Market success rate is the percentage of listings that sell within a given time period.  As much as we would like to think it, all listings do not sell.  Listings do not sell because of the price, condition of the property, and the agent that you select.  Any one or a combination of those factors will keep a property on the market for longer than expected.

Here are the questions I would ask my REALTOR?

1. What is the market success rate of lofts downtown?
2. What is the market success rate of lofts in my price range downtown?
3. What is the market success rate of the lofts in my building?
4. Have there been any recent solds in my building?

If the success rate is 90-100% then you are in a sellers market.

If the success rate is 60-90% then you are in a balanced market.

If the success rate is under 60% then you are in a buyer's market.

Here is are some questions to ask your agent...

1. What is your market success rate in selling lofts downtown?
2. Can you tell me what absorption rate is?  If they cannot answer this question or hesitate than look at your phone and say you are late for an appointment and run like the wind.

Since the loft market downtown St. Louis does have a surplus of inventory pricing, condition and the agent you select will sell the loft in a reasonable period of time.