One would think that the leasing of homes would be on the decline. With the recovery of the housing values and record number of housing sales so far in 2016, you would expect the leasing of high end homes would react inversely to the number of sales. Surprisingly in August we saw a new record number of homes lease in St. Louis county for over $1,000 per month in rent. The number of executive level homes continued to increase with a total of 101. These are only the single family homes located in St. Louis County tracked in the MARIS MLS with rents over $1,000 per month.
According to MARIS MLS data, of the 101 homes leased during August, 2016 in St. Louis County for over $1,000 per month:
- 56 leased over $1,500
- 22 leased over $2,000
- 12 leased over $2,500
- 4 leased over $3,500
Year over year we see leasing of high end homes to remain strong and continue to increase. Demand continues to increase from corporate relocation clients and other tenants who simply prefer not to jump into the real estate ownership at this time. Below shows the number of leases over $1,000 in St. Louis county since January 2012 (according to MARIS MLS)