A stable housing market

The housing market in St. Paul has been stable and consistent in the last few years. The number of homes sales is trending down slightly because there are fewer homeowners who wish to sell.

If you are planning to buy a house this Fall or during the winter you will likely encounter competition and multiple offers. Home sellers can expect

There are currently only 600 houses on the market.

The graph shows the inventory of houses for sale over the last ten years. The data used to make the graph is from the NorthstarMLS which is deemed reliable but not guaranteed.

Home for sale – St. Paul

Home sales and prices by neighborhood

October home sales data by neighborhood. Homes continue to sell quickly and for more than the asking price. There is still a shortage of homes for sale and prices continue to rise but more slowly than they rose in the spring.

The number of homes on the market at any given time has been steady. The seasonal peaks and valleys are much smaller than they used to be. Homebuyers will need a little more time to find the right house because there are fewer to choose from. Home sellers don’t need to wait until spring to get top dollar.

The data used to make the chart below was extracted from the Northstar MLS. It was gently sorted in an Excel spreadsheet and never stirred. It is deemed reliable but not guaranteed. There are few guarantees in life.

Table
St. Paul Home prices by neighborhood

The numbers in red indicate that the average sale price was higher than the average list price for the neighborhood. The overall average list and sale prices are pretty close.

For more numbers like these go to the “Local Market conditions and Home prices” category. If you have a house you would like to sell now or in the future contact me for a no-obligation consultation.

Yes you can sell a house in November

The housing market has changed. It is no longer difficult to sell a house in November. Right now homes are selling quickly in St. Paul. Over the weekend there were multiple offers on homes that had just been listed. Last week one of our listings sold the first weekend it was on the market.

Houses that are overpriced still linger on the market for a few weeks. Buyers should be brave and offer the sellers less than the asking price before the price is reduced and there are multiple offers.

Right now the inventory of homes on the market in St. Paul is low. There is a shortage of homes for sale. Affordable new construction would help but there isn’t any.

If you have a home you want to sell you can sell it during the winter and even during the holidays. The demand is strong and interest rates are low.

A look at the St. Paul Condo market

The condo market in St. Paul is strong. There is currently a 2.2 month supply of units on the market which is slightly higher than the 1.8 month supply of houses. There is a strong seller’s market for condos. Here is a loot at the median prices over the past 10 years.

chart
St. Paul – Condo sales

There are currently 85 condos on the market ranging in price from $99K to 2.3 million. They come in a variety of shapes and sizes and can be found in all neighborhoods.

The data used to make the graphic and other information in this post was found in the NorthstarMLS which is deemed reliable but not guaranteed.

 

Home prices and sales

Here are some home sale statistics for September in St. Paul Minnesota.

September home prices
September home sales St. Paul, MN

A typical pattern where home prices peak in April or May and then decline slightly through the Fall and Winter months. It still takes less than 30 days to sell a house in St. Paul. The number of pending sales for September is down slightly which is why the number of homes on the market is higher than it was in July.

We remain in a strong seller’s market where there are not enough homes on the market for buyers. Expect to see multiple offers on some homes.

The numbers used to make the table were extracted from the NorthstarMLS and are deemed reliable but not guaranteed.

For more, local real estate numbers see Local market conditions and home prices.

Home prices and sales by neighborhood

It is Monday and I have the numbers for August home sales. The shortage of homes for sale continues and on average actual sale prices are higher than list prices. As we head into fall prices will continue to go up but by smaller amounts than what we saw in the spring.

Median prices were lower in August than they were in July and it took about a day and a half longer(26.6 days) to sell a house in August than it took in July.

chart with home price numbers
August home sales St. Paul, MN

The data used to create the chart was extracted from the NorthStarMLS and was gently sorted using MS Excel and never stirred because that would be wrong.

If you would like to know how much your home will sell for, contact me for a free no-obligation consultation.

For more local numbers see Local Market Conditions & home prices.