Downtown condos are still on average more expensive than condos in other parts of the city. In fact median prices are almost 20% higher. They also take twice as long to sell.
Cumulative average days on market for a St. Paul home is running at about 156 days and for downtown the average is 312 days., Cumulative days on market counts all the days that a home was on the market in the last year even if it was put on the market and taken off.
The inventory of condos on the market in downtown St. Paul is very low. There are only 35 units on the market that do not already have offers on them. There are four units that have been on the market for more than 600 days and a couple that have been on the market for more than 1000 days. Prices range from 44K to 2.1 million.
There isn’t enough data for a median price for 2013, and prices will go up during the year until sometime in June and then go down slightly but should end the year higher than they started.
For 2012 the city wide median home price was $120K and the median price of a downtown condo was 136K The data used to make the chart came from the NorthStarMLS. Most homes that are sold in the area are sold through the MLS and the data is deemed reliable but not guaranteed.
Click on chart to enlarge
