There is a 2.5 month supply of houses on the market in the Hamline Midway neighborhood. That might be because homes in that neighborhood are more affordable than they are in other neighborhoods. The average sale price in the Midway area is $160K compared with an $198K average for the rest of the city. In Saint Paul there is a 3.7 month supply of homes on the market which makes it a strong seller’s market.
Housing supply is a measure of how long it would take to sell all of the houses that are currently for sale at the current rate they are being purchased or absorbed. Early next week I’ll have some home sale numbers for St. Paul for the month of June. I do like numbers and data and actual facts.
For more local numbers see Local Market Conditions and Home Prices. Real estate is local.