Courtesy of Nick Terry
Even during the recession, new restaurants and businesses flocked to the Metro East’s downtown areas, particularly in Belleville and Edwardsville, Ill. Homeowners followed suit. “Many of the rejuvenated downtown streetscapes and building storefronts have nice new loft apartments,” says Dede Strano, president of Strano & Associates Real Estate.
The new commerce and affordable land there are draws for developers, particularly along highway corridors, says Al Suguitan, president and chief operating officer of the Greater Gateway Association of Realtors. (For those residents concerned about the commute, the opening of the Stan Musial Veterans Memorial Bridge and expansion of Interstate 64 have helped.)
In addition to new builds, there are affordable existing homes for first-time homebuyers. The median sales price in Madison County was $114,000 last year; in St. Clair County, it was $110,000. River communities like
Alton and Granite City offer homes in the $50,000 to $90,000 range. And the area around St. Clair Country Club’s renovated golf course in Belleville is a hot spot for buyers.
Both Strano and Suguitan expect Metro East sales to increase by about 4 percent this year. “We’re seeing more buyers out there,” Strano says. “With the fear of low interest rates edging up, it’s making the purchaser who’s sitting on the fence more inclined to get into the market.”
