It is hard to believe June is past but it is all gone now. June was the six month in a row where we saw an increase in the number of homes on the market in St. Paul and an increase in the number of home sales and the first month this year we saw a slight decrease in the number of new listings.
The inventory of homes on the market is growing slowly because slightly more homes are listed each month than are sold each month. Both the average and the median home price when down slightly in June. Average home prices typically start to go up in January, peak in about April or May and then go down a little each month.
Overall the market is healthy and still a sellers market but not as much of a sellers market as what we saw in 2013. We seem to be headed toward a calmer, less bubblish and more balanced real estate market.
To view more numbers like these including tables like the one above for each month going back almost a decade see Local market conditions & home prices
The numbers used to make this report came from the Northstar MLS which is deemed reliable but not guaranteed which is OK because there really aren’t any guarantees in life.