According to the Minnesota Realtors Association:
“October closed sales surged +29.8% to 10,290 homes sold versus a year ago. This is slightly lower than July’s historic peak (10,495 homes sold) and higher than any month in 2019. Pending sales also showed strong growth, up +22.4% over last October as consumers purchased properties at levels typically seen in the spring. Nearly every region in the state showed double-digit growth in closed sales.”
Nationally existing home sales were up 26.6% annually. There was also an 18.9% drop in the number of homes on the market nationally when compared with 2019.
October 2020 was indeed a good month for Minnesota home sellers. Conditions were closer to what we usually see in the Spring. Currently in St. Paul on average homes are on the market for 23 days. Sales prices are on average higher than asking prices.