The real estate market in Ladue has seen consistent successes as buyers continue to buy and sellers continue to sell. As working climates have shifted and people have begun to spend more time at home, the desire for a functional, ideal, aesthetic home has risen. For those that have the ability, shifting locations and moving into a new property has been a no-brainer. This, paired with an unequal amount of owners looking to sell their properties, worked to create a high demand for Ladue homes for sale
High demand and low supply are the perfect formula for a seller's market, complete with elevated prices and fast-paced sales. 2022 has exemplified the city's ability to weather such market conditions, and that strength has kept Ladue real estate afloat for the year. As the year wraps up, investors, homebuyers, sellers, and their agents are beginning to look at what the upcoming year could have in store for local real estate. To get a rough idea of what 2023 may look like for Ladue real estate, in-depth insight into the specifics of the current market and the factors that influence it is pertinent.
The appeal of Ladue
Ladue is known for being an affluent location within Missouri County that allows residents to maintain a life that is luxurious, comfortable, and still conveniently located in St. Louis. When most people think of suburbs, the idea of being relatively outside of a city comes to mind. Ladue changes what it means to live in a suburb, being located in the inner ring of St. Louis instead of miles away on the outskirts. A suburban lifestyle in the center of a city is a dream for homebuyers, whether working from home or commuting locally. Desirable attributes of a suburban area, like quieter residential streets, high-quality schools, and unique community events, are all seen in Ladue.
To top it all off, properties in Ladue tend to be some of the finest the city has to offer, thanks to the affluent status of the neighborhood. These factors combined have made the area a preferable option for homebuyers looking to elevate their living experience in St. Louis, whether they are relocating to the city or have been lifetime residents.
By the middle of 2022, the statistics of home sales in Ladue were already elevated from the previous year. The one-year price change
was cited at 13.1%, equating to a growth of over $130,000. The average home value sits around one million, making Ladue the second most expensive St. Louis metropolitan city.
A correlation between average pricing and curb appeal creates an even bigger opportunity for listings to appeal to buyers, even those that may be relocating from out of state. As these trends are seen, sellers and their agents plan and price their sales accordingly. Noticing continued high demand throughout 2022, sellers did just that. Creating elevated prices in an area that is known for being affluent can be a non-factor for some buyers. This will often lead to sellers raising their home price even higher if sales do not initially slow when the price jumps occur. Navigating increased prices and a luxury market can be tricky if higher prices do not negatively sway buyers. In standard real estate markets, high prices making once-affordable properties out of budget can lead to a market freeze since it is possible for prospective buyers to shirk their decision to buy a home and continue renting or staying in their current property. When financial boundaries are less existent, demand and inflation have grounds to continue and steepen.
Seeing the way the market in Ladue responded to the real estate climate in 2022, setting expectations for what may come next year heavily relies on the continuation of affluent Ladue residents remaining unswayed by increased prices. The suburb is notably wealthy, and this has been the standard for quite some time. As external economic factors begin to come into play, the possibilities of economic events affecting the real estate market have become a common discussion. It is essentially impossible to fully predict where the real estate market and the economy are headed in the upcoming calendar year. Based on past trends and current conditions, it is possible the luxury real estate scene in Ladue will not be a victim of any mass changes in the local economy. A slowdown in demand for homes is possible but slowing momentum will not necessarily equate to a complete market crash. Should homes have consistent prices but slightly increased time on the market, that could possibly average out in a way that shows 2023 was still a successful year in real estate.
Given that the winter months are often slower for home sales due to holidays, if this occurrence were to be seen at the beginning of 2023, it would likely still exemplify favorable numbers. Overall trends in market success are often mentioned in a cumulative manner, so periods with higher highs and lower lows become nominal when averaged out.
Ready to enter the Ladue real estate market?
Analyzing housing trends in a luxury market has the added quality of being dicier than usual simply because there is no specific maximum without outliers on what a wealthy homebuyer is willing to pay for a property. The possibilities of continued real estate success in the St. Louis metropolitan area offer local buyers and sellers additional encouragement to continue with their desired purchase or sale. Should you wish to do the same, contact Maria Elias
today to create a Ladue real estate
plan for 2023.