Living in chesterfield?

[moveagain]

Originally Posted by MUTGR

Curious about zillow prices. I hadn't looked up ours in a few years but I did recently and the price skyrocketed like $200k from the last time I checked. I don't believe it is at all reflective of the market, but our neighbor put up a McMansion and there are several others like that in the area (Kirkwood) so I assume that drives up their algorithm or formula or whatever.

In my original post I wasn’t really referring to the Zillow price (or the ‘ zestimate’) , but the actually listing prices for homes currently on the martket . The Zestimate seems to be based on the sales prices of recently sold homes that are similar , probably has some merit but may not be very useful

[HowardTeam]

Nearly 300 condos & townhomes have sold in Chesterfield over the past 12 months, and the vast majority went pretty quickly. The ones that take longer to sell are usually dated/need work or don't have covered parking and/or an elevator for upper units.

As for Zillow prices, they are frequently wrong. It's always interesting to watch when we list a property and the algorithm will adjust based on our list price. I guess Zillow assumes real live realtors know a little more than their computers do and they adjust accordingly. I've seen some jump by $100k or more!

[moveagain]

During my recent visit to chesterfield I found out about the new Pfizer campus being built there at the moment , wonder how much impact it would have on the property values in that area

[flynavyj]

I don't see much negatively impacting chesterfield home/housing values for the foreseeable future. Despite this boards often leaning towards St. Louis City or inner-ring burbs, West County is still the biggest "status symbol" you can purchase in St. Louis, and Chesterfield is about as "in that club" as you can get.

[FrankMiller]

Originally Posted by flynavyj

I don't see much negatively impacting chesterfield home/housing values for the foreseeable future. Despite this boards often leaning towards St. Louis City or inner-ring burbs, West County is still the biggest "status symbol" you can purchase in St. Louis, and Chesterfield is about as "in that club" as you can get.

Chesterfield is aging, but it's also close to the economic center of the region due to westward sprawl, so from an investment perspective I could see it going either way. I guess I'd split the difference and say it will continue to be valued for offices, but residential will be stagnant as people either live somewhere cooler (i.e. closer to the city) or somewhere newer.