Eureka, Wildwood Rank In House Affordability

One trend and one announcement in the real estate industry signal changes.

While the number of units sold in the Wildwood-Eureka area compared to this same time last year were down, activity has increased by 68 percent in the past six weeks, said Shirley Denningmann, vice president and officer manager for Coldwell Banker-Gundaker for West St. Louis County.

"There's an abundance of inventory, as well as willing buyers and sellers coming to agreements," said Denningmann.

She said present average list prices of residences are not that much different than last year's prices, however there's been a good spurt that included a late spring market.

Today, Coldwell Banker Real Estate announced its 2011 Home Listing Report (HLR), which compares the average home listing price of four-bedroom, two-bathroom properties listed on coldwellbanker.com between September 2010 and March 2011.

Within the 37 real estate markets covered in Missouri by this report, Eureka ranked as the 27th most affordable market in the state. Additionally, Eureka ranked No. 1,323 on a national basis for affordability at an average price for this type of house being $258,952.

Wildwood ranked as the 33rd most affordable market in Missouri and No. 1,686 nationally, with an average price of $338,774 for this criteria of house.

Kirksville, MO, led the list of most affordable markets in the state, with an average home listing price of approximately $125,010 for property listings that met the subject home criteria, according to the report. It identified University City, MO, as the state’s most expensive market, where the average four-bedroom, two-bathroom home has a listing price of $417,725.

Compared to the national average of $293,251, the average four-bedroom, two-bathroom home in Missouri overall was $225,847, the report indicated.

To see findings from the national report, click here.