REID REPORT: 2014 Clayton Condo Outlook

Where is the Clayton condo market heading? 

This year sellers are looking to take advantage of low inventory and higher prices. We’ll see a small influx of inventory from the condo owners who chose to rent their units during the down-turn. For many buyers it’s more affordable to buy vs. rent, particularly with such favorable interest rates on jumbo loans and rising rental rates, but

the lack of inventory poses the problem of finding the right fit. Overall inventory levels are extremely low and there is a complete void in the market for new construction condos. Developer product has been sold out since 2012 and the market consists entirely of resales. Currently there are only 10 units on the market in Clayton from $500k+ and demand has been steadily increasing. Since 2010, condo demand across all price points in Clayton is up 54% (99 condos sold in 2010 vs. 152 in 2013). As demand continues to increase we anticipate higher prices and less and less inventory.

Clayton Condo Demand Steadily Rising 

Chart 2- St Louis Magazine

What services do you provide?

Given the complexities of today’s real estate markets, sellers and buyers are looking for strategic advice. Therefore, we craft a strategy specifically designed for the individual needs of our clients. This starts with understanding their needs and goals and then analyzing the data to establish a strategy to help them maximize results. For example, after analyzing the data last year for one of our condo sellers, we suggested that they wait one more year to sell.

Who are your ideal clients?

We work with individual buyers and sellers, investors, and developers. We have extensive experience in all three areas and each assignment poses a unique challenge. Our success has been due in large part to this recognition and our ability to craft a sales program specifically designed to meet the individual needs of our clients. For example, relocation clients might need a temporary place while searching for the perfect home, while investor clients need to understand possible returns and operating expenses.

We are capable of successfully executing on many levels. In 2010 we sold out Demun Pointe in Clayton. In 2011 we sold out Alamo Condominiums in Clayton. In 2012 we were part of the acquisition team for the $34M sale of Clayton on the Park. In 2013, with a focus on helping individual buyers and sellers of homes and condos, we doubled our residental brokerage revenue. Buyers and sellers are looking for the sophisticated level of strategy and service the company is known for. Our ability to provide advisory services, support and successful execution sets us apart from the rest.

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