In the Central West End of St. Louis, there are increasing instances of condos going under contract within ten days of being listed. The rise in employment centered around the Cortex Innovation District seems to be reflected in the demand for nearby housing, and recent data indicates that this trend has been ongoing for several months.

The Central West End, close to Washington University and the hospital complex, has condo prices ranging from $350,000 to $450,000, while the historic district of Lafayette Square, primarily featuring townhouses, is priced around $400,000 to $500,000. Tower Grove South is relatively more accessible, with prices between $220,000 and $300,000, and Downtown properties are trading at levels around $250,000 to $320,000.

Recent trends show that both the Central West End and Lafayette Square are experiencing a gradual increase in prices, while Tower Grove South is seeing a larger increase due to an influx of younger residents. Downtown is showing a stable trend as listings continue to come onto the market.

From an investment perspective, the area around the Central West End, centered on the Cortex Innovation District, is gaining attention due to ongoing hiring by biotech and tech companies. As the employment base strengthens, there seems to be a potential for both rental and sales demand to increase.

In terms of rental yields, Tower Grove South and Downtown, with their lower sale prices, appear to be more favorable, with some cases reporting total rental yields of 7% to 9%.

However, it is important to note that there is still a significant gap between the north and south regions of St. Louis, and the overall population of the city is gradually declining, which should also be considered. Rising insurance costs must be factored into net yield calculations.

If Korean families are considering employment at hospitals or universities, the Central West End seems to be a practical option, while for investment purposes, neighborhoods like Tower Grove South with higher rental yields are worth comparing.