It seems like the months are flying by. Here we are in November looking at October home sales. Most of the activity that resulted in sales in October actually happened in August and September. Interest rates seem to have peaked last week. We will likely see the impact of higher rates in the December numbers.
There are a few more homes for sale right now than there were last month and pending home sales went down. Prices are pretty stable. It takes less than 30 days to sell a house and the market favors sellers.
Here are home sales by St. Paul neighborhood for October 2023. These are single-family homes including condos. When the average sales price is higher than the average listed price that indicates that prices are or were going up. I think the numbers will look different in November because we are seeing a lot of price reductions. Buyers can and should negotiate.
