Prudential Alliance, REALTORS® reports that a unique combination of local real estate market conditions and top-flight school districts in St. Louis communities Ballwin and Chesterfield make the area ideal for first-time home buyers and their families.
For many home buyers, finding a home in a region that is family-friendly while still providing easy accessibility to a bustling urban area is essential. Chesterfield and Ballwin are two communities in the greater St. Louis area that fit the criteria and then some. Award-winning school districts, top-rated hospitals and continuous commercial development make both of these St. Louis suburbs stand out from the rest.
After analyzing data from Altos Research, a California-based analytics company, Prudential Alliance, REALTORS® found that inventory in Ballwin last year began to slip mid-summer, which simultaneously shifted the market further into the hands of sellers. Since then, conditions have leveled off and the median single-family home price subsided. As of January 31, Altos listed it at $232,442, but as the market heats up in the spring, this price is likely to rise even higher.
Ballwin, named one of America’s Best Places to Live by Money Magazine, is 40 minutes away from the core of St. Louis, making it a great destination for commuters. It is served by AAA rated school districts and is just minutes away from five major universities and colleges.
“First-time home buyers will love the community spirit, low housing costs and high quality of life in Ballwin,” stated Colleen McCabe of Prudential Alliance, REALTORS®. “It’s difficult to argue with statistics, and the fact that the local school districts and community amenities have received various accolades may be enough to seal the deal.”
Chesterfield, a bustling community just north of Ballwin and bordered by the Missouri River to the west, is served by Interstate 64, which feeds directly into downtown St. Louis. The median single-family home price in Chesterfield, according to Altos Research, was $534,922 as of January 31, and while the community saw a slight dip during late spring and early fall, it has since regained traction. Statistics from last spring note a decline in inventory around June, which is around the same time the Market Action Index shifted dramatically into the hands of sellers. The Market Action Index, or MAI, measures conditions to determine whether the market favors buyers or sellers on a scale where 30 is neutral. It currently sits at 32.9, only slightly in favor of sellers, which is likely due to the low inventory.
“While we’ve all heard that home inventory levels are low while demand is high, that doesn’t mean interested buyers can’t find the home of their dreams at an attainable price in this market,” added Roe McCabe of Prudential Alliance, REALTORS®.
The appeal that any community has can be directly related to the quality of its school districts. The Parkway and Rockwood school districts feed from both Ballwin and Chesterfield and have both received numerous recognitions, awards and accolades. Parkway schools, such as Parkway West and Central high schools, have both been named in Newsweek Magazine’s rankings of America’s Best High Schools, and were also awarded with silver medals in the U.S. News & World Report America’s Best High Schools ranking. Both institutions exceed U.S. News’ college readiness index scores, as well.
Lafayette and Marquette high schools in the Rockwood School District have received similarly high praise. Lafayette High School has been awarded with two gold stars and one blue ribbon by the U.S. Department of Education. Marquette teachers have been the recipients of the ROSE award, which acknowledges individuals within the Rockwood district who have been outstanding contributors on multiple occasions.
For more information, visit http://www.prudentialalliance.com.