The number of homes on the market in St. Paul is very low. There are less than 300 active listings. The number includes homes with contingent offers on them. Some of those homes were on the market last fall but taken off for the holidays.
I am noticing that prices are remaining fairly flat. The median asking price is $272,300, down from December’s median sale price of $291,000. Homes are on the market longer and interest rates are higher.
Even if home prices go down with mortgage interest rates at around 7% the cost of buying a house will still be out of reach for many. rates are almost half a percent higher than they were a year ago.
According to Apartments.com rents went up 1.4% in St. Paul last year for an average increase of $18 per month. According to Rocket mortgage home prices increased by an average of 1.3% last year.
I’ll have numbers for January 2025 next week.

Ice sculptures are hard to photograph, especially on a white background.