Month: January 2018

January is the start of the consumption cycle

Posted on by Teresa Boardman

It is Friday and Fridays are for fun. Over the last few years, I have been getting rid of excess stuff. I made so much progress in 2017 that there isn’t much left to get rid of in 2018. I am going to try something new this year. I am going to see if I can make it through the year without buying anything.

I’ll have to buy food and other consumables and soap, toothpaste and a few other things. I’ll also need to make purchases for my business.

That might seem like a lot to buy but compared with all of the stuff I could buy it is almost nothing. If I truly need something that isn’t on my consumables or edibles list I’ll bet I can buy it used or even trade with someone and get rid of something I don’t want and exchange it for something I do want.

A few days after Christmas I found this display at Target. The yoga mats and the fancy fruity water were on the same shelves that were filled with cookies and sweets before Christmas. First, they help us fatten up and then they sell us stuff that can be used to slim down.

Can I make it through an entire year without buying anything? Can I make it through January? We shall see.

display at target
A few days after Christmas

Average and median home sale prices

Posted on by Teresa Boardman

I like to start the year by looking at data. Based on the numbers I have seen so far unless something changes, this year will be like last year. Like last year but with fewer home sales. Sales will fall off from 2017 because there are fewer home sellers. Buyers will need to watch the market and be ready to pounce when the right house comes on the market.

The average and median home prices have been rising. This is good news for homeowners who are not planning on buying. Average rents have been rising in St. Paul. The monthly cost of owning a home can be less than renting one. On a side by side comparison of renting Vs. owning a particular home, owning is going to cost less than renting.

 

Average & median home prices – St. Paul, MN

Record breaking new low

Posted on by Teresa Boardman
Graph by year homes for sale
Homes for sale in the Twin Cities

This isn’t the first time I have written about a record-breaking low number of homes listed for sale. In St Paul, there are only 243 homes on the market that do not have offers on them. The data in the graph comes from the Northstar MLS which is deemed reliable but not guaranteed. Buyer demand remains high and on average homes are selling quickly.

We are in a strong seller’s market. It isn’t a healthy market and has been out of balance for the last several years.

Ten years ago today!

Posted on by Teresa Boardman

This is a post from January 2nd, 2008. We have all learned much since then. Most of us never believed home prices would go down and that it would take a decade for them to go back up to what they were.

Sometimes I wish I could warn my past self of what is to come. I’ll have some December 2017 numbers later in the week.

10yearchart
The chart above is for sale prices of homes in the city of St. Paul over the past ten years.  The data is from the MLS which is deemed reliable but not guaranteed.   The table below shows the actual numbers.

The average home sale price in St. Paul for 2017 was $231,924, slightly above the average of 230,148 for 2006 which is when home prices peaked in St. Paul Minnesota.
Chart3
For more information about local real estate prices please see:

Local Market Conditions & home prices