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 May 31 2012. The median home sale price for the month was $134,300 which is up from the below 100K lows we saw last winter which makes total sense because home prices usually peak in April, May and June.
may2112
The inventory of homes on the market is up very slightly from last month and the number of home sales is down slightly. Prices are up. I continue to hear from people who want to buy homes because for some it is less expensive than renting because rents are way up.
Buyers would like to have more homes to choose from and I believe there are sellers who want to sell but can not because they owe more on their homes than they can sell them for. We seem to be in a kind of holding pattern. This fall I anticipate the normal fall slow down in real estate sales and lower prices. Something to think about for those who are considering selling.
Gor more numbers like this please see local market conditions and home prices and remember real estate is local. Forget about what you see on the news and contact a real estate professional in your area to get the latest numbers. If you don’t know anyone let me know. I am very well connected and I know agents all over the country.
