May sure flew by and homes sold quickly too. The strong seller’s market continues in St. Paul. We are seeing a little softening though as the median days on the market has doubled since last month and now stand at 17 days. There are still more home buyers than sellers.
On average sales, prices were higher than asking prices in most neighborhoods and in the city as a whole which means that prices are still going up. May is the first month under the new rent control ordinance in St. Paul. The ordinance will eventually have an impact on housing prices. Nationally some are saying that the pandemic home-buying spree has ended. Even if it has we are still in a strong seller’s market with a 1.2 month supply of houses for sale.
The numbers used to make the table posted below were extracted from the NorthstarMLS which is deemed reliable but not guaranteed.
For more local real estate numbers please see Local market conditions and home prices.
If you would like to know how much your house will sell for, contact me for a free no-obligation consultation.