Cities like St. Peters, St. Charles and OFallon have seen growth of 120% in the last ten years. The prices have continued to rise and the new construction is beginning to taper off as the suburban sprawl slows. In St. Peters, there are an equal number of buyers and sellers, and houses are only on the market 10-30 days. The average sale price is $168K, which is up 5% from July of 2005. The majority of activity is from first time buyers as jobs continue to grow in the area.
Branson, which has been booming for four years due to the growth of the tourist attractions, is starting to equal out. There are still more buyers than sellers, but houses are staying on the market for 60-90 days. The average sale price is $140K, which is a 15%-20 increase of only a year ago. The largest market activity is with move up buyers who are taking advantage of low interest rates.