The Guide to Selling Your Condo in Downtown St. Louis

Are you looking to sell your condo in Downtown St. Louis? Learn our expert tips and strategies to attract buyers and close the deal quickly.

The Downtown Condo Market

Unlike most areas of St. Louis, the Downtown market is in a buyer’s market.

Downtown condos sell more slowly than houses in the city and county. Currently, a condo spends about 55 days listed for sale before selling.

In the real estate market, a buyer’s market means buyers have more negotiation power. This happens when there are many homes for sale and fewer buyers looking. 

On the contrary, a seller’s market means sellers have more power.

In 2024, the downtown condo inventory has grown compared to the previous year, with 5-6 months’ worth of available listings on the housing market.

Simply put, buyers have a lot of choices. There are more condos for sale than people looking to buy. 

As a seller, it’s important to have appropriate expectations. Be patient, and make sure you are staying strategic with how you market and stage your condo. 

What Are Properties Selling for in Downtown St. Louis, MO?

Over the last 12 months, median sale prices of condos have been the following:

• 1-bedroom condos: $120,000
• 2-bedroom condos: $174,500
• 3-bedroom condos: $282,500

In this market, it will be vital to know what buyers are looking for and to highlight those things when listing and marketing. 

What Are Buyers Looking For?

Downtown Saint Louis is an attractive choice for buyers who want to experience urban living, walkability, and everything city life has to offer. 

Let’s look at the main things buyers are looking for in downtown living. 

Condo Amenities

Buyers are looking for the perks of condo and St. Louis loft living. 

When someone buys a downtown loft, they’re not just buying the unit. They’re buying into the building and, ultimately, the lifestyle. 

Since safety is often a concern for downtown buyers, they will be interested in safety features and security measures in your building. 

Here are the top features potential buyers are looking for:

Fitness Center: Is there a fitness center in the building or a partnership with a nearby gym?

Rooftop: Is there a rooftop space? Is there anything that makes it stand out, like a pool, lounging area, or amazing views of STL?

Secure Garage Parking: Some downtown buildings offer secure parking. Even though not all buyers have a car downtown, having a parking spot is still a highlight they look for. It also provides a secure place for your car and belongings. 

Security: Does the building have security? Are there cameras or guards on duty? 

Location and Walkability

One of the big reasons people choose to live downtown is the access to so many restaurants, attractions, and shopping. 

Being able to walk to a game, stroll down to a coffee shop to meet friends, or pass the arch on the way to work is appealing to people who want that urban experience.

BallPark Village, Enterprise Center, and CityPark: Being close to so many professional sports teams is appealing. Many buyers want to walk to watch a Cardinals game or see the St. Louis City SC in action.

Proximity to Market St: Since this major thoroughfare runs right through downtown and downtown west alongside a series of parks, it’s a big plus.

Proximity to Washington Avenue: Sellers in the Loft District, including Meridian Lofts, Lucas Lofts, Railway Lofts, or Bankers Lofts, should note the vibrant atmosphere, restaurants and entertainment options of Washington Ave.

Terra Cotta Lofts, Elder Shirt Lofts, The Marquette at 314 N Broadway, and The Syndicate Building at 915 Olive St can highlight being near Washington Ave without being in the middle of it, which will appeal to some buyers.

Other attractions you can consider are the City Museum, which is well-known throughout the U.S., and Union Station.

Easy access to other places in the St. Louis area like Central West End (CWE), Soulard, University City, Lafayette Square, Benton Park, Tower Grove East, and Forest Park. 

How About The View?

Out-of-towners and people coming from a more rural area looking for an urban experience will be looking for amazing views of the city, proximity to the iconic St. Louis Arch, and easy access to the greater St. Louis area.

Related Article: Your Guide to Living in Downtown St. Louis

Marketing Your Condo

Let’s explore how to leverage the features and highlights of your condo to attract homebuyers. 

Highlight Amenities

If your condo has any of the features we listed before ( fitness center, usable rooftop space, garage parking, security, etc.), be sure to mention them when listing your condo. 

If you have amazing views, natural light, a lot of square footage, and a location that makes it easy to walk to anything you need, bring that up as well. 

Be sure to highlight everything about your condo that makes life easier or more convenient. 

We’ve covered a lot about the exterior features, so let’s shift our focus to the interior of your condo. 

Whether you’re selling a 2,500 sq ft 3-bed, 2-bath condo, or a 900 sq ft 1-bed 1-bath loft, you can highlight any of the following features:

• High ceilings
• Open floor plan
• Brick-and-beam aesthetic
• New appliances
• Energy-efficient appliances 
• Large master bedroom
• Private balcony
• Gas fireplace
• Breakfast bar
• Large closets
• Granite Countertops
• Heated floors
• Floor-to-ceiling windows
• Walk-in closet
• Historic charm (but emphasize modern living)

If you’ve had any upgrades or remodeling done on your living space, be sure to include that as well. 

If you’re stuck on verbiage, check out other listings for other condos in your building to see what other people have said.

Should You Stage?

Staging makes a huge difference when buyers are looking at comparable properties and is highly recommended. 

The number one thing to think about when staging is that people like to view themselves in the space, so you want to make the space as neutral as possible.

Here are some tips to get you started:

Declutter: Consider using a storage unit and taking any excess furniture or personal items out.

Clean: Clean everything. Wipe down every surface: cabinets, walls, countertops, etc. Consider hiring a professional cleaner to do a deep clean.

Paint: Consider painting the walls a neutral color and paint everything the same color. This will make the place feel bigger and more open. 

Fixtures and hardware: Replace any bold or colorful fixtures with something more neutral. Put up basic matching light switch covers and outlet covers. 

They’re cheap and will make the place flow together better. 

Also, make sure the knobs and hinges on closet doors and cabinets match.

Show off your amazing views of the city: If you have an amazing view, make sure you can see it! Remove anything that’s blocking the view and rearrange furniture so that it puts the view front and center. 

Lighting: Make sure lighting is consistent and not too harsh. Soft white bulbs are a go-to. Make sure all lighting is functional. 

Get Professional Photos

People shop online first these days, and real estate photography is a specific skill. This is one thing that you don’t want to do yourself unless you are a skilled photographer. 

Setting a Price

Setting the right home price in a buyer’s market can feel overwhelming. You don’t want to set too high because potential buyers may avoid looking at it all together. 

Look at comparable properties in your building and in the area that have recently sold. 

Tip: Look at units that have sold directly above or below you. 

For example, if you live in unit 601 and you see that units 501 and 701 have recently sold, that will give you a good idea of your unit’s market value. Those units are likely to have the exact same floor plan as yours, and they will be the most comparable sales. 

If you’re working with a real estate agent, we’ll be able to help you set a price that’s attractive to buyers and gets you the most out of your investment. 

Know your Condo Association

You should be able to answer any questions about your condo association and direct people to the appropriate documents. 

Related Article: St. Louis Condo Buildings

It helps to review the Declaration of Covenants, Conditions, and Restrictions for your building. Be honest when responding to questions. 

If you’re working with first-time home buyers, be able to explain what a condo association does, how it works, and the costs involved. 

How’s the Financial Health of Your Condo Association? 

As a resident, you can request copies of the association’s financial statements, including the income statement, balance sheet, and cash flow statement. 

Check that the association is up to date on all payments, has sufficient reserves to cover unexpected expenses, or at least has a solid plan in place for managing unforeseen costs.

Important tip: If your condo building has a large amount of debt, it can make it very difficult for buyers to obtain financing. This can lead to buyers needing to pay all cash, which will drastically limit the pool of buyers for your unit.

Do you know of any assessments coming up? These can be a big turn-off for buyers, and you may want to consider offering a closing credit for any assessments coming in the next six months. 

When evaluating the budget, take a look at how items are split up: 

• Maintenance
• Utilities for common areas
• Insurance
• Improvement projects
• Reserves

Check for any increases over time or any pending assessments that could impact a future owner. 

Being able to speak honestly and fluently about the financial health of your condo association builds trust with potential buyers. 

This can, in turn, make a difference when potential buyers are comparing properties. 

Know the rules and regulations in case someone has questions.

• What are the noise limits?
• Are pets allowed?
• How do you dispose of trash? Is there a trash valet?
• What is the process for renovating your condo? 
• Are there restrictions on using your condo as a rental property at Airbnb?
• Who manages the condo association? 
• Who handles the maintenance? Is it hired out to a property management company?
• What are all of the fees associated with the condo association that the new owner will be responsible for?

A Quick Note on Cash Home Buyers

You’ve probably seen signs from cash home buyers with phrases like ‘We Buy Houses’ or ‘Cash Offer.’ 

If you need to sell quickly and can’t afford the time or expense of a traditional sale, these buyers can be a good option. 

However, be aware that you’ll typically receive significantly less for your condo. And it’s important to ensure the company is reputable and that you fully understand the terms of the sale.

Listing and Marketing Online

When listing your property online, you want to be as diverse as possible with the types of media you use. 

It keeps people engaged and helps them visualize the space with them in it.

Make a Video

Here, you can get a little creative and set yourself apart from other condos in the area. 

The video also gives people a better sense of the flow of the space. Be sure to move slowly to give people a chance to take everything in. 

Show the Floor Plan of Your Condo

There are online tools to help with this, such as Canva and Floorplanner. 

Creating a floor plan helps people visualize the space even more! Be sure to include the square footage.

Website Promotion

Consider building a simple website for your condo. 

Here you can use professional photos to highlight all of the amenities of your condo and the perks of the area. 

It also allows you to tell a story and show what makes your condo stand out from other properties.

Use multiple forms of media like photos, video, and narrative to keep people engaged. 

List on Multiple Sites

Everyone has their preferred site they like to browse properties on. Make sure you’re listed on all of them! 

Social Media

Social media is a powerful platform that you should definitely use. It’s free and will help you reach a larger audience. 

Facebook: On Facebook, you can look for groups that cater to people looking for homes in St Louis. Just putting “St. Louis Condo” into the group search pulls up several groups, many of which are specifically for people selling and buying condos.

Instagram: Use high-quality photos and videos, use those hashtags, and post often to keep people engaged.

Youtube: Again, use high-quality video. Having a video up on YouTube not only taps into that audience but gives you a handy link to use elsewhere. 

The more information you give people, the longer they stay engaged and the more likely they are to visit the place in person. 

Don’t Forget About the Open House!

Schedule an open house. 

Not only does this give you a reason to talk about your home sale on social media, but it also gives people a chance to come to ask questions and get a sense of the place in a low-risk environment.

Selling Your Downtown St. Louis Condo

One of the most frustrating things people can experience when shopping online for St. Louis homes is not finding the information they need to make a decision. 

The condo market is especially different from the single-family home market, adding challenges to the selling process.

If you’d like help selling your condo, please get in touch with us. We absolutely love working with condo owners in St. Louis, and sharing our expertise with new clients is the best part of the job.