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St. Paul Homes Prices & sales by neighborhood

Posted on by Teresa Boardman

 It is Monday and I have some real estate numbers for St. Paul Minnesota because real estate is local and I like numbers.  

The numbers used to make the chart came from the Northstar MLS and are deemed reliable but not guaranteed.  I did not take any of the numbers I just borrowed them.

December is the slowest month of the year for home sales and prices are usually the lowest of the year.  Median prices in St. Paul were $104,500 for December 2011.  

For the first time since in many years but I do not know how many there was more buying going on in our market than selling.  The number of pending sales is higher than the number of homes that were listed.  This is great news for home sellers.  

december2011
December 2011

The inventory of homes on the market is very low and buyers are having a hard time finding that perfect home.  I have been watching every day for new listings for my buyers which is something I have not had to do in years.

I anticipate an increase in homes on the market and an increase in buying activity because we almost always see more activity in January than in December.  

For more numbers like these please see local numbers and market conditions.

Prices & Homes Sales by St. Paul Neighborhood

Posted on by Teresa Boardman

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. 

august2011stpre
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. 

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Home sales/prices by neighborhood

Posted on by Teresa Boardman
June 2011 home sales
St. Paul, MN Home prices June 2011

The chart above was made from numbers from our local MLS for St. Paul, Minnesota for the month of June 2011. The data is deemed reliable but not guaranteed but there are few guarantees in life. 

The median home price for the Month of June was 118,500 which is down from last month.  Prices went down slightly between May and June and that is something we don’t see very often.  Pending sales were up slightly and new listings were down.  The number of homes on the market is declining again indicating to me that the peak of the home buying and selling season for the year has come and gone for 2011. 

Interest rates on home loans remain at historic lows and home prices are low.  There are plenty of bargains to be had and for some buying is cheaper than renting. 

For more local real estate statistics please see “local market conditions and home prices”. 

Behind door number 2

Posted on by Teresa Boardman
 Door Number 2
 
 

It doesn’t matter if we are in a sellers market or a buyers market, sellers always wonder when they accept an offer if they should have held out for more or waited for a better offer.  They want to know what is behind door number 2 but often there is no door number 2.  If your home is on the market and a buyer makes an offer, work with that buyer even if your home has only been on the market for a few days.  The first offer could be the best offer and it could be the only offer this year.  I have seen homes go on and off the market for three or four years. There really are more buyers than sellers.  

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