Homes are selling quickly and often for over the asking price. Most of the city is experiencing a seller’s market, with a two-month supply of homes for sale, while downtown St. Paul is in a buyer’s market with a 10-month supply of condos. The condo market is experiencing a slowdown city-wide as high insurance rates result in higher association dues.
The average sales price downtown for July 2025 is high, but only because it is based on six sales, and two of those sales were in Lowertown in the Great Northern building. Each is larger and more expensive than the average downtown condo.
The number of new listings went up a bit in July, which means there are slightly more homes on the market. Prices continue to rise due to high demand and low supply.
The data used in the chart above was extracted from the NorthstarMLS, which is deemed reliable but not guaranteed.
