory of Properties Listed Most Expensive Listing

Inventory and days-on-market are both trending higher recently. However, the improving Market Action Index implies some increased demand will temper the negative trends.

Least Expensive Listing Average Age of Listing Percent of Properties with Price Decrease Percent Relisted (reset DOM) Percent Flip (price increased) Median House Size (sq ft) Median Lot Size Median Number of Bedrooms

Supply and Demand
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.

Median Number of Bathrooms

Altos Research Value Statistics
Market Action Index Strong Buyer's 11.9 == The Market Action Index answers the question "How's the Market?" By measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.

Trend Key:

±+

No change

== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend

Characteristics per Quartile
Quartile
Top/First Upper/Second Lower/Third Bottom/Fourth
Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

$ 1,000,000 $ 599,000 $ 339,000 $ 209,000

6400 2881 2087 1448

0.50 - 1.0 acre 0.25 - 0.50 acre 0.25 - 0.50 acre 0.25 - 0.50 acre

4.0 4.0 4.0 3.0

4.5 3.0 2.5 2.0 49

19 19 19 19

0 2 3 2

4 2 2 4

383 336 171 196

Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties

Page 2 of 16

Monday February 15, 2010

City Overview

Single Family Homes in

Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690

DES PERES, MO

Median Price
Despite this week's down tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.

7-day Average

90-day Average

Quartile Prices
Pricing in the upper-half of the market (Quartiles 1 and 2) has been relatively flat recently while the lower-half prices have remained strong. Quartiles 3 and 4 have been increasing in the last few weeks. Look to the Market Action Index Quartile breakdown for a leading indicator on which group will lead the market in the near future.

First/Top

Second/Upper

Third/Lower

Fourth/Bottom

Page 3 of 16

Monday February 15, 2010

City Overview

Single Family Homes in

Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690

DES PERES, MO

Price per Square Foot
The value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently. These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.

7-day Average

90-day Average

Inventory of Properties Listed for Sale
Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

7-day Average

90-day Average

Page 4 of 16

Monday February 15, 2010

City Overview

Single Family Homes in

Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690

DES PERES, MO

Market Action Index
The DES PERES market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 11.91. With several months of inventory available at the current sales rate, buyers should find ample choice.

90-day Average

Buyers/Sellers Cutoff

Market Action Index per Quartile
Not surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months of inventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall market shifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole group

First/Top

Second/Upper

Third/Lower

Fourth/Bottom

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 blance between supply and demand using a statistical function of the current rate of sale versus current inventory. Page 5 of 16 Monday February 15, 2010

City Overview

Single Family Homes in

Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690

DES PERES, MO

Days on Market
The properties have been on the market for an average of 272 days. Half of the listings have come newly on the market in the past 164 or so days.

7-day Average

90-day Average

Days on Market per Quartile
It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

First/Top

Second/Upper

Third/Lower

Fourth/Bottom

Page 6 of 16

Monday February 15, 2010

Neighborhood Detail
Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690

Single Family Homes in

DES PERES, MO 63131
Trend
$ 435,450 $ 739,177 $ 160 301 62 $ 3,975,000 $ 129,900 49 40 % 26 % 8% 2448 0.25 - 0.50 acre 4.0 2.5 == == == ≠≠

This Week
The median list price in DES PERES, MO 63131 this week is $435,450. The 62 properties have been on the market for an average of 301 days.
Median List Price Average List Price

Real-Time Market Profile

Asking Price Per Square Foot Average Days on Market (DoM) Inventory of Properties Listed Most Expensive Listing

Inventory and days-on-market are both trending higher recently. However, the improving Market Action Index implies some increased demand will temper the negative trends.

Least Expensive Listing Average Age of Listing Percent of Properties with Price Decrease Percent Relisted (reset DOM) Percent Flip (price increased) Median House Size (sq ft) Median Lot Size Median Number of Bedrooms

Supply and Demand
The market has been consistently cool for several weeks. Demand level are low relative to the available inventory. It's a Buyer's market and prices continue to fall. Look for a persistent shift in Market Action before prices plateau or begin to rise again.

Median Number of Bathrooms

Altos Research Value Statistics
Market Action Index Strong Buyer's 12.1 == The Market Action Index answers the question "How's the Market?" By measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.

Trend Key:

±+

No change

== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend

Characteristics per Quartile
Quartile
Top/First Upper/Second Lower/Third Bottom/Fourth
Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

$ 1,000,000 $ 749,000 $ 364,950 $ 212,000

5819 3321 2226 1474

1.0 - 2.5 acres 0.25 - 0.50 acre 0.25 - 0.50 acre 0.25 - 0.50 acre

4.0 4.0 4.0 3.0

4.5 3.5 2.5 2.0 49

15 15 16 16

0 1 2 2

4 1 1 1

338 440 192 246

Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties

Page 7 of 16

Monday February 15, 2010

Neighborhood Detail

Single Family Homes in

Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690

DES PERES, MO 63131

Median Price
Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

7-day Average

90-day Average

Quartile Prices
In the quartile market segments, we see prices in most of this zip code trending higher in recent weeks. However the uppermiddle section of the market (Quartile 2) is showing some weakness lately. Major trend changes typically start from the top or the bottom of the market, so it is difficult to identify this as a significant indicator. Watch the Market Action Index Quartile breakdown for Quartiles 1 and 2 for persistent weakness before projecting this narrow downtrend onto the market as a whole.

First/Top

Second/Upper

Third/Lower

Fourth/Bottom

Page 8 of 16

Monday February 15, 2010

Neighborhood Detail

Single Family Homes in

Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690

DES PERES, MO 63131

Price per Square Foot
We're seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actually increasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to microlocation variables.

7-day Average

90-day Average

Inventory of Properties Listed for Sale
Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

7-day Average

90-day Average

Page 9 of 16

Monday February 15, 2010

Neighborhood Detail

Single Family Homes in

Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690

DES PERES, MO 63131

Market Action Index
The DES PERES, 63131 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 12.08. With several months of inventory available at the current sales rate, buyers should find ample choice.

90-day Average

Buyers/Sellers Cutoff

Market Action Index per Quartile
Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts.

First/Top

Second/Upper

Third/Lower

Fourth/Bottom

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 blance between supply and demand using a statistical function of the current rate of sale versus current inventory. Page 10 of 16 Monday February 15, 2010

Neighborhood Detail

Single Family Homes in

Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690

DES PERES, MO 63131

Days on Market
The properties have been on the market for an average of 301 days. Half of the listings have come newly on the market in the past 252 or so days.

7-day Average

90-day Average

Days on Market per Quartile
It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

First/Top

Second/Upper

Third/Lower

Fourth/Bottom

Page 11 of 16

Monday February 15, 2010

Neighborhood Detail
Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690

Single Family Homes in

DES PERES, MO 63122
Trend
$ 319,450 $ 483,314 $ 168 142 14 $ 1,780,000 $ 195,000 == == == ±+

This Week
The median list price in DES PERES, MO 63122 this week is $319,450. The 14 properties have been on the market for an average of 142 days.
Median List Price Average List Price

Real-Time Market Profile

Asking Price Per Square Foot Average Days on Market (DoM) Inventory of Properties Listed Most Expensive Listing

Inventory and days-on-market are both trending higher recently. However, the improving Market Action Index implies some increased demand will temper the negative trends.

Least Expensive Listing Average Age of Listing Percent of Properties with Price Decrease Percent Relisted (reset DOM) Percent Flip (price increased) Median House Size (sq ft) Median Lot Size Median Number of Bedrooms

43 % 7% 0% 2068 0.50 - 1.0 acre 3.0 2.5

Supply and Demand
Home sales have been exceeding new inventory for several weeks. Since this is a Buyer's market prices are not yet moving higher as excess inventory is consumed. However, the as supply and demand trends continue, the market moves into the Seller's zone, and we are likely to see upward pressure on pricing.

Median Number of Bathrooms

Altos Research Value Statistics
Market Action Index Strong Buyer's 10.7 == The Market Action Index answers the question "How's the Market?" By measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.

Trend Key:

±+

No change

== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend

Characteristics per Quartile
Quartile
Top/First Upper/Second Lower/Third Bottom/Fourth
Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

$ 799,900 $ 499,900 $ 289,900 $ 209,000

3325 2517 2002 1382

1.0 - 2.5 acres 1.0 - 2.5 acres 0.25 - 0.50 acre 8,001 10,000 sqft

4.0 4.0 3.5 3.0

3.0 3.0 2.2 2.0

3 3 4 4

1 0 1 0

0 2 0 3

199 147 110 128

Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties

Page 12 of 16

Monday February 15, 2010

Neighborhood Detail

Single Family Homes in

Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690

DES PERES, MO 63122

Median Price
We continue to see prices in this zip code hovering around these current levels, even though they bumped up a bit this week. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.

7-day Average

90-day Average

Quartile Prices
In most of the quartile market segments, we see prices in this zip code have stabilized recently. Only Quartile 4 shows any price increases in the last few weeks. Often this condition happens in markets where demand has fallen (for example, due to microlocation variables) but supply is still relatively short. Buyers are focusing on the lowest price homes in the area.

First/Top

Second/Upper

Third/Lower

Fourth/Bottom

Page 13 of 16

Monday February 15, 2010

Neighborhood Detail

Single Family Homes in

Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690

DES PERES, MO 63122

Price per Square Foot
The value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently. These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.

7-day Average

90-day Average

Inventory of Properties Listed for Sale
Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

7-day Average

90-day Average

Page 14 of 16

Monday February 15, 2010

Neighborhood Detail

Single Family Homes in

Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690

DES PERES, MO 63122

Market Action Index
The DES PERES, 63122 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 10.70. With several months of inventory available at the current sales rate, buyers should find ample choice.

90-day Average

Buyers/Sellers Cutoff

Market Action Index per Quartile
Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts.

First/Top

Second/Upper

Third/Lower

Fourth/Bottom

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 blance between supply and demand using a statistical function of the current rate of sale versus current inventory. Page 15 of 16 Monday February 15, 2010

Neighborhood Detail

Single Family Homes in

Kelsey Cottrell Realty | www.kelseycottrell.com | 314-779-3690

DES PERES, MO 63122

Days on Market
The properties have been on the market for an average of 142 days. Half of the listings have come newly on the market in the past 147 or so days.

7-day Average

90-day Average

Days on Market per Quartile
It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

First/Top

Second/Upper

Third/Lower

Fourth/Bottom

Page 16 of 16

Monday February 15, 2010