Declining home sales

Home sales in St. Paul declined for the 3rd year in a row. The decline is due to fewer home sellers. It has to do with demographics. Older homeowners are opting to age in place rather than downsize.

Buyers are still buying and there is less than a two month supply of homes for sale in much of the metro area. Home sales in Minneapolis have been fairly flat for the past five years as the seller’s market continues.

Home sales in 2020 should be about the same as they were in 2019. Home prices will go up in St. Paul by a modest 3 or 4%.

2012 - 2019 yearly home sales
Home sales in St. Paul

Data used to make the chart came from the NorthstarMLS which is deemed reliable but not guaranteed.

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