I just love numbers and here are some home sale numbers for July 2012. Home sales are down slightly from June which is to be expected because we usually peak in May or June. It is fun to compare this June to June 2011 because every month of the year just looks better as compared to last year.
While the average home price is up slightly from last month the median home price is down slightly and sitting at $130,000.
The data used to create the chart comes from the North Star MLS. The data is deemed reliable but not guaranteed. . . .which is alright because there are no guarantees in life. These numbers are for single family homes which includes condos in St. Paul, Minnesota for the month ending July 31 2012.
July 2012 Home sales
When I first looked at these numbers I thought that the inventory of homes on the market had gone up slightly from last month but they have not. In fact when I checked it appears that there are only *896 homes on the market in St. Paul that do not have offers on them. Many of the homes with offers on them are waiting for third party approval which means the homes are being short sold and the seller or owner has approved the offer but they are waiting for the bank to say yes.
In general the real estate market is stronger than it was last year. Home prices are being held down by appraisals and other economic factors. There is currently a shortage of some types of homes but the sellers are hanging onto them because they still can not get as much as they paid for them. If you have equity and would like to move now might be a good time. Interest rates are oh so low and homes are selling.
Real estate is local. for more numbers like these except for different months please see local market conditions and home prices.
