Normally I would not make a big deal out of the fact that there are more than 1000 homes for sale in St. Paul, in fact there are 1061 assorted houses, town houses and condos on the market within the city limits of St. Paul. The last time we have more than 1000 homes on the market must have been at sometime in 2012.
Back in 2007-2008 there were more than 3500 homes on the market in St. Paul. in 2013 there were some months where there were less than 800 homes on the market.
We still have people who owe more on their homes than they can sell them for. In some cases it is because they bought the homes when home prices were higher than they are today like they were 10 years ago and in other cases they borrowed against the homes when the homes were at peak value and the interest rates were oh so low.
It also seems like there are more people who want to rent or who need to rent. In general the local real estate market is stronger than it was a few years ago but not like it was in 2004-2007.
The homes that are currently on the market have been for sale and average of 60 days and have been on and off the market an average of 90 days.