Karleen O. Hoerr has been matching clients and their real estate needs for almost 50 years. She began selling homes in the Skinker-DeBaliviere neighborhood (where she still lives) and has expanded her scope to the central corridor of St. Louis. Karleen served as chair of the Skinker-DeBaliviere Community Council and was the president of the Skinker-DeBaliviere Housing Corporation โ€“ she still sits on their Residential Housing and Zoning Committee โ€“ and was on the founding board of Forest Park Forever and on the board of the Central West End Association. She currently supports the Girl Scouts, New City School, and UMSL.

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October Market Update

Monday, November 7th, 2022

๐Ž๐œ๐ญ๐จ๐›๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ |Year over Year Change
Central Corridor
๐€๐ฏ๐ž๐ซ๐š๐ ๐ž ๐’๐š๐ฅ๐ž ๐๐ซ๐ข๐œ๐ž $608,269 |+5.3%
๐€๐ฏ๐ž๐ซ๐š๐ ๐ž ๐๐ซ๐ข๐œ๐ž ๐ฉ๐ž๐ซ/๐’๐ช๐Ÿ๐ญ. $252 | +4.1%
๐‡๐จ๐ฆ๐ž๐ฌ ๐’๐จ๐ฅ๐ 157 | -14.2%
๐€๐ฏ๐ž๐ซ๐š๐ ๐ž % ๐จ๐Ÿ ๐‹๐ข๐ฌ๐ญ ๐๐ซ๐ข๐œ๐ž ๐๐š๐ข๐ 99.5% | +0.2%
๐€๐ฏ๐ž๐ซ๐š๐ ๐ž ๐ƒ๐š๐ฒ๐ฌ ๐จ๐ง ๐Œ๐š๐ซ๐ค๐ž๐ญ 31 | -20.5%
๐Œ๐จ๐ง๐ญ๐ก๐ฌ ๐’๐ฎ๐ฉ๐ฉ๐ฅ๐ฒ ๐จ๐Ÿ ๐ˆ๐ง๐ฏ๐ž๐ง๐ญ๐จ๐ซ๐ฒ 1.8 | -18.2%
๐€๐œ๐ญ๐ข๐ฏ๐ž ๐‹๐ข๐ฌ๐ญ๐ข๐ง๐ ๐ฌ 330 | -27.6%
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Instant Reaction: Mortgage Rates
'The Federal Reserve approved another jumbo rate hike, but mortgage rates still dropped below 7% last week. According to Freddie Mac, the 30-year fixed mortgage rate fell to 6.95% from 7.08% the previous week. Investors usually react based on their expectations and don't wait until the day the Fed makes its move. It is also promising that this was likely the last rate hike of this magnitude, as indicated by the Fed.
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A return to the sky-high interest rates of the 1980s isn't likely in today's economy, but let's compare the monthly mortgage payment now with the payment of 40 years ago in today's money. In real terms, after adjusting the median home price for inflation, the monthly mortgage payment was about $450 higher in 1982 than it is now. If mortgage rates were currently 9%, the monthly mortgage payment would be comparable to 1982 rates. Thus, in real values, current buyers pay less for their home purchase than buyers who purchased their home 40 years ago, although home prices are significantly higher now."
- Nadia Evangelou, Senior Economist NAR
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#Since1936 #GladysManion #STLRealtor #LuxuryRealEstate #STLRealEstate #StLouis #STLRealtor #SellingSTL #StLouisLuxury #StLouisRealtor #Clayton #LuxuryEstate #Ladue #TownandCountry #Brentwood #Kirkwood #RichmondHeights #Chesterfield #Frontenac #CWE #WebsterGroves #STLHomes #SaintLouisRealEstate #SaintLouisRealtor #MoveToStLouis #STLCity

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Cameron Marino joined Gladys Manion Real Estate as a Residential Real Estate Specialist in August 2022. Cameron, the youngest of three and born into an entrepreneurial St. Louis family, has worked for the family catering/hospitality business since childhood. Customer service and people skills are in his blood. He attended CBC High School and studied business at the University of Missouri-St. Louis. Working in the hospitality industry for many years, Cameron learned a lot about working with others and how to meet their needs. He is looking forward to applying that knowledge to his real estate business.

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Friday 9/23/22 Listing Updates

Friday, September 23rd, 2022

The Latest From Gladys Manion

NEW LISTING

61 Portland Drive
Frontenac

4 Beds | 3 Full, 2 Half Baths | $1,875,000

Open Sunday 9/25/2022, 11 am - 1 pm

Listed By
Alyssa Suntrup 314-359-3568

7915 Delmar Boulevard
University City

3 Beds | 1 Full, 1 Half Baths | $405,000

Open Sunday 9/25/2022, 12:30 - 2 pm

Listed By
Carol Butler 314-630-3165
Juli-Ann Felsher 314-303-3232

8136 Cornell Court
University City

3 Beds | 2 Full Baths | $375,000

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August Market Update

Tuesday, September 13th, 2022

๐€๐ฎ๐ ๐ฎ๐ฌ๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ | Year over Year Change
Central Corridor
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Average Sale Price $575,823 | +2.8%%
Average Price per/Sqft. $253 | +3.3%
Homes Sold 209 | -19%
Average % of List Price Paid 100.1% | -0.6%
Average Days on Market 25 | -16.7%
Months Supply of Inventory 1.8 | -21.7%
Active Listings 41 | -28.8%
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"Mortgage rates continue to escalate, moving closer to 6%. According to Freddie Mac, the 30-year fixed mortgage rate rose to 5.89%, surpassing their recent high in mid-June. As a result, the monthly mortgage payment is about 60% higher compared to last year. While borrowing costs have increased faster than peopleโ€™s wages, buyers currently need to spend 10% more of their budget for their mortgage payment if they want to buy the median-priced home....Nevertheless, home prices continue to rise as inventory remains tight." - NAR
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Gladys Manion Real Estate
#Since1936 #GladysManion #STLRealtor #LuxuryRealEstate #STLRealEstate #StLouis #STLRealtor #SellingSTL #StLouisLuxury #StLouisRealtor #Clayton #LuxuryEstate #Ladue #TownandCountry #Brentwood #Kirkwood #RichmondHeights #Chesterfield #Frontenac #CWE #WebsterGroves #STLHomes #SaintLouisRealEstate #SaintLouisRealtor #MoveToStLouis #STLCity

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Monday, August 8th, 2022

July Market Report | Year over Year Change

Central Corridor

Median Sale Price $400,000 | -2.7%

Median Price per/Sqft. $237 | +5.8%

Homes Sold 193 | -36%

Average % of List Price Paid 101.7% | +0.9%

Median Days on Market 26 | -13.3%

Months Supply of Inventory 1.7 | -22.7%

Active Listings 331 | -29.6%

Mortgage Rates Dip Below 5% Giving Buyers More Confidence

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June Market Report

Monday, July 11th, 2022

๐‰๐ฎ๐ง๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ | Year Over Year Change
Central Corridor
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Median Selling Price - $652,958 | +4.2%
Median Price per/Sqft. $252 | +6.8%
Homes Sold - 240 | -13%
Average % of List Price Paid 101.7.% | +1.7%
Median Days on Market - 6 | -25%
Months Supply - 1.7 | -19%
Active Listings 331 | -26%
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๐–๐ก๐š๐ญ ๐‡๐š๐ฉ๐ฉ๐ž๐ง๐ž๐ ๐ญ๐จ ๐Œ๐จ๐ซ๐ญ๐ ๐š๐ ๐ž ๐‘๐š๐ญ๐ž๐ฌ ๐‹๐š๐ฌ๐ญ ๐–๐ž๐ž๐ค:
โ€œThe Freddie Mac fixed rate for a 30-year loan took a sharp drop last week, falling to 5.30% and offsetting some of the significant rate increases of May and June amid rising recession concerns. The 40 basis point fall from last week comes on the heels of the recent volatility in the 10-year Treasury yield, which dropped below 2.8% in the first week of July and rebounded to 2.9% after spending most of June above 3%. Continued fears of a bear market have driven investors into safer, longer-term bonds, driving up the price of the 10-year note and pushing its yield below that of the 2-year Treasury. Economists and policy makers will watch closely to see whether these market conditions will lead to increases in the unemployment rate or decreases in production that characterize a recession. โ€œ
-Joel Berner/Senior Economist NAR
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๐–๐ก๐š๐ญ ๐ข๐ญ ๐Œ๐ž๐š๐ง๐ฌ: Prospective homebuyers who have been waiting through 24 consecutive months of year-over-year listing price growth of more than 8.5% may be well-positioned to make a purchase soon if current trends continue.

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Gladys Manion Welcomes New Interns!

Thursday, June 23rd, 2022

Gladys Manion Welcomes New Interns!

An internship at Gladys Manion Real Estate allows students to uncover their passions in real estate, marketing, and building productive relationships. For the past 20 years, Gladys Manion has offered internships to students in the St. Louis area. This year, three interns have joined: Massimo Seifarth, Eliana Brook, and Adam Sutter. Each of them hopes to gain new experiences in a professional real estate environment.

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