stpaul

St. Paul Home sales and Prices by Neighborhood

Posted on by Teresa Boardman

Numbers are a great way to start the week and these numbers represent home sales in the city of St. Paul, MN by neighborhood for the Month of March 2014.  Even though temperatures were below average home sales and prices were about what I would have expected for the month. Generally as we head into spring the number of home sales increases city wide and the prices go up. I noticed in the Macalester-Groveland neighborhood, and the Payne -Phalen neighborhood  the number of homes that went pending is greater than the number that were put on the market.

The median home sale price for St Paul was around 144K in January, and it was 153,500 for March. The average home sale price is also up by about 4% since January.

Table
March 2014 numbers

Even though 837 homes are currently for sale in St. Paul many of them have contingent offers on them leaving about 652 with no offers.

The numbers used to make this table came from the Regional Multiple Listing Service (RMLS) which is deemed reliable but not guaranteed.  There is no better source for local home sale data.  No numbers were harmed in the creation of this table.  They were instead imported into a MS Xcel spreadsheet where they were carefully sorted, totaled and averaged. 

For more local data for home sales in St. Paul, MN please see the Local Market Conditions and Home Prices category.

Victoria Park 18 years later

Posted on by Teresa Boardman

Plans for the land that used to be a tank farm owned by Kock and Mobile Oil or maybe it was Kock/mobile.  I have lived in the area long enough so that if I try hard I can still see the large oil tanks.

I was in the room in the mid-1990’s when the Ford Road Federation (district council 9 started talking about housing on the site.  I was there for the ground breaking in 2003  for what was going to be the biggest housing development ever within the city limits of St. Paul.

Some town houses were finished and ready to sell just after the housing boom and they sat vacant.  no one would buy them and no more townhouses were built.  Eventually, there were rented out. 

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Victoria Park 2008

Plans changed and part of the site was used for Nova Classical Academy and some of it will be made into a city park and now at leas the town houses that were built are not so lonely as the site is being used for Victoria Park Luxury apartments.  

luxury appartments
luxury apartments

The apartments are 1, 2 and 3 bedroom and range in size from 542 square feet to over 2000 square feet.  Current rental rates are 1050 to 2025.  There is an impressive list of amenities and the land is near the river trails and park lands.

Healthy neighborhoods need all types of housing and it will be good for the neighborhood.  I sure hope there is demand for these units.  I know there is a strong demand for senior housing and market rate rentals but do not know anything about luxury rental housing.  The marketing materials appear to be aimed at people in their 20’s and 30’s.  

Part of the point of the development was to put jobs and housing together. Victoria Park is right next door to Crosby Lake Park which is an industrial park that has 6 businesses in it and either has 295 jobs or 526 jobs depending upon which number is right on the Port Authorities web site. 

Will it work out this time?  Will the apartments succeed?  If they do it will be good for the community. 

Happy Trails

Posted on by Teresa Boardman
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Morgan Trail

On the 4th of July I biked from downtown St. Paul to Minnehaha park in Minneapolis.  One of my favorite bike rides because of the river and the view of Fort Snelling at the overlook and the lock and dam by the old Ford Plant and of course Minnehaha falls.

As I went along the path I ended up giving people directions and kind of acting as a tour guide.  

  • No Minneapolis isn’t far from St. Paul

  • Sure just go over the Ford Bridge and you will be on the Minneapolis side of the Mississippi River.

  • The bike path kind of follows the river

  • Sure you can go to Minnehaha falls and you can’t miss them, take a left at the end of the Ford Bridge.

  • Yes if you take a right at the end of the bridge you will eventually get to the Stone Arch Bridge.

I love biking on the 4th of July.  I like seeing St. Paulites out and about and doing touristy things.  If you want to bike the trails along the river you will find these little informational stations with maps that show the major landmarks.  Enjoy!

youarehere
you are here

July Home sales for St. Paul, MN

Posted on by Teresa Boardman

 I just love numbers and here are some home sale numbers for July 2012.   Home sales are down slightly from June which is to be expected because we usually peak in May or June.  It is fun to compare this June to June 2011 because every month of the year just looks better as compared to last year. 

While the average home price is up slightly from last month the median home price is down slightly and sitting at $130,000. 

The data used to create the chart comes from the North Star MLS. The data is deemed reliable but not guaranteed. . . .which is alright because there are no guarantees in life. These numbers are for single family homes which includes condos in St. Paul, Minnesota for the month ending July 31 2012.

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July 2012 Home sales

When I first looked at these numbers I thought that the inventory of homes on the market had gone up slightly from last month but they have not.  In fact when I checked it appears that there are only *896 homes on the market in St. Paul that do not have offers on them. Many of the homes with offers on them are waiting for third party approval which means the homes are being short sold and the seller or owner has approved the offer but they are waiting for the bank to say yes. 

In general the real estate market is stronger than it was last year.  Home prices are being held down by appraisals and other economic factors.  There is currently a shortage of some types of homes but the sellers are hanging onto them because they still can not get as much as they paid for them.  If you have equity and would like to move now might be a good time.  Interest rates are oh so low and homes are selling. 

Real estate is local. for more numbers like these except for different months please see local market conditions and home prices.

St. Paul Home Prices and sales by neighborhood

Posted on by Teresa Boardman

 I am not sure how it happened bur I missed January which is weird because it is a big cold month and hard to miss.  here are some statisitcs for January home sales in St. Paul, Minnesota.  

The data used to create the chart comes form the North Star MLS.  The data is deemed reliable but not guaranteed.   We will have numbers for February sometime next week.

Home prices are about what they were in January of 2011.  The number of home sales is up from a year ago but about the same as it has been for the past three months.  Real estate is local and these numbers may not reflect what it going on in your area.

The inventory of homes on the market continues to decline, there are about 25% fewer homes on the market today than there were a year ago.  Prices are being held down by sluggish demand and the large number of below market value foreclosures on the market.  

jan2012
January 2012

For more reports and local real estate numbers check the Local Market Conditions & Home prices category. 

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