lockboxes 2009 River Park Lofts
The inventory of homes on the market in St. Paul keeps getting lower. Did you know that Realtors and analysts refer to homes for sale as inventory? They are inventory.
Currently there are only 53 condos on the market in downtown St. Paul and five of them have offers on them that are waiting for bank approval because they are being sold short and even though the bank does not own them the bank has to approve the offer.
There are 15 units listed for less than 100K. For people that want to pay more there is a 2.8 million dollar unit available at the Lowery on St. Peter street. If that is a little to expensive there is a 1.4 million dollar unit available at River Park lofts on Wacouta street.
There was a lot of development in the last decade downtown especially in 2002 to 2005 before that there was not a lot of housing the the downtown area. There are still new units here and there because the housing market crashed before the new units were sold out. Many condo owners bought the units for a higher price than they can be sold for. There are owners who would like to sell but can not afford to.
There are bargains for buyers but there are also some units that are over priced by 30% or more.
Also see Go Downtown For Condo Bargains and Tower of Bargains
Canon City CO isn’t suffering from a housing shortage, it will be awhile before that happens. But we do need more inventory in some catagories. Trying to convince people now is a good time to sell is tough.