We can call this throwback Thursday. In May of 2012 homes sold for an average of 166 thousand in St. Paul with a median sale price of $125,000. In May 0f 2022 the median sale price for a house in St. Paul was 286K and the average was 325K.
If you bought a house in 2012 it may have doubled in value or maybe not but you probably have a lot of equity. Mortgage interest rates were at 3.8% by the end of May 2012.
2012 was a good year with the recession and the housing market crash behind us and home prices starting to rise back to what they were in 2006 when median home prices were 200K and the average sale price was 238K.
