ST. LOUIS — For St. Louis homebuyers, the competition is hot.
Homes are selling fast and, in many cases, are receiving multiple offers due to a limited amount of properties on the market. While that dynamic has been most pronounced for starter and move-up homes, it has also extended to the luxury market.
“As time has gone on, the heat has crept up to much bigger numbers. Really, there is no limit right now, to where the heat exists on this market. Houses for a million dollars in Clayton and Ladue are selling very quickly,” said Stafford Manion, owner and president of Gladys Manion Real Estate.
Research from real estate firm Zillow says the most expensive homes in the St. Louis market are selling in 30 days, slightly ahead of last year’s pace.
Though the highest concentration of million-dollar homes is located along Interstate 64 and in municipalities such as Clayton, Chesterfield and Kirkwood, on the whole they're scattered across the region with diversity in size, style and amenities.
As the COVID-19 pandemic forced much of the population to spend more time than usual in their homes, it's also sparked increased interest from potential buyers desiring a larger footprint, Manion said.
“I think inventory in some of the upper-end homes — some of the bigger square footage homes — in Clayton and Ladue is tightening up because some people are finding value in the square footage of their homes because they have kids moving home, they have home offices now and people are spending more time in their houses," he said.
The Business Journal took a look at homes currently for sale around $1 million, generating this sample of 10 in the St. Louis region:
16648 Bartizan Dr., $995,000: This Wildwood home, with six bedrooms and seven bathrooms, spans 8,691 square feet. Built in 2001, the home sits on a three-acre lot. Downstairs, the home’s finished basement includes a bar, game room, fireplace and sauna.
4397 Westminster Place, $985,000: This Central West End home, built in 1903, includes five bedrooms and four bathrooms. The home’s kitchen, which has been remodeled, has granite countertops and stainless steel appliances. The home totals 6,010 square feet and includes a third floor.
469 N. Hanley Road, $999,000: This Clayton home has five bedrooms, two full bathrooms and one half bathroom. Built in 1904, the three-story home spans 4,392 square feet. Its kitchen has high-end appliances, custom cabinetry and granite countertops. Outside, the home has a front porch and a backyard patio.
Click here for the full list of homes.