Fresh from the NorthstarMLS this morning. This is a snapshot of real estate activity in St. Paul. In the last week only 32 homes have come on the market but in that same time 45, have gone into the pending status which means the sellers have accepted offers. Homes are selling faster than they are being listed for sale. As a result that Record-breaking new low
that I wrote about on January 3rd is no longer a record. There are only 315 homes on the market in St. Paul right now and about 100 of those have contingent offers on them.
The real estate market has contracted. This is not a healthy market but a strong seller’s market. Now would be a good time to build some new homes and rehab some of those vacant houses instead of turning them into vacant lots.
I am a huge fan of sustainable, affordable tiny houses.
Home buyers will need to be patient and explore new listings as they come on the market.