Homes are selling pretty quickly all over the metro area but some St. Paul neighborhoods are hotter than others. In these hot spots homes sell very quickly, there is less than a two month supply of homes on the market and on average sellers are getting more than 99% of their final asking price.
The chart below shows months of inventory, as compared with the city as a whole as is one of the measures I used to determine where the hot spots are in St. Paul. I also looked at average days on market and at list price Vs. sales price. Here are the top 3:
- Hamline Midway
- West 7th
If you are selling a home outside of St. Paul or in one of out many lovely neighborhoods your home will likely sell quickly if it is correctly priced but you may not get multiple offers the first day or week your home is on the market. These are the highest demand neighborhoods right now.
Come back tomorrow for the monthly home sales numbers for the month of July.
Also see “Seller expectations sky rocket”