Things are a little slower in downtown St. Paul than they are in the rest of the city:
Median days on market in St. Paul = 35 Average days on market = 38
Downtown St. Paul condos:
Median days on market = 59 average days on market = 82
There is a 4.2-month supply of downtown condos vs. a 1.3-month supply of homes for sale in St. Paul.
There is a 2.6-month supply of condos on the market in all of St. Paul and they sell in about 44 days.
Downtown St. Paul is still experiencing a seller’s market. Overall the downtown market tends to be more stable and it changes more slowly.
There is more housing than ever downtown and more than 10,000 residents. There are fewer businesses. I don’t have any number but I can see the vacant storefronts as I walk through the skyway.
The popcorn wagon is vacant and for sale. I am tempted. I would move it down to the river or maybe it could go near one of the many microbreweries in my neighborhood and I could sell popcorn.
This just in from the National Association of Realtors for July: “Existing condominium and co-op sales were recorded at a seasonally adjusted annual rate of 500,000 units in July, down 9.1% from June and down 29.6% from one year ago” “The median existing condo price was $345,000 in July, an annual increase of 9.9%.” Single Family homes were up 10.6% for the same period.