The picture has nothing to do with the post. I took it in Mears Park downtown last summer before it got so cold that I can't take pictures without freezing my camera off. I thought it would be nice to look at green trees and water instead of snow and ice so we can all remember why we live here and how beautiful it was is.
Every month I publish a chart with St. Paul homes sales and prices by neighborhood. In December 75 homes were sold in St. Paul and a large percentage of them were foreclosures. The average overall sale price was $119,382 which is down significantly from the January 2008 average of 184K. January's data was based on 175 sales with far fewer foreclosures in the data.
Decembers data also shows that in several neighborhoods the actual sale price was higher than the list price. I point this out because we have not seen it for a couple of years in any St. Paul neighborhood and it could be a sign that prices in some neighborhoods have hit bottom.
The inventory of homes on the market in St. Paul has declined. That means fewer homes for sale. That is typical in December. More homes will come on the market as we head toward Spring, that time of year when I can go out without freezing my camera off.
The data used for reporting on this blog is from the Regional Multiple Listing Service. it is deemed reliable but like, most things in life it is not guaranteed.
Twitter
Flickr
LinkedIn
Facebook
RSS
Posterous
Email
FourSquare
Yelp
SlideShare
Teresa – I stopped by to check out your site, and that picture of Mears Park and its colors were so compelling that I had to leave a compliment. VERY nicely done!
Thanks Jason. I thought it would be a distraction from the numbers and the snow.
So, we can put you in for a definitive bottom-call?
I’m writing this on my calendar.
Prepare your wagers, everyone.
PB – no I am not calling bottom. I need to see more data. We won’t know when the bottom actually was until it passes. Right now the banks are unloading the foreclosures and unless something changes there is another wave coming and it may be bigger than the first. Since we have never seen this situation before no one really knows what will happen. Well maybe you do.
I just wanted to say…I love your photos. I’m not stopping by any more for blogs, I just want to drool over your photographs!