Realtor.com released its list for the hottest housing markets in 2016 last week, placing St. Louis at #2. They based this data on home sales, sale turnover rates and online home views.
We know that for many, buying houses is more than a data-driven decision. It?s important to remember the highly personal nature of choosing a home. Some factors for buying houses in St. Louis are based on lifestyle choices like proximity to nightlife, commute time, and school districts.
Who are Buying Houses in St. Louis in 2016
The majority of homebuyers in St. Louis are young Gen X-ers, aged 35 to 45, and older Millennials, aged 25-34, according to Realtormag.com.
People within these ages are typically at the point in their life when they are ready to start buying houses, and settle into their careers and family life. It is predicted that younger Gen-Xers are just now recovering from the housing market crash of 2009 and are ready to once again start making real estate investments.
Why STL is Top Ranking for Buying Houses
1. Unique Architecture in Older Homes
St. Louis is ripe with homes high in character and architectural design. These generations are looking to get away from the cookie-cutter designs of new suburbia and are more interested in buying houses with more unique, vintage home styles. “Commute time and preference for older homes have these buyers looking in city centers and closer-in suburbs,” says Realtor.com.
Areas like Soulard, Lafayette Square and Benton Park represent the tasteful architecture of a city almost entirely built out of brick. Where as, the cities of Kirkwood and Richmond Heights known for their bungalow, cottage and countryside styles, represent the variety of options for those buying houses in St. Louis.
2. Commute Time
Drawn to city life and closer-in suburban sprawl, these generations are looking to be within proximity to major recreational hubs and have quick access to downtown. Areas like the cities of Afton, Kirkwood, Webster Groves, Crestwood, Richmond Heights, Clayton, and University City fit these qualifications.
3. Economic Growth in the Area
More and more tech companies are making their homes in St. Louis, including big moguls like Square. St. Louis has also made a name for itself with start-up companies. Low overhead and cost of living, along with high potential and opportunity, make St. Louis affordable for those getting a start in their careers or families.
4. Family
St. Louis is repeatedly known for its variety of family-friendly activities, many of which are free. Anything from the St. Louis Art and History Museums, the Zoo, Botanical Gardens, City Museum, the Butterfly House, Busch Wildlife Center, Grant’s Farm and more, draws in those looking into buying houses in St. Louis.