Houses don’t stay on the market for very long these days but condos stay on the market twice as long especially if they are in downtown St. Paul. We have seen this trend before. It is a cycle but the good news is those downtown condos are selling more quickly than they did during the last cycle.
Owners of single-family homes that are not condos can expect an offer or two the first week on the market. For downtown condos, it may take more than a month. I can’t remember a time when downtown condos were selling faster than other types of housing in St. Paul. They have always taken longer to sell. Downtown has been quiet this year because of the pandemic but that is slowly changing now that more people are getting vaccinated.
This might be the perfect opportunity for those who plan in downsizing from a house to a condo.
