Bike path in downtown St. Paul

bike path
Bikeway running north and south along Jackson street as viewed from the skyway

I have used the new bike path in downtown St. Paul a couple of times, it is a joy to ride.  It is part of the Capital City Bikeway. The design is beautiful and it is safer than the street. I can’t wait until there are some East/West bike paths.

The bike lane along Jackson will connect to the Gateway Trail which goes all the way out to Stillwater. According to Visit Saint Paul  St. Paul is not only bike friendly but one of the most bike-friendly cities.

I am often asked about biking by people who are moving into the area or who are choosing a neighborhood to buy a house in.

There is a lot of biking going on in the downtown area, even though it is still a dangerous place to ride.  I think my inner thrill seeker makes me do it. 🙂

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.

Housing for all

construction
Couple walking

An older but probably not elderly couple walk by the construction site where apartments are being built. The advertising on the sign in front shows a young man on a bike and lists some amenities including yoga and fitness center and bike storage.

The apartments are “smart” and there will be a rooftop terrance grill and lounge too. I work with young people and older people who are interested in living in Lowertown and most are attracted to the area, and the buildings in it by the same amenities.

Right now it seems like we need more housing of every type. Affordability is also important as rents remain high and wages remain fairly flat.

There is no such thing as identical condos

view
view from a River Park Loft

In a condo building it isn’t unusual to find unite that have the same floor plan and are the same size as the condo’s directly above and below. Yet they are not identical because they are on higher or lower floors. They are similar but not identical.

The condo on the same floor but down the hall may not be the same size or have the same floor plan and it doesn’t have the same view.

Each piece of real estate is unique even if it is in a building with similar units. A 900 square foot condo on the 25th floor may be worth 30% more than the same unit on the 2nd floor. The unit that overlooks the patio won’t be as valuable as the unit that is the same size and has the same floor plan but has a view of the river.

A north facing unit with all of the windows on the North side may be less valuable than the similar South facing condo.

Homes can be similar to other homes. Maybe they were built the same year using the same materials and are facing the same direction. If the homes are in different towns or neighborhoods the values are not the same.

Home buyers usually don’t have any problem understanding the differences.