When I mention downtown it is assumed that I mean downtown Minneapolis and sometimes I do but today I am doing a deep dive into downtown St. Paul housing. There is more housing than ever in downtown St. Paul. The housing units that are individually owned are condos. There are also several apartment buildings including some luxury housing.
There are about 7500 people living downtown. The population has grown at the same time there is less retail and more vacant office space than ever. Downtown used to be kind of quiet at night and busy during the day now we are seeing the opposite because there are more people living downtown and there are more restaurants and bars, a ballpark and the farmer’s market too. Let’s not forget the Ordway, Union Depot, and CandyLand. The children’s Museum and the Minnesota Science Museum are down there too.
In 2021 185 condo units were sold. The average list price was $234, 564 and the average sale price was $229,583. There is a 4.5 month supply of condos for sale which means it is a seller’s market but in the rest of the city, there is a 1.3 month supply of houses for sale which is an even stronger seller’s market.
Downtown condos were on the market for an average of almost 74 days vs. the almost 23 days for housing in the rest of the city.
Currently, prices in downtown St. Paul start at less than 100,000 for a very small condo and they go up into the millions.
