• Local Market Conditions & home prices
  • St. Paul and Minneapolis

    Twin cities median home prices
    Twin cities median home prices

    People who are not familiar with the twin cities do not always understand that Minneapolis and St. Paul are not the same place. There are many similarities and the differences often seem insignificant and most of them are until it is time to buy or sell real estate.

    In fact when looking at property values and housing we like to go down to the neighborhood level. There are some real estate companies and agents who specialize in Twin Cities real estate. I always say why work with a generalist when you can work with a specialist?

    Heck when I did for data from national reports sometimes I can not even find St. Paul specific data which is why I spend time creating me own reports and I take them down to the neighborhood level. Data trends are usually consistent across the metro area. In general when prices are trending upward in one city they are also going up in the other.

    My theory as to why home prices have gone up more in St. Paul than they have in Minneapolis is because wages and cost of living is a little more regional. Housing can only go up so high and still be affordable. Some of the most affordable housing in the cities is in St. Paul


  • Local Market Conditions & home prices
  • St. Paul Home Prices by Neighborhood

    September 2016 numbers

    Here are some September numbers as promised. I had planned on publishing them on Tuesday moments before an operating system up grade rendered my computer unusable. Ultimately the hard drive had to be reformatted. I do not need a computer to publish the numbers but I need one to create the chart because I need to import data from the MLS.

    The chart represents most of the home sales in St. Paul during the month of September 2016. Home prices often go down slightly as we move into fall and winter. The inventory of homes on the market is still very low but has gone up a little because more homes came on the market and purchases were about the same as last month.

    All data used to create the chart was taken from the NorthstarMLS which is deemed reliable but not guaranteed. The data covers most of the home sales in St. Paul.

    For more local data please see Local Market Conditions & Home Prices If you would like your home sale or purchase included in next months data, contact me today.

  • Local Market Conditions & home prices
  • Numbers for St. Paul Real Estate

    Average home sale prices

    I’ll be publishing numbers this week and thought I would kick it off with an average. I have to say I am surprised that the average home sale price was lower in September of 2016 than it was in September 2015.  On the other hand prices usually do not go up between August and September like they did last year.

    The data used to make the chart came from the Northstar MLS. The data is deemed reliable but not guaranteed.


  • For Home Sellers
  • How many offers?


    Homes are selling in multiple offers and occasionally folks brag about getting ten or more offers. Often and almost always three offers, maybe even two offers on a home for sale are enough. Only one offer can be accepted and usually offers will be very similar with one offer that stands out. Sometimes there will be a few almost identical offers and all will be for less than the asking price.

    Most sellers understand that once a great offer comes along there is no need to wait just incase a better one comes along. They accept the offer and move on.

    In most cases buyers will need to offer full price in a multiple offer situation and in some cases sellers decide not to disclose that there are other offers.

    If you have been waiting until Spring to put your home on the market you won’t need to if you want a quick sale and multiple offers.

  • Local Market Conditions & home prices
  • St. Paul homes selling quickly


    Going into fall and winter homes are still selling quickly with an average of about 45 cumulative days on market. Not too shabby. We are still experiencing a strong sellers market.

    Median sales prices in the Saintly city are around $178,000. The number of homes on the market remains low but appears to be going up slightly which is much better than going down slightly.

    I’ll have more numbers next week.

  • For Home Sellers
  • Low Inventory continues


    The chart shows the number of homes on the market over a ten year period. At the same time the chart below shows that home sales are strong. I suspect that if there were more homes on the market home sales would be even stronger. The demand for homes is high.

    Home sales in St. Paul

    If you have been thinking about selling your home you don’t have to wait until spring. It is unlikely home prices will go down this fall and there is generally less competition with other homes for sale in the fall.