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The data used to make this table was complied from the data in the RMLS (regional multiple listing service), it is considered reliable but not guaranteed. The numbers are for all residential, single family homes, including town houses and condos listed in the in the city of St. Paul.

It looks like we had more activity in June as far as home sales as we have had in previous months and the inventory of homes on the market has gone down again. Of the 1667 homes currently on the market 1177 of them are listed at less than $200,000 and 413 are listed for less than $100. Of the 389 homes that actually closed 161 of them were in the 100 to 200K price range, and 133 of them were priced below 100K. There wasn't much action in the higher price ranges or as much inventory.

Homes have become more affordable and there are bargains out there.  We are seeing some changes because of changes in the appraisal rules and standards. It has been harder this last month to get financing and we are seeing more cases where the home appraises for less than what the buyer offers. In some neighborhoods there are so many foreclosures that it is hard for both Realtors and appraisers to find comparable properties to use for pricing. 

Prices have gone up slightly for the 4th month in a row. Buyers and sellers are asking if we have hit bottom.  I wish I could answer that question. For buyers who are sitting on the fence all I can say is that it has been several years since homes have been as affordable as they are today and at the same time interest rates are low and there is the $8000 tax incentive that expires at the end of the year. 

The median sale price for all of the homes sold this year, year to date is $97,500.  For last year the over all median price was $187,275. 

For more charts, numbers and graphs, which I know you all love. See the local market conditions category.