The local housing market is pretty stable and predictable these days and healthier than it has been in awhile. Prices appear to have peaked in June which is pretty normal. The market starts to slow a bit in the fall and prices go down a little. The median home price in St. Paul was $127,500 in August which is down from what I believe was this years peak: $132K in June.
Lower priced homes are still the hottest sellers and by lower priced I mean less than 100K. Hones are being purchased and rehabbed.
The data used to create the chart comes from the North Star MLS. The data is deemed reliable but not guaranteed. . . .which is alright because there are no guarantees in life. These numbers are for single family homes which includes condos in St. Paul, Minnesota for the month ending August 31 2012.
The inventory of homes on the market remains small but is slightly better then last month. It is a challenge finding buyers homes that are ready to move into and are in the 120K to 225K price range. . . although I did manage to hook up with some buyers who looked at more than 30 homes in the last month. As soon as they came on the market we went and looked at them. Some homes are selling very quickly and are getting multiple offers.
For more local numbers please see Local Market Conditions and Home Prices. If you have a home you would like to sell let me know and we will get it done.