Of “Community Investment”.
The average selling price of a home in the city has been on a steady decline since the shooting of Brown last August, according to housing data compiled from MARIS, an information and statistics service for real estate agents. Prior to Brownâ€™s death, the average home sold in 2014 was selling for $66,764. For the last three and a half months of the year, the average home sold for $36,168, a 46 percent decrease.
The trend has continued on through this year, with the average home selling for only $22,951 so far in 2015. Another negative indicator: in the eight and a half months leading up to Brownâ€™s death, the average residential square foot in 2014 was selling for $45.82. In the eight and a half months since Brownâ€™s passing, the average residential square foot in the city has sold for $24.11. Thatâ€™s about a 47 percent downtick in one of real estateâ€™s core indicators.
â€œThis is not normal for the region,â€ says Crista Patton, a local REMAX real estate agent who helped get these numbers for Fusion. â€œLast time I pulled up numbers like this for a neighborhood around here, we were seeing the market going up,â€ she says. â€œIn St. Louis in general, the market is going up, and as a whole itâ€™s almost completely recovered from the recession.â€
This is your property values on Federal Government Promotion of Racial Hatred.