Downtown St. Paul Condo Market

Downtown condos are still on average more expensive than condos in other parts of the city.  In fact median prices are almost 20% higher. They also take twice as long to sell.  

Cumulative average days on market for a St. Paul home is running at about 156 days and for downtown the average is 312 days.,  Cumulative days on market counts all the days that a home was on the market in the last year even if it was put on the market and taken off.  

The inventory of condos on the market in downtown St. Paul is very low.  There are only 35 units on the market that do not already have offers on them.  There are four units that have been on the market for more than 600 days and a couple that have been on the market for more than 1000 days.  Prices range from 44K to 2.1 million. 

There isn’t enough data for a median price for 2013, and prices will go up during the year until sometime in June and then go down slightly but should end the year higher than they started.  

For 2012 the city wide median home price was $120K and the median price of a downtown condo was 136K  The data used to make the chart came from the NorthStarMLS. Most homes that are sold in the area are sold through the MLS and the data is deemed reliable but not guaranteed.   

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Click on chart to enlarge

Great Northern Lofts

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Corner of Kellogg and Broadway
Kellogg and Wall
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The Great Northern Lofts

Nope they don’t build them like they used to.  The Great Northern Lofts are located in lowertown in downtown St. Paul on Kellogg and Wall street.  The building was built in 1887 and was the headquarters for James J. Hill, and the Great Northern Railway.  

 The building has been renovated and it now houses 53 lofts.   The lofts are bigger than most downtown lofts and have some unique architectural features like concrete barrel vaults. The building has a wonderful community room and an open air inner courtyard. 

The building isn’t on the skyway but it is now just across the street from the union depot and the Farmers market and the green line light rail line are just around the corner and the bike trails start just a few blocks away.   What a great place to live. 

There are currently 4 units for sale in the building ranging in price from $249-$629 1400 to 2400 square feet of living space with one or two bedrooms and one or two baths.  Pets are allowed in the building and the association dues cover heating and cooling. 

LRT construction Tracks

IMG 2756t edited 2Tracks on 4th street E

Two sets of tracks and they are even kind of curvy.  

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Out the windwo looking at the union depot

I took this out the window at CoCoMSP in lowertown.  The union depot is looking good and I like the pretty copper roof on the light rail station. It is indeed a work of art at least as far as light rail stations go. 

Tower of bargains at Gallery Towers

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gallery towers 26 W. 10th Street, St. Paul, MN 55102

The Gallery Towers condo building in downtown St. Paul is located at 26 West 10th Street.  It is off the beaten path unless you work at St. Josephs Hospital or any number of government offices in the area. 

I call this a tower of bargains because right now there are 12 units on the market priced between 39 and 89K.  The largest unit has 3 bedrooms.  The median price in the building last year was a little over 60K.  It may seem like there are a lot of units in the building for sale but with a total of 182 units there are always some on the market.

The Gallery Towers building was built 30 years ago and some of the units still have that kind of 80’s thing going on but they are in good shape and ready to move into with some wonderful views.  A couple of months ago I had a client buy one of the units.  He works nearby he paid cash and will save thousands on rent for years to come and be able to save even more money by walking to work.