Here are the August numbers for St. Paul home sales. The good news people like to compare this past August with August of 2010 which was one of the worst months since the housing crash began. We had a slow summer last year after the tax credits expired because when they were in effect all they did was encourage people who were ready to purchase a home to do it at the beginning of the year.
Home sales this August are up slightly from July which is fairly unusual and a good sign . . I think and up by almost 30% from August of 2010 which doesn’t mean much but it is the good news everyone is looking for. Home prices went down slightly from what they were in July. The Median home price in St. Paul for August 2011 was $102,448.
As I mentioned a week ago the lowest priced homes are selling fairly quickly and it is possible that the debt ceiling kerfuffle that impacted the world wide stock markets had a modest impact on local real estate too. The number of new listings is down and the inventory of homes on the market is fairly low which means that it may take buyers longer to find that perfect home so they should call me today so we can start looking.
august 2011 stpre
The numbers used to make this table were taken from the Regional Multiple Listing Service and are considered reliable but not guaranteed and they include single family residences, condos and townhouses.
For more local numbers see Local Market Conditions and Home Prices or ask your Realtor.
[…] We have sellers market absorption rates but it is still a buyers market. The inventory of homes on the market it low. There are people who want to sell but they won't sell because they can not get enough money for their home. Buyers will found bargains and low interest rates but they will not have as many choices. The inventory of homes on the market has been slowly shrinking and will shrink a bit more as we head into fall and winter. On a national level this is the fourth month in a row that the inventory or number of homes for sale has shrunk. The lower inventory has not lead to price increases at least not locally. […]