Due to a very steep 35% decline in the number of homes for sale, St Ann, MO looks to have found a temporary pricing bottom. The city went from a high of over 100 homes actively for sale in July 2009 to just 72 at the time of this article’s publishing.  After reviewing data it appears as if the liquidation of a large list of foreclosures, which generally bring prices down in an area, is coming to an end.  The median price for the city was around $105,000 in July, 2008 and at it’s bottom in April, 2009 came in at just $95,000.  As of May 18, 2009 that figure had jumped to almost $99,000, a fast 4% increase.

However, we do not expect this to continue.  Due to the large nationwide lenders holding a 3 month foreclosure moratorium that should end in the next 4 weeks, St Ann might be susceptible to additional price declines.