Downtown Condos take longer to sell

The downtown condo market has mostly recovered from the housing market crash and great recession. Distressed condos were bought by investors who rented them out. I have sold a few condos that were owned by investors and are now owner occupied. There is a lot more downtown than there was during the recession, especially more luxury rentals.

It takes longer to sell a condo in St. Paul than it does to sell other types of homes. An average of 40 days to sell a condo anywhere is the city,  vs. 25 days to sell a fee standing type single family home and  it takes an average of 44 days to sell a downtown condo.

months supply
Months supply of condos

There is a 3.4 month supply of condos on the market downtown. The average sale price is around $211k. Right now there are 57 units on the market which is about the same as September 2016.

People who do not know downtown should tour several condo buildings before deciding where to live.