As I feel like I am drowning in a sea of real estate data I like to look at this simple graphic. On a Monday morning it helps me get started and plan my week. This shows the general activity in St. Paul, MN over the last 7 days.*
What really stands out today is the number of price changes which are really price reductions. On average a home will get an offer within 30 days of the last price reduction made.
Pricing homes has always been tricky. I like to say it is an art rather than a science. The best place to start is to look at actual sale prices.
Overall the graphic shows an active real estate market in St. Paul. Houses are selling. It is very much a sellers market. The chart is only for the last 7 days but is pretty typical for what we have been seeing this year.
*source – NorthStarMLS data is deemed reliable but not gauranteed
