Saint Louis Real Estate Market: A Closer Look
By: Tommy Unger, Data Analyst | April 3, 2007
Media attention and conversations on the national housing market often focus on the coasts. Fortunately here at Zillow our data also covers the areas in between the East and the West. A couple months ago in our Quarterly Home Value Reports, we took a look at 75 metro areas throughout the nation to help everyone get a deeper look at what is happening in some of the larger local markets.
Moving towards the middle of the US and the gateway to the west, let’s take a more in-depth look at St. Louis. St. Louis has seen a steady rise in home values since 2000. The Zindex has risen from about $94,000 to just under $150,000 over the past 7 years. That’s a healthy 7% annualized appreciation. As a whole, the St. Louis area still falls below the national Zindex of $256,000.
However, there are some more exceptional neighborhoods in and around Saint Louis which are well above the national Zindex. Huntleigh has appreciated over 9% annually and currently has a Zindex just over $1 million. Ladue has appreciated nearly 8% annually and is currently one of the most expensive neighborhoods in the United States with a Zindex of $1.36 million. The community is the home of William Bush, brother of former president George H. W. Bush, as well as John F. McDonnell the former Chairman of McDonnell-Douglas.
Take a look at the chart below to see the performance of some select neighborhoods in St. Louis.
It’s also no surprise that these communities also rank high on the Zillow Interest Index (the most frequently-viewed homes on Zillow.com). Buyers and sellers and other Zillow visitors are interested in these communities and their clicks do the talking. If you are interested in finding more details about your area, check out all of our reports. And stay tuned for our findings for Q1 of 2007.
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- Categories: Real Estate, Real Estate Analytics, Zestimate, Zillow
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ca dave on April 3, 2007 5:25 pm
I’m looking at some of the detail data and some things don’t quite make sense to me. For example, in Palo Alto, the Zindex jumps (between 2004-Q4 and 2005-Q1) from $532,290 to $949,689. Similar pattern for much of Silicon Valley. In three months, the number practically doubles? How can this be?
David G from Zillow.com on April 5, 2007 4:19 pm
CA DAVE -
Thanks for the feedback — there is something wrong there. We’re looking into a fix. I will stop by with another update when we have one.
Mike on April 11, 2007 1:30 pm
Actually, aren’t these all St. Louis county? Too bad you didn’t take a look at the various St. Louis city neighborhoods.
ca dave on April 20, 2007 2:42 pm
Any word on the data in northern California?
David G from Zillow.com on May 7, 2007 6:08 pm
CA DAVE -
Sorry it took me so long to get back to you. Yes, the N CA data published in this last report was flawed in its historical value estimates. The recent (2006) YoY appreciation data is correct but we went back and looked at the 2004 data and found that to be incorrect. We have removed the faulty records from the original report and have also excluded those periods from the Q1 2007 data. Thank you again for your valuable feedback. Our analysts have also added safeguards to ensure that quarterly report data is properly checked before it’s published.