In June everything went up. The number of homes on the market, new listing, home sales, prices all went up from the May 2020 numbers.
Even the average number of days on the market went up from 22 to 24 days. I attribute the increase to the civil unrest at the beginning of the month that halted activity in parts of the city for several days.
The number of New listing was 12% lower than June 2019 and as a result the number of home sales in St. Paul were down by more than 11% as compared with last year. Median home prices are up by more than 5% from last June.
If you plan on selling your home it won’t take long and if you plan to buy you will pay top dollar as you compete with other home buyers.
This market isn’t sustainable during a recession but I don’t think prices will go down anytime soon because even if there were half as many homebuyers there still would not be enough of a supply to meet the demand.
The numbers used to make the chart are from the NorthstarMLS which are deemed reliable but not guaranteed. There are few guarantees in life.