Barker and Hedges Real Estate BlogRecently posted or modified blog posts by tag - Summit Universityhttps://www.barkerhedges.com/blog/Copyright BarkerHedges.com2013-07-09T08:59:29-07:00tag:barkerhedges.com,2012-09-20:2145Architectural Style - Queen Anne New York Row HousesThere were lots of different types of New York row houses, including those constructed in the Queen Anne style. Much like the Victorian Queen Anne style single-family homes, these rowhouses became fashionable in the 1880s and 1890s. They are characterized by their asymmetrical forms, front-facing gables, and use of contrasting materials, colors, and textures. Victorian Queen Anne New York Style Row Houses often have ornamental spindles, brackets, and other eccentric and fanciful details with Classical, Renaissance precedents and Romanesque Revival influences. They have a "whimsical juxtaposition" of window pane sizes, often pairing double-hung windows with a small paned upper sash. Three-sided projecting bay windows and and multi-paneled wooded doors are also typical features of QUeen Anne New York Row Houses. In the <a href="https://www.barkerhedges.com/summit-university-real-estate/" target="_blank">Summit University neighborhood of Saint Paul</a>, there are excellent examples of the Victorian Queen Anne Style of New York Row House.
<img src="https://assets.site-static.com/userfiles/441/image/queen_anne_row_houses_500.jpg" title="queen_anne_row_houses_500" alt="queen_anne_row_houses_500" height="323" width="500" /><br /> 2009-05-09T21:30:00-07:002013-07-07T22:27:20-07:00Matt Barkertag:barkerhedges.com,2012-09-20:2083Saint Paul Real Estate Market Analysis: December 2008The last St. Paul real estate market analysis for the year of 2008. Let’s get it done! New posted listings for homes in St. Paul, Minnesota, increased in December according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. During December, there were 399 new listings in St. Paul, compared to the 351 homes put up on the market during the same month of 2007. That is an increase of about +13.7%. Unlike November, lots of neighborhoods saw increases in new listings. The increase in new listings is a little unusual, given that December is so full of holidays. Here is a breakdown of new listings by Saint Paul neighborhood: (Barker & Hedges blog entry about November 2008 St. Paul Real Estate Market Activity.)<br />
<br />
Como 13 (+18.2%)<br />
Crocus Hill 23 (+4.5%)<br />
Downtown Saint Paul 17 (+21.4%)<br />
East Side 104 (+25.3%)<br />
Highland Park 16 (-5.9%)<br />
Mac-Groveland 12 (-40.0%)<br />
Merriam Park 4 (-55.6%)<br />
North End / Frogtown 70 (+40.0%)<br />
Phalen 69 (+30.2%)<br />
Southeast 18 (-10.0%)<br />
St. Anthony / Midway 16 (-0.0%)<br />
West 7th 13 (-27.8%)<br />
West Side / Cherokee 24 (+50.0%)<br />
<br />
Saint Paul’s posted new listings of homes for sale in 2008 ended at 6,859. That is a decline of -8.8% from 2007’s 7,520 homes listed for the year. Mac-Groveland, St. Anthony / Midway, and West 7th neighborhoods experienced the greatest declines in new listings. The Phalen and West Side / Cherokee neighborhoods have been the only St. Paul neighborhoods that saw boosts in new listings. Homes listed in Saint Paul by neighborhood:<br />
<br />
Como 381 (-18.8%)<br />
Crocus Hill 494 (-18.5%)<br />
Downtown Saint Paul 383 (-20.2%)<br />
East Side 1514 (-2.5%)<br />
Highland Park 439 (-12.7%)<br />
Mac-Groveland 370 (-21.8%)<br />
Merriam Park 189 (-21.3%)<br />
North End / Frogtown 860 (-5.6%)<br />
Phalen 1019 (+15.3%)<br />
Southeast 251 (-21.3%)<br />
St. Anthony / Midway 348 (-26.3%)<br />
West 7th 204 (-23.9%)<br />
West Side / Cherokee 378 (+14.5%)<br />
The number of homes sold within St. Paul, Minnesota, in December 2008 are still higher than the previous year. There were 217 homes sold throughout the month, a +5.9% increase over the 205 homes sold during December of 2007. For the 2008 year, there were 3,046 closed sales from January through December. In 2007, there were 2,743 closed sales. That is +11.5% more homes sold in 2008 than in 2007.<br />
<br />
Closed sales on homes for December 2008 in Saint Paul by neighborhood:<br />
<br />
Como 13 (+18.2%)<br />
Crocus Hill 23 (+4.5%)<br />
Downtown Saint Paul 17 (+21.4%)<br />
East Side 104 (+25.3%)<br />
Highland Park 16 (-5.9%)<br />
Mac-Groveland 12 (-40.0%)<br />
Merriam Park 4 (-55.6%)<br />
North End / Frogtown 70 (+40.0%)<br />
Phalen 69 (+30.2%)<br />
Southeast 18 (-10.0%)<br />
St. Anthony / Midway 16 (-0.0%)<br />
West 7th 13 (-27.8%)<br />
West Side / Cherokee 24 (+50.0%)The prices of homes sold in St. Paul have continued to fall. The average sales price of a home sold in December was $138,227, a big change from the $208,108 of December 2007. That is a decrease of -33.6%. Only the Crocus Hill neighborhood saw an increase in real estate prices in December. The average sales price of homes in Saint Paul for 2008 has dropped to $170,184 from the $228,858 of 2007. That adds up (or subtracts!) to a decrease of -25.6%. The percentage of St. Paul homes which sold at their original list price was 88.1%, just a little bit higher than 2007’s 87.2%.<br />
<br />
Average prices of homes sold in Saint Paul by neighborhood during December 2008:<br />
<br />
Como $169,505 (-35.0%)<br />
Crocus Hill $331,360 (+3.3%)<br />
Downtown Saint Paul $166,713 (-26.3%)<br />
East Side $87,015 (-37.5%)<br />
Highland Park $270,760 (-26.0%)<br />
Mac-Groveland $286,940 (-18.4%)<br />
Merriam Park $212,757 (-0.2%)<br />
North End / Frogtown $50,042 (-48.3%)<br />
Phalen $75,749 (-38.1%)<br />
Southeast $142,933 (-3.3%)<br />
St. Anthony / Midway $183,738 (-1.8%)<br />
West 7th $99,378 (-33.1%)<br />
West Side / Cherokee $117,718 (-10.2%)<br />
<br />
In December of 2008, a home in St. Paul was on the market for an average of 144 days before selling. In December of 2007, homes in Saint Paul were on the market for an average of 140 days before they sold. Homes in Mac-Groveland, Southeast, and West 7th are selling after being on the market for around 3 months or less while homes in Crocus hills are spending 260 days or more on the market.<br />
<br />
This is a brief analysis of the St. Paul real estate market based on calculations by the Minneapolis Area Association of Realtors. These statistics do not reflect all situations.<br />
<br />
Browse homes for sale by Saint Paul Neighborhood:<br /><br />
<a href="https://www.barkerhedges.com/battle-creek-highwood/">Battle Creek & Highwood Real Estate</a>
<br /><a href="https://www.barkerhedges.com/como-park-real-estate/">Como / Como Park Real Estate</a>
<br /><a href="https://www.barkerhedges.com/downtown-saint-paul/">Downtown Saint Paul Real Estate</a>
<br /><a href="https://www.barkerhedges.com/greater-east-side-real-estate/">Greater East Side Real Estate</a>
<br /><a href="https://www.barkerhedges.com/hamline-midway-real-estate/">Hamline-Midway Real Estate</a>
<br /><a href="https://www.barkerhedges.com/highland-park-real-estate/">Highland Park Real Estate</a>
<br /><a href="https://www.barkerhedges.com/daytons-bluff-real-estate/">Dayton’s Bluff Real Estate</a>
<br /><a href="https://www.barkerhedges.com/payne-phalen-real-estate/">Payne-Phalen Real Estate</a>
<br /><a href="https://www.barkerhedges.com/macalester-groveland-real-estate/">Macalester-Groveland Real Estate</a>
<br /><a href="https://www.barkerhedges.com/merriam-park-real-estate/">Merriam Park Real Estate</a>
<br /><a href="https://www.barkerhedges.com/north-end-real-estate/">North End Real Estate</a>
<br /><a href="https://www.barkerhedges.com/st-anthony-west-real-estate/">St. Anthony / Midway Real Estate</a>
<br /><a href="https://www.barkerhedges.com/summit-hill-real-estate/">Summit Hill Real Estate</a>
<br /><a href="https://www.barkerhedges.com/summit-university-real-estate/">Summit University Real Estate</a>
<br /><a href="https://www.barkerhedges.com/thomas-dale-real-estate/">Thomas-Dale Real Estate</a>
<br /><a href="https://www.barkerhedges.com/west-side-real-estate/">West Side Real Estate</a>
<a href="https://www.barkerhedges.com/west-7th-real-estate/">West 7th Real Estate</a>2009-01-18T22:27:00-07:002013-07-09T02:42:17-07:00Matt Barkertag:barkerhedges.com,2012-09-20:2064Saint Paul Real Estate Market Analysis: November 2008New posted listings for homes in St. Paul, Minnesota, decreased in November according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. During that month, there were 398 new listings in St. Paul. In November the previous year, there were 481 new listings. That is a reduction of about -17.3%. The only neighborhoods which saw increases in new listings were the Phalen and Merriam Park neighborhoods of Saint Paul. A decrease in new listings is to be expected now as the winter season really starts kicking up snow. (Barker & Hedges blog entry about October 2008 St. Paul Real Estate Market Activity.)<br />
<br />
Como 18 (-25.0%)<br />
Crocus Hill 22 (-12.0%)<br />
Downtown Saint Paul 14 (-33.3%)<br />
East Side 98 (-28.5%)<br />
Highland Park 23 (-43.9%)<br />
Mac-Groveland 21 (-12.5%)<br />
Merriam Park 17 (+54.5%)<br />
North End/Frogtown 56 (-0.0%)<br />
Phalen 60 (+1.7%)<br />
Southeast 16 (-5.9%)<br />
St. Anthony/Midway 13 (-43.5%)<br />
West 7th 16 (-30.4%)<br />
West Side/Cherokee 20 (-4.8%)<br />
<br />
Saint Paul’s posted new listings of homes for sale from January through November are at 6,460. That is a decline of -9.9% from last year’s 7,169 for the same time period. Southeast, St. Anthony / Midway, and West 7th neighborhoods continue to experience greatest declines in new listings. The Phalen and West Side / Cherokee neighborhoods have been the only St. Paul neighborhoods that saw boosts in new listings through November.<br />
<br />
Como 368 (-19.7%)<br />
Crocus Hill 470 (-19.5%)<br />
Downtown Saint Paul 366 (-21.5%)<br />
East Side 1411 (-4.0%)<br />
Highland Park 423 (-13.0%)<br />
Mac-Groveland 357 (-21.2%)<br />
Merriam Park 187 (-19.0%)<br />
North End/Frogtown 789 (-8.4%)<br />
Phalen 950 (+14.3%)<br />
Southeast 233 (-22.1%)<br />
St. Anthony/Midway 332 (-27.2%)<br />
West 7th 191 (-23.6%)<br />
West Side/Cherokee 354 (+12.7%)<br />
<br />
As always with these analyses we put together each month, this is the paragraph for good news. The number of homes sold within St. Paul, Minnesota, are still higher than last year. There were 206 homes sold throughout the month, a +7.3% increase over the 192 homes sold during November of 2007. For the year to date, there have been 2,804 closed sales from January through November. Last year during the same time period, there were 2,538 closed sales. With +10.5% more homes sold so-far, it would be hard for 2008 to end with fewer sales than in 2007.<br />
<br />
Closed sales on homes for November 2008 in Saint Paul by neighborhood:<br />
<br />
Como 7 (-30.0%)<br />
Crocus Hill 5 (-66.7%)<br />
Downtown Saint Paul 12 (+9.1%)<br />
East Side 49 (+63.3%)<br />
Highland Park 13 (-38.1%)<br />
Mac-Groveland 10 (-44.4%)<br />
Merriam Park 2 (-33.3%)<br />
North End/Frogtown 25 (+25.0%)<br />
Phalen 37 (+60.9%)<br />
Southeast 3 (-66.7%)<br />
St. Anthony/Midway 14 (-6.7%)<br />
West 7th 8 (+100.0%)<br />
West Side/Cherokee 17 (+41.7%)<br />
<br />
There is still some bad news, though. The prices homes have been selling for have continued to fall. The average sales price of a home sold in November within Saint Paul was $132,824, a big change from the $207,786 of 2007. That is a decrease of -36.0%. Only the Southeast and Crocus Hill neighborhoods saw increases in real estate prices in November. The average sales price year-to-date in Saint Paul also continues to drop. Through November, the average sales price of homes sold in Saint Paul has been $172,769. During the same time period in 2007, homes were sold for an average price of $230,475, a difference of -25.0%. The percentage of St. Paul homes which sold at their original list price has fallen to 88.5%. In 2007, that number for November was 90.4%.<br />
<br />
Average prices of homes sold in Saint Paul by neighborhood during November 2008:<br />
<br />
Como $198,043 (-15.7%)<br />
Crocus Hill $321,500 (+8.1%)<br />
Downtown Saint Paul $245,546 (-16.3%)<br />
East Side $81,081 (-47.0%)<br />
Highland Park $257,317 (-6.9%)<br />
Mac-Groveland $241,050 (-21.0%)<br />
Merriam Park $144,750 (-28.8%)<br />
North End/Frogtown $77,386 (-30.4%)<br />
Phalen $90,173 (-21.9%)<br />
Southeast $209,700 (+20.2%)<br />
St. Anthony/Midway $138,549 (-32.4%)<br />
West 7th $108,038 (-42.9%)<br />
West Side/Cherokee $91,643 (-46.9%)<br />
<br />
In November of 2008, a home in St. Paul was on the market for an average of 142 days before selling. In November of 2007, homes in Saint Paul were on the market for an average of 124 days before they sold. Houses in Merriam Park, St. Anthony/Midway, and Como are selling after being on the market for less than 90 days while homes in Southeast Saint Paul are spending 305 days or more on the market.<br />
<br />
This is a brief analysis of the St. Paul real estate market based on calculations by the Minneapolis Area Association of Realtors. These statistics do not reflect all situations.<br />
<br />
Browse homes for sale by Saint Paul Neighborhood:<br />
<br />
<a href="https://www.barkerhedges.com/battle-creek-highwood/">Battle Creek & Highwood Real Estate</a>
<br /><a href="https://www.barkerhedges.com/como-park-real-estate/">Como / Como Park Real Estate</a>
<br /><a href="https://www.barkerhedges.com/downtown-saint-paul/">Downtown Saint Paul Real Estate</a>
<br /><a href="https://www.barkerhedges.com/greater-east-side-real-estate/">Greater East Side Real Estate</a>
<br /><a href="https://www.barkerhedges.com/hamline-midway-real-estate/">Hamline-Midway Real Estate</a>
<br /><a href="https://www.barkerhedges.com/highland-park-real-estate/">Highland Park Real Estate</a>
<br /><a href="https://www.barkerhedges.com/daytons-bluff-real-estate/">Dayton’s Bluff Real Estate</a>
<br /><a href="https://www.barkerhedges.com/payne-phalen-real-estate/">Payne-Phalen Real Estate</a>
<br /><a href="/%22https://www.barkerhedges.com/macalester-groveland-real-estate.cfm%22">Macalester-Groveland Real Estate
<br /></a><a href="https://www.barkerhedges.com/merriam-park-real-estate/">Merriam Park Real Estate</a>
<br /><a href="https://www.barkerhedges.com/north-end-real-estate/">North End Real Estate</a>
<br /><a href="https://www.barkerhedges.com/st-anthony-west-real-estate/">St. Anthony / Midway Real Estate</a>
<br /><a href="https://www.barkerhedges.com/summit-hill-real-estate/">Summit Hill Real Estate</a>
<br /><a href="https://www.barkerhedges.com/summit-university-real-estate/">Summit University Real Estate</a>
<br /><a href="https://www.barkerhedges.com/thomas-dale-real-estate/">Thomas-Dale Real Estate</a>
<br /><a href="https://www.barkerhedges.com/west-side-real-estate/">West Side Real Estate</a>
<br /><a href="https://www.barkerhedges.com/west-7th-real-estate/">West 7th Real Estate</a>2008-12-13T21:50:00-07:002013-07-08T10:30:44-07:00Matt Barkertag:barkerhedges.com,2012-09-20:2050Saint Paul Real Estate Market Analysis: October 2008New posted listings for homes in St. Paul, Minnesota, fell in the month of October according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. During October, there were 515 new listings in St. Paul. In October of 2007, there were 603 new listings. That is a reduction of about -14.6%. There were too many neighborhoods to list here that experienced declines of 20% to over 45%. The only neighborhoods which saw significant increases in new listings were the Phalen and Merriam Park neighborhoods of Saint Paul. (Barker & Hedges blog entry about September 2008 St. Paul Real Estate Market Activity.)<br />
<br />
Como 31 (-6.1%)<br />
Crocus Hill 40 (-35.5%)<br />
Downtown Saint Paul 21 (-46.2%)<br />
East Side 132 (+0.8%)<br />
Highland Park 25 (-26.5%)<br />
Mac-Groveland 22 (-47.6%)<br />
Merriam Park 12 (+20.0%)<br />
North End/Frogtown 56 (-29.1%)<br />
Phalen 83 (+23.9%)<br />
Southeast 12 (-42.9%)<br />
St. Anthony/Midway 30 (+7.1%)<br />
West 7th 17 (-29.2%)<br />
West Side/Cherokee 30 (-0.0%)<br />
<br />
Saint Paul’s posted new listings of homes for sale from January through October are at 6,062. That is a decline of -9.4% from last year’s 6,688 for the same time period. Merriam Park, St. Anthony / Midway, and West 7th neighborhoods continue to experience greatest declines in new listings. The Phalen and West Side / Cherokee neighborhoods were the only St. Paul neighborhoods that saw any boost in new listings for the year to date through October.<br />
<br />
Como 348 (-19.8%)<br />
Crocus Hill 450 (-19.5%)<br />
Downtown Saint Paul 352 (-20.9%)<br />
East Side 1313 (-1.5%)<br />
Highland Park 400 (-10.1%)<br />
Mac-Groveland 335 (-21.9%)<br />
Merriam Park 170 (-22.7%)<br />
North End/Frogtown 732 (-9.1%)<br />
Phalen 890 (+15.3%)<br />
Southeast 217 (-23.0%)<br />
St. Anthony/Midway 320 (-26.1%)<br />
West 7th 175 (-22.9%)<br />
West Side/Cherokee 334 (+14.0%)<br />
<br />
Time for some good news! The number of homes sold within St. Paul, Minnesota, increased significantly during October compared to last year. There were 255 homes sold throughout the month, a +33.5% increase! It is also nearly equal to the 262 homes sold during September. For the year to date, there have been 2,589 closed sales from January through October. Last year during the same time period, there were 2,346 closed sales. That means for 2008, +10.4% more homes have sold so-far than 2007. Homes in the East Side, North End / Frogtown, and Phalen neighborhoods have seen increases in home sales greater than 100%. Closed sales on homes for October 2008 in Saint Paul by neighborhood:<br />
<br />
Como 12 (-14.3%)<br />
Crocus Hill 15 (+7.1%)<br />
Downtown Saint Paul 9 (-0.0%)<br />
East Side 52 (+57.6%)<br />
Highland Park 15 (+15.4%)<br />
Mac-Groveland 12 (-36.8%)<br />
Merriam Park 11 (+10.0%)<br />
North End/Frogtown 37 (+68.2%)<br />
Phalen 43 (+168.8%)<br />
Southeast 6 (-50.0%)<br />
St. Anthony/Midway 21 (+61.5%)<br />
West 7th 6 (-33.3%)<br />
West Side/Cherokee 16 (+220.0%)<br />
<br />
Since there was good news, of course there had to be some bad news. The prices all those homes have been selling for have continued to fall. The average sales price of a home within Saint Paul was $146,892 in October 2008, a big change from the $208,786 of 2007. That is a decrease of -29.6%. Only the Mac-Groveland neighborhood saw increases in real estate prices in October. The average sales price year-to-date in Saint Paul also continues to drop. Through October, the average sales price of homes sold in Saint Paul has been $175,932. During the same time period in 2007, homes were sold for an average price of $232,261, a difference of -24.3%. The percentage of St. Paul homes which sold at their original list price has fallen to 89.9%. In 2007, that number for October was 92.1%.<br />
<br />
Average prices of homes sold in Saint Paul by neighborhood during October 2008:<br />
<br />
Como $169,738 (-14.6%)<br />
Crocus Hill $325,059 (-12.3%)<br />
Downtown Saint Paul $204,776 (-12.9%)<br />
East Side $92,237 (-40.0%)<br />
Highland Park $306,370 (-1.1%)<br />
Mac-Groveland $303,033 (+23.0%)<br />
Merriam Park $225,051 (-22.2%)<br />
North End/Frogtown $60,280 (-49.0%)<br />
Phalen $99,337 (-30.0%)<br />
Southeast $118,967 (-36.4%)<br />
St. Anthony/Midway $139,002 (-40.6%)<br />
West 7th $64,875 (-64.3%)<br />
West Side/Cherokee $113,470 (-26.7%)<br />
<br />
In October of 2008, a home in St. Paul was on the market for an average of 132 days before selling. In October of 2007, homes in Saint Paul were on the market for an average of 135 days before they sold. Houses in Merriam Park and St. Anthony/Miday are selling after being on the market for just 90 days while homes in some neighborhoods are spending 160 days or more on the market.<br />
<br />
This is a brief analysis of the St. Paul real estate market based on calculations by the Minneapolis Area Association of Realtors. These statistics do not reflect all situations.<br />
<br />
Browse homes for sale by Saint Paul Neighborhood:<br />
<br /><a href="https://www.barkerhedges.com/battle-creek-highwood/">Battle Creek & Highwood Real Estate</a>
<br /><a href="https://www.barkerhedges.com/como-park-real-estate/">Como / Como Park Real Estate</a>
<br /><a href="https://www.barkerhedges.com/downtown-saint-paul/">Downtown Saint Paul Real Estate</a>
<br /><a href="https://www.barkerhedges.com/greater-east-side-real-estate/">Greater East Side Real Estate</a>
<br /><a href="https://www.barkerhedges.com/hamline-midway-real-estate/">Hamline-Midway Real Estate</a>
<br /><a href="https://www.barkerhedges.com/highland-park-real-estate/">Highland Park Real Estate</a>
<br /><a href="https://www.barkerhedges.com/daytons-bluff-real-estate/">Dayton’s Bluff Real Estate</a>
<br /><a href="https://www.barkerhedges.com/payne-phalen-real-estate/">Payne-Phalen Real Estate</a>
<br /><a href="https://www.barkerhedges.com/macalester-groveland-real-estate/">Macalester-Groveland Real Estate</a>
<br /><a href="https://www.barkerhedges.com/merriam-park-real-estate/">Merriam Park Real Estate</a>
<br /><a href="https://www.barkerhedges.com/north-end-real-estate/">North End Real Estate</a>
<br /><a href="https://www.barkerhedges.com/st-anthony-west-real-estate/">St. Anthony / Midway Real Estate</a>
<br /><a href="https://www.barkerhedges.com/summit-hill-real-estate/">Summit Hill Real Estate</a>
<br /><a href="https://www.barkerhedges.com/summit-university-real-estate/">Summit University Real Estate</a>
<br /><a href="https://www.barkerhedges.com/thomas-dale-real-estate/">Thomas-Dale Real Estate</a>
<br /><a href="https://www.barkerhedges.com/west-side-real-estate/">West Side Real Estate</a>
<br /><a href="https://www.barkerhedges.com/west-7th-real-estate/">West 7th Real Estate</a>2008-11-12T09:51:00-07:002013-07-09T08:59:29-07:00Matt Barkertag:barkerhedges.com,2012-09-20:2030Saint Paul Real Estate Market Analysis: September 2008In a change to what we have seen in previous months, new listings for homes in Saint Paul, Minnesota, rose during September according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. Throughout the month, there were 621 new listings in St. Paul. During September of 2007, there were 602 new listings. That adds up to an increase of about +3.2%! It may be small, but it is something. The Phalen and Highland Park neighborhoods of Saint Paul saw the greatest boost in new listings during September at +44.3% and +32.4% respectively. Conversely, the West 7th and Merriam Park neighborhoods saw decreases in new listings during September of -45.0% and -50.0% respectively. (Barker & Hedges blog entry about August 2008 St. Paul Real Estate Market Activity.)<br />
<br />
Como 31 (-24.4%)<br />
Crocus Hill 42 (-26.3%)<br />
Downtown Saint Paul 25 (-19.4%)<br />
East Side 139 (+23.0%)<br />
Highland Park 49 (+32.4%)<br />
Mac-Groveland 34 (-10.5%)<br />
Merriam Park 14 (-50.0%)<br />
North End / Frogtown 82 (+18.8%)<br />
Phalen 101 (+44.3%)<br />
Southeast 15 (+7.1%)<br />
St. Anthony / Midway 35 (-31.4%)<br />
West 7th 11 (-45.0%)<br />
West Side / Cherokee 42 (+27.3%)<br />
<br />
Saint Paul’s posted new listings for the year to date were at 5,543 from January through September. That is a decrease of -8.9%. This September’s increase in new listings helped raise that from August’s -10.2%. If October follows in suit for new listings in St. Paul, the city might be on par with its real estate listings for last year. Merriam Park and St. Anthony / Midway have seen the greatest decreases in new listings. The Phalen and West Side / Cherokee neighborhoods have seen increases in new listings for the year to date.<br />
<br />
Como 321 (-19.8%)<br />
Crocus Hill 414 (-16.5%)<br />
Downtown Saint Paul 325 (-20.5%)<br />
East Side 1185 (-1.2%)<br />
Highland Park 376 (-8.3%)<br />
Mac-Groveland 312 (-19.4%)<br />
Merriam Park 157 (-25.9%)<br />
North End / Frogtown 678 (-5.7%)<br />
Phalen 803 (+13.4%)<br />
Southeast 204 (-19.7%)<br />
St. Anthony / Midway 288 (-30.1%)<br />
West 7th 157 (-22.7%)<br />
West Side / Cherokee 304 (+16.0%)<br />
<br />
There was quite a HUGE increase in the amount of closed sales on homes in Saint Paul, Minnesota, during September compared to last year. There were 262 homes sold during the month, a +45.6% increase over last year’s 180. Last month also saw a modest increase at 2.0% more closed sales this year during August than the same month in 2007. For the year to date, there have been 2,100 close sales from January through September. Last year by this time, there were 2,043 closed sales, bringing us to a total of +2.8% more home sales than the same time period of last year! Homes in the East Side, North End / Frogtown, and Phalen neighborhoods have seen increases in sales higher than 100% compared to last year. Closed sales on homes for September 2008 in Saint Paul by neighborhood:<br />
<br />
Como 16 (-20.0%)<br />
Crocus Hill 10 (-16.7%)<br />
Downtown Saint Paul 11 (-0.0%)<br />
East Side 71 (+115.2%)<br />
Highland Park 25 (+78.6%)<br />
Mac-Groveland 16 (+23.1%)<br />
Merriam Park 5 (-37.5%)<br />
North End / Frogtown 33 (+120.0%)<br />
Phalen 34 (+161.5%)<br />
Southeast 10 (-28.6%)<br />
St. Anthony / Midway 10 (-37.5%)<br />
West 7th 8 (+33.3%)<br />
West Side / Cherokee 11 (+83.3%)<br />
<br />
One aspect of St. Paul real estate which has not increased compared to 2007 figures is the sales prices of homes, which continue to fall. The average sales price of a home within Saint Paul was $161,251 in September 2008, well distinguished from the $216,127 homes were selling for in 2007. That is a decrease of -25.4%. The neighborhoods of Downtown Saint Paul, Mac-Groveland, and West 7th saw increases in their real estate prices. The average sales price year-to-date in St. Paul also continues to drop. So far this year, the average sales price of a home sold in Saint Paul has been $179,650. During the same time period in 2007, the average sales price of a home was $234,305, a difference of -22.2%. The percentage of St. Paul homes which sold at their original list price has fallen to 91.3%. In 2007, the percentage homes sold in September purchased for their original listing price wasn’t much higher at 92.6%.<br />
<br />
Average prices of homes sold in Saint Paul by neighborhood during September 2008:<br />
<br />
Como $201,134 (-13.9%)<br />
Crocus Hill $308,460 (-9.1%)<br />
Downtown Saint Paul $226,231 (+15.6%)<br />
East Side $104,829 (-33.4%)<br />
Highland Park $298,950 (-24.3%)<br />
Mac-Groveland $319,726 (+15.2%)<br />
Merriam Park $251,500 (-10.7%)<br />
North End / Frogtown $73,672 (-40.7%)<br />
Phalen $98,119 (-29.0%)<br />
Southeast $168,426 (-14.6%)<br />
St. Anthony / Midway $159,860 (-21.2%)<br />
West 7th $145,700 (+3.5%)<br />
West Side / Cherokee $87,530 (-53.3%)<br />
<br />
It is common for homes on the market in St. Paul to be up for sale longer before selling than in 2007. In September of 2008, a home in Saint Paul was on the market for an average of 135 days before it finally sold. In September of 2007, homes in Saint Paul were on the market for an average of 122 days before selling. Homes sold in Highland Park, Merriam Park, and West 7th are selling after just 2 to 3 months on the market while in some neighborhoods, real estate is on the market for 6 months or more.<br />
<br />
This is a brief analysis of the St. Paul real estate market based on calculations by the Minneapolis Area Association of Realtors. These statistics do not reflect all situations.<br />
<br />
Browse homes for sale by Saint Paul Neighborhood:<br />
<br /><a href="https://www.barkerhedges.com/battle-creek-highwood/">Battle Creek & Highwood Real Estate</a>
<br /><a href="https://www.barkerhedges.com/como-park-real-estate/">Como / Como Park Real Estate</a>
<br /><a href="https://www.barkerhedges.com/downtown-saint-paul/">Downtown Saint Paul Real Estate</a>
<br /><a href="https://www.barkerhedges.com/greater-east-side-real-estate/">Greater East Side Real Estate</a>
<br /><a href="https://www.barkerhedges.com/hamline-midway-real-estate/">Hamline-Midway Real Estate</a>
<br /><a href="https://www.barkerhedges.com/highland-park-real-estate/">Highland Park Real Estate</a>
<br /><a href="https://www.barkerhedges.com/daytons-bluff-real-estate/">Dayton’s Bluff Real Estate</a>
<br /><a href="https://www.barkerhedges.com/payne-phalen-real-estate/">Payne-Phalen Real Estate</a>
<br /><a href="https://www.barkerhedges.com/macalester-groveland-real-estate/">Macalester-Groveland Real Estate</a>
<br /><a href="https://www.barkerhedges.com/merriam-park-real-estate/">Merriam Park Real Estate</a>
<br /><a href="https://www.barkerhedges.com/north-end-real-estate/">North End Real Estate</a>
<br /><a href="https://www.barkerhedges.com/st-anthony-west-real-estate/">St. Anthony / Midway Real Estate</a>
<br /><a href="https://www.barkerhedges.com/summit-hill-real-estate/">Summit Hill Real Estate</a>
<br /><a href="https://www.barkerhedges.com/summit-university-real-estate/">Summit University Real Estate</a>
<br /><a href="https://www.barkerhedges.com/thomas-dale-real-estate/">Thomas-Dale Real Estate</a>
<br /><a href="https://www.barkerhedges.com/west-side-real-estate/">West Side Real Estate</a>
<br /><a href="https://www.barkerhedges.com/west-7th-real-estate/">West 7th Real Estate</a>2008-10-13T17:03:00-07:002013-07-01T12:58:42-07:00Matt Barkertag:barkerhedges.com,2012-09-20:2012Saint Paul Real Estate Market Analysis: August 2008As we have seen in months previous, new listings for homes fell in Saint Paul, Minnesota, once again during August, according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. During the month of August this year, there were 553 new listings in St. Paul. Throughout August of last year, there were 641 new listings, a decrease of about -13.7%. This is similar to July's drop in new listings of -13.6%. The Como / Como Park neighborhood of Saint Paul encountered the greatest reduction in new listings during August at -32.5%. The only neighborhood to have an increase in new listings in August compared to last year was Merriam Park, where listings rose 6.7%. (To see a Barker & Hedges blog entry about July 2008 St. Paul Market Activity, please click here.)<br />
<br />
Como 27 (-32.5%)<br />
Crocus Hill 41 (-0.0%)<br />
Downtown Saint Paul 29 (-21.6%)<br />
East Side 113 (-15.0%)<br />
Highland Park 42 (-4.5%)<br />
Mac-Groveland 31 (-16.2%)<br />
Merriam Park 16 (+6.7%)<br />
North End / Frogtown 71 (-17.4%)<br />
Phalen 82 (-3.5%)<br />
Southeast 28 (-17.6%)<br />
St. Anthony / Midway 29 (-31.0%)<br />
West 7th 16 (-15.8%)<br />
West Side / Cherokee 26 (-7.1%)<br />
<br />
Switching topics to Saint Paul’s posted new listing for January through August, there were 4,922 new listings within the city. That is a decrease of -10.2% compared to the 5,482 new listings recorded within the same period of time in 2007. The greatest new listing variations occurred in the St. Anthony / Midway neighborhoods, where new listings have dropped by nearly 30% for the past two months in a row, whereas the West Side / Cherokee neighborhoods’ new listings of homes for sale have increased 14.4% in comparison to last year.<br />
<br />
Como 290 (-19.2%)<br />
Crocus Hill 372 (-15.3%)<br />
Downtown Saint Paul 300 (-20.6%)<br />
East Side 1046 (-3.7%)<br />
Highland Park 327 (-12.3%)<br />
Mac-Groveland 278 (-20.3%)<br />
Merriam Park 143 (-22.3%)<br />
North End / Frogtown 596 (-8.3%)<br />
Phalen 702 (+10.0%)<br />
Southeast 189 (-21.3%)<br />
St. Anthony / Midway 253 (-29.9%)<br />
West 7th 146 (-20.2%)<br />
West Side / Cherokee 262 (+14.4%)<br />
<br />
Fewer new listings did not negatively affect the amount of closed sales on homes which occurred in Saint Paul, Minnesota. At 301, there were 2.0% more closed sales this year during August than the 295 during the same month of 2007. For the year to date, there have been 1,838 close sales from January through August. Last year by this time, there were 1,863 closed sales, bringing us within -1.3% of last year’s sales figures for the 2008 year to date! The West Side / Cherokee, Southeat, East Side and North End / Frogtown neighborhoods have seen particularly large increases in sales compared to last year. Closed sales on homes for August 2008 in Saint Paul by neighborhood:<br />
<br />
Como 20 (-13.0%)<br />
Crocus Hill 20 (-47.4%)<br />
Downtown Saint Paul 11 (-26.7%)<br />
East Side 60 (+50.0%)<br />
Highland Park 24 (-35.1%)<br />
Mac-Groveland 26 (-13.3%)<br />
Merriam Park 7 (-46.2%)<br />
North End / Frogtown 37 (+85.0%)<br />
Phalen 29 (+31.8%)<br />
Southeast 17 (+54.5%)<br />
St. Anthony / Midway 19 (-36.7%)<br />
West 7th 11 (+22.2%)<br />
West Side / Cherokee 17 (+142.9%)<br />
<br />
One real estate factor which is drastically compared to last year is the sales prices of homes in Saint Paul, which are continuing to decrease. The average sales price of a home within Saint Paul was $187,181 in August 2008 in sharp contrast to the $248,588 the sale of a home brought in 2007. That is a decrease of -24.7%. This month, all neighborhoods seemed to experience the downward trend in home sales prices. The average sales price year-to-date in St. Paul is not much different at $184,373. During the same time period in 2007, the average sales price of a home was $236,940, a reduction of -22.2%. The percentage of St. Paul homes which sold at their original list price has fallen to 92.6%. In 2007, 94.5% of the homes sold in August were purchased for their original listing price.<br />
<br />
Average prices of homes sold in Saint Paul by neighborhood during July 2008:<br />
<br />
Como $245,880 (+22.6%)<br />
Crocus Hill $252,291 (-38.9%)<br />
Downtown Saint Paul $166,000 (-3.6%)<br />
East Side $111,542 (-27.1%)<br />
Highland Park $310,467 (-10.4%)<br />
Mac-Groveland $374,242 (+24.1%)<br />
Merriam Park $272,286 (-16.6%)<br />
North End / Frogtown $86,880 (-37.4%)<br />
Phalen $108,514 (-30.4%)<br />
Southeast $204,555 (+2.4%)<br />
St. Anthony / Midway $195,166 (-13.3%)<br />
West 7th $168,245 (-8.6%)<br />
West Side / Cherokee $130,113 (-27.8%)<br />
<br />
Homes for sale in St. Paul tend to be on the market longer before selling than they did in 2007. In August of 2008, a home in Saint Paul was on the market for an average of 133 days at the time of sale. In August of 2007, homes were on the market in Saint Paul for an average of 111 days before selling. The amount of time a home spends on the market varies from neighborhood to neighborhood, of course. Homes sold in Highland Park, homes have gone from spending 58 days on the market last year to 137 days this year. Merriam Park and West 7th neighborhoods, homes are selling after an average of just over 2 months on the market.<br />
<br />
Como 124 (+30.5%)<br />
Crocus Hill 107 (+3.8%)<br />
Downtown Saint Paul 150 (+2.5%)<br />
East Side 152 (-5.1%)<br />
Highland Park 137 (+138.3%)<br />
Mac-Groveland 90 (-12.4%)<br />
Merriam Park 62 (-31.6%)<br />
North End / Frogtown 167 (+38.2%)<br />
Phalen 119 (-32.4%)<br />
Southeast 155 (+47.7%)<br />
St. Anthony / Midway 171 (+93.0%)<br />
West 7th 65 (-24.0%)<br />
West Side / Cherokee 116 (-2.9%)<br />
<br />
This is a brief analysis of the St. Paul real estate market based on calculations by the Minneapolis Area Association of Realtors. These statistics do not reflect all situations.<br />
<br />
Browse homes for sale by Saint Paul Neighborhood:<br />
<br />
<a href="https://www.barkerhedges.com/battle-creek-highwood/">Battle Creek & Highwood Real Estate</a><br />
<a href="https://www.barkerhedges.com/como-park-real-estate/">Como/Como Park Real Estate</a><br />
<a href="https://www.barkerhedges.com/downtown-saint-paul/">Downtown Real Estate</a><br />
<a href="https://www.barkerhedges.com/greater-east-side-real-estate/">Greater East Side Real Estate</a><br />
<a href="https://www.barkerhedges.com/hamline-midway-real-estate/">Hamline-Midway Real Estate</a><br />
<a href="https://www.barkerhedges.com/highland-park-real-estate/">Highland Park Real Estate</a><br />
<a href="https://www.barkerhedges.com/daytons-bluff-real-estate/">Dayton’s Bluff Real Estate</a><br />
<a href="https://www.barkerhedges.com/payne-phalen-real-estate/">Payne-Phalen Real Estate</a><br />
<a href="https://www.barkerhedges.com/macalester-groveland-real-estate/">Macalester-Groveland Real Estate</a><br />
<a href="https://www.barkerhedges.com/merriam-park-real-estate/">Merriam Park Real Estate</a><br />
<a href="https://www.barkerhedges.com/north-end-real-estate/">North End Real Estate</a><br />
<a href="https://www.barkerhedges.com/st-anthony-west-real-estate/">St. Anthony/Midway Real Estate</a><br />
<a href="https://www.barkerhedges.com/summit-hill-real-estate/">Summit Hill Real Estate</a><br />
<a href="https://www.barkerhedges.com/summit-university-real-estate/">Summit University Real Estate</a><br />
<a href="https://www.barkerhedges.com/thomas-dale-real-estate/">Thomas-Dale Real Estate</a><br />
<a href="https://www.barkerhedges.com/west-side-real-estate/">West Side Real Estate</a><br />
<a href="https://www.barkerhedges.com/west-7th-real-estate/">West 7th Real Estate</a>2008-09-14T12:54:00-07:002013-07-07T07:34:13-07:00Matt Barkertag:barkerhedges.com,2012-09-20:2002Saint Paul Real Estate Market Analysis: July 2008For the yet another month, new Saint Paul, Minnesota, listings for homes decreased during the month of July, according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. Throughout July of 2008, there were 599 new listings within the City of Saint Paul. In July of 2007, there were 692 new listings, which is a drop of about -13.4%. This is worse than June 2008’s drop of -8.9%. The Mac-Groveland neighborhood of St. Paul experienced the greatest decline in new listings this month at -56.9%. The West Side/Cherokee neighborhoods experienced the greatest increase in new listings over last year at 41, a very significant 86.4% more listings when compared to July 2007. Here is a list of July 2008 new listings in Saint Paul by neighborhood and the percentage of change that has occurred compared to July 2007. (To see a Barker & Hedges blog entry about June 2008 St. Paul Market Activity, please click here.)<br />
<br />
Como 33 (-21.4%)<br />
Crocus Hill 37 (-19.6%)<br />
Downtown Saint Paul 30 (-23.1%)<br />
East Side 125 (-16.7%)<br />
Highland Park 38 (-28.3%)<br />
Mac-Groveland 22 (-56.9%)<br />
Merriam Park 19 (-0.0%)<br />
North End/Frogtown 75 (-12.8%)<br />
Phalen 95 (+6.7%)<br />
Southeast 32 (-25.6%)<br />
St. Anthony/Midway 29 (-0.0%)<br />
West 7th 20 (-9.1%)<br />
West Side/Cherokee 41 (+86.4%)<br />
<br />
As we view the city’s posted new listing for the 2008 year-to-date, from January through July, there were 4,369 new listings in St. Paul, compared to 4,841 during the same months of 2007. That equates to 9.8% fewer new listings so far this year. The most extreme changes have happened in the St. Anthony/Midway neighborhoods, where new listings have decreased by 29.8% while the Phalen neighborhood’s new listings continue to increase with 12.1% more homes for sale than last year. Here is a list of new listings in Saint Paul for the 2008 year to date compared to 2007:<br />
<br />
Como 263 (-17.6%)<br />
Crocus Hill 331 (-16.8%)<br />
Downtown Saint Paul 271 (-20.5%)<br />
East Side 933 (-2.1%)<br />
Highland Park 285 (-13.4%)<br />
Mac-Groveland 247 (-20.8%)<br />
Merriam Park 127 (-24.9%)<br />
North End/Frogtown 525 (-6.9%)<br />
Phalen 620 (+12.1%)<br />
Southeast 161 (-21.8%)<br />
St. Anthony/Midway 224 (-29.8%)<br />
West 7th 130 (-20.7%)<br />
West Side/Cherokee 236 (+17.4%)<br />
<br />
For yet another month, fewer new listings have not meant fewer closed sales on homes in St. Paul, Minnesota. At 300, there were 5.3% more closed sales this year in July than the same month of 2007’s 285. This has helped the 2008 year overall closed sales, which has inched up from 3.6% below last years figure to exactly 2.0% under. 1,537 home sales were closed in St. Paul from January through July of 2008 compared to 1,568 during the same time period last year. A little bit more and we’ll be on par with last year’s stats!<br />
<br />
Home sales prices in Saint Paul continue to fall. The average price of a home sold within the City of St. Paul was $180,871 in July 2008 compared to $248,104 in 2007. That is a decrease of a noteworthy 27.1%. The exceptions to the downward trend were the Downtown and Highland Park neighborhoods, which saw increases over last year’s home sales prices of 10.6% and 1.5% respectively. The average sales price year-to-date in the City of Saint Paul is no better at $183,823. During the same time period in 2007, the average sales price of a home was $234,749, a decrease of 21.7%. The percentage of St. Paul homes which sold at their original list price has decreased to 91.3%. In 2007, 93.7% of the homes sold in July were purchased for their original listing price.<br />
<br />
Average prices of homes sold in Saint Paul by neighborhood during July 2008:<br />
<br />
Como $214,487 (-3.4%)<br />
Crocus Hill $245,156 (-41.3%)<br />
Downtown Saint Paul $204,979 (+10.6%)<br />
East Side $107,984 (-30.6%)<br />
Highland Park $303,873 (+1.5%)<br />
Mac-Groveland $264,494 (-25.3%)<br />
Merriam Park $252,947 (-14.3%)<br />
North End/Frogtown $82,439 (-36.3%)<br />
Phalen $102,421 (-36.8%)<br />
Southeast $171,640 (-7.2%)<br />
St. Anthony/Midway $180,384 (-28.8%)<br />
West 7th $154,067 (-14.1%)<br />
West Side/Cherokee $149,210 (-26.3%)<br />
<br />
As we saw last months, homes for sale in Saint Paul are staying on the market longer than they did in 2007. In July of 2008, a home in St. Paul was up for sale an average of 133 days before it sold. In July of 2007, homes for sale in Saint Paul were on the market for an average of 116 days before selling. Of course, the amount of time a home spends on the market varies from neighborhood to neighborhood. Homes sold in the Mac-Groveland and Como neighborhoods of Saint Paul in July on the market 98 days before selling. That might seem quick at first glance, but they were selling in 81 and 92 days in July of 2007. It’s taking about 5 months for homes to sell in most neighborhoods. In Southeast St. Paul, it’s taking 195 days for a home to sell. That’s much better than last month’s 244 days for that neighborhood! Year to date, homes are taking an average of 141 days to sell, compared to 2007’s 123 days. Here is the average number of days a home is on the market at the time of sale by St. Paul neighborhood for July of 2008.<br />
<br />
Como 98 (+6.9%)<br />
Crocus Hill 170 (+77.7%)<br />
Downtown Saint Paul 164 (+1.1%)<br />
East Side 160 (+12.6%)<br />
Highland Park 102 (-14.9%)<br />
Mac-Groveland 98 (+20.1%)<br />
Merriam Park 132 (+26.1%)<br />
North End/Frogtown 138 (+20.0%)<br />
Phalen 130 (+5.9%)<br />
Southeast 195 (+40.6%)<br />
St. Anthony/Midway 111 (+31.8%)<br />
West 7th 128 (-30.1%)<br />
West Side/Cherokee 154 (+3.8%)<br />
<br />
This is a brief analysis of the St. Paul real estate market based on calculations by the Minneapolis Area Association of Realtors. These statistics do not reflect all situations.<br />
<br />
Browse homes for sale by Saint Paul Neighborhood:<br />
<br />
<a href="https://www.barkerhedges.com/battle-creek-highwood/">Battle Creek & Highwood Real Estate</a><br />
<a href="https://www.barkerhedges.com/como-park-real-estate/">Como/Como Park Real Estate</a><br />
<a href="https://www.barkerhedges.com/downtown-saint-paul/">Downtown Real Estate</a><br />
<a href="https://www.barkerhedges.com/greater-east-side-real-estate/">Greater East Side Real Estate</a><br />
<a href="https://www.barkerhedges.com/hamline-midway-real-estate/">Hamline-Midway Real Estate</a><br />
<a href="https://www.barkerhedges.com/highland-park-real-estate/">Highland Park Real Estate</a><br />
<a href="https://www.barkerhedges.com/daytons-bluff-real-estate/">Dayton’s Bluff Real Estate</a><br />
<a href="https://www.barkerhedges.com/payne-phalen-real-estate/">Payne-Phalen Real Estate</a><br />
<a href="https://www.barkerhedges.com/macalester-groveland-real-estate/">Macalester-Groveland Real Estate</a><br />
<a href="https://www.barkerhedges.com/merriam-park-real-estate/">Merriam Park Real Estate</a><br />
<a href="https://www.barkerhedges.com/north-end-real-estate/">North End Real Estate</a><br />
<a href="https://www.barkerhedges.com/st-anthony-west-real-estate/">St. Anthony/Midway Real Estate</a><br />
<a href="https://www.barkerhedges.com/summit-hill-real-estate/">Summit Hill Real Estate</a><br />
<a href="https://www.barkerhedges.com/summit-university-real-estate/">Summit University Real Estate</a><br />
<a href="https://www.barkerhedges.com/thomas-dale-real-estate/">Thomas-Dale Real Estate</a><br />
<a href="https://www.barkerhedges.com/west-side-real-estate/">West Side Real Estate</a><br />
<a href="https://www.barkerhedges.com/west-7th-real-estate/">West 7th</a>2008-08-14T16:25:00-07:002013-07-09T08:59:21-07:00Matt Barkertag:barkerhedges.com,2012-09-20:1984Saint Paul Real Estate Market Analysis: June 2008New listings for homes fell in Saint Paul, Minnesota, during the month of June, according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. During June of 2008, there were 632 new listings in the City of Saint Paul. In June of 2007, there were 694 new listings, which is a drop of about 8.9%, much better than May 2008’s drop of 23.8%. St. Paul’s Downtown again has experienced the greatest decline in new listings at -51.2%. The Phalen neighborhood experienced the greatest increase in new listings over last year at 111, 18.1% more than June 2007. Here is a list of June 2008 new listings in Saint Paul by neighborhood and the percentage of change that has occurred compared to June 2007. (To see a Barker & Hedges blog entry about May 2008 St. Paul Market Activity, please click here.)<br />
<br />
Como 35 (-32.7%)<br />
Crocus Hill 41 (-24.1%)<br />
Downtown Saint Paul 21 (-51.2%)<br />
East Side 130 (-1.5%)<br />
Highland Park 31 (-36.7%)<br />
Mac-Groveland 46 (+7.0%)<br />
Merriam Park 20 (-16.7%)<br />
North End/Frogtown 81 (+14.1%)<br />
Phalen 111 (+18.1%)<br />
Southeast 19 (-5.0%)<br />
St. Anthony/Midway 31 (-40.4%)<br />
West 7th 24 (+4.3%)<br />
West Side/Cherokee 38 (+11.8%)<br />
<br />
When you look at Saint Paul’s posted new listing for the 2008 year-to-date, from January through June, there were 3,770 new listings in the city, compared to 4,149 during the same time period of 2007. That means there were 9.1% fewer new listings so far this year. The most dramatic changes have happened in the Merriam Park neighborhood, where new listings have decreased by 28.0% while the Phalen neighborhood’s new listings continue to increase with 11.9% more houses for sale than last year. Here is a list of new listings in Saint Paul for the 2008 year to date compared to 2007:<br />
<br />
Como 230 (-17.0%)<br />
Crocus Hill 294 (-16.5%)<br />
Downtown Saint Paul 241 (-20.2%)<br />
East Side 808 (+0.6%)<br />
Highland Park 247 (-10.5%)<br />
Mac-Groveland 225 (-13.8%)<br />
Merriam Park 108 (-28.0%)<br />
North End/Frogtown 450 (-5.9%)<br />
Phalen 525 (+13.1%)<br />
Southeast 129 (-20.9%)<br />
St. Anthony/Midway 195 (-32.8%)<br />
West 7th 110 (-22.5%)<br />
West Side/Cherokee 195 (+8.9%)<br />
<br />
In this case, reduced listings has certainly not meant fewer closed sales on homes in St. Paul, Minnesota. At 297, there were over 6.5% more closed sales than June of 2007’s 279. This has helped the 2008 year overall closed sales, which has crept up from 6.4% below last years figure to just 3.6% under. 1,237 home sales were closed in St. Paul from January through June of 2008 compared to 1,283 during the same time period last year. A little more and we’ll be even with last year!<br />
<br />
As for home sales prices in Saint Paul, the downward trend is has unfortunately continued. The average sales price of a home in the City of St. Paul was $185,868 in June 2008 compared to $265,234 in 2007. That is a decrease of a whopping 29.9%! The only exception for this was the West Side/Cherokee neighborhood, which saw its sales price for a home increase 4.0% to $178,317 over last year. The average sales price year-to-date in the City of St. Paul is no better at $184,538. During the same time period in 2007, the average sales price of a home was $231,782, a decrease of 20.4%. The percentage of St. Paul homes which sold at their original list price has increased to 90.1%, an increase of over one full percentage point from last month. But in 2007, 95.5% of the homes sold in June were purchased for their original listing price.<br />
<br />
Average prices of homes sold in Saint Paul by neighborhood during June 2008:<br />
<br />
Crocus Hill $369,236 (-24.2%)<br />
Downtown Saint Paul $180,866 (-2.2%)<br />
East Side $109,586 (-30.9%)<br />
Highland Park $281,743 (-13.5%)<br />
Mac-Groveland $296,207 (-23.8%)<br />
Merriam Park $269,042 (-15.8%)<br />
North End/Frogtown $89,326 (-41.4%)<br />
Phalen $124,614 (-24.4%)<br />
Southeast $146,775 (-28.2%)<br />
St. Anthony/Midway $176,182 (-16.3%)<br />
West 7th $141,436 (-16.3%)<br />
West Side/Cherokee $178,317 (+4.0%)<br />
<br />
Homes for sale in Saint Paul are staying on the market longer than they did in 2007. In June of 2008, a home in St. Paul was on the market for an average of 134 days before it was sold. In June of 2007, homes for sale in Saint Paul were on the market for an average of 112 days before selling. The amount of time a home spends on the market varies from neighborhood to neighborhood as well. Homes in the Como Saint Paul area on the market in June were selling after just 60 days on the market, compared to 2007’s 89. It’s taking about 5 months in most neighborhoods. In Southeast St. Paul, it’s taking 244 days for a home to sell! That’s over 8 months! Year to date, homes are taking an average of 144 days to sell, compared to 2007’s 125 days. Here is the average number of days a home is on the market at the time of sale by St. Paul neighborhood for June of 2008.<br />
<br />
Como 60 (-33.1%)<br />
Crocus Hill 141 (-11.3%)<br />
Downtown Saint Paul 133 (+9.8%)<br />
East Side 139 (-0.3%)<br />
Highland Park 106 (+14.9%)<br />
Mac-Groveland 110 (+74.7%)<br />
Merriam Park 125 (+13.2%)<br />
North End/Frogtown 147 (+20.7%)<br />
Phalen 169 (+61.6%)<br />
Southeast 244 (+111.1%)<br />
St. Anthony/Midway 177 (+79.1%)<br />
West 7th 117 (-17.1%)<br />
West Side/Cherokee 106 (-43.8%)<br />
<br />
This is a brief analysis of the St. Paul real estate market based on calculations by the Minneapolis Area Association of Realtors. These statistics do not reflect all situations. Though much of this information may seem like a downer, much of it a necessary market correction which has been happening for a while. It will take time for the real estate market to stabilize.<br />
<br />
Browse homes for sale by Saint Paul Neighborhood:<br />
<br />
<a href="https://www.barkerhedges.com/battle-creek-highwood/">Battle Creek & Highwood Real Estate</a><br />
<a href="https://www.barkerhedges.com/como-park-real-estate/">Como/Como Park Real Estate</a><br />
<a href="https://www.barkerhedges.com/downtown-saint-paul/">Downtown Real Estate</a><br />
<a href="https://www.barkerhedges.com/greater-east-side-real-estate/">Greater East Side Real Estate</a><br />
<a href="https://www.barkerhedges.com/hamline-midway-real-estate/">Hamline-Midway Real Estate</a><br />
<a href="https://www.barkerhedges.com/highland-park-real-estate/">Highland Park Real Estate</a><br />
<a href="https://www.barkerhedges.com/daytons-bluff-real-estate/">Dayton’s Bluff Real Estate</a><br />
<a href="https://www.barkerhedges.com/payne-phalen-real-estate/">Payne-Phalen Real Estate</a><br />
<a href="https://www.barkerhedges.com/macalester-groveland-real-estate/">Macalester-Groveland Real Estate</a><br />
<a href="https://www.barkerhedges.com/merriam-park-real-estate/">Merriam Park Real Estate</a><br />
<a href="https://www.barkerhedges.com/north-end-real-estate/">North End Real Estate</a><br />
<a href="https://www.barkerhedges.com/st-anthony-west-real-estate/">St. Anthony/Midway Real Estate</a><br />
<a href="https://www.barkerhedges.com/summit-hill-real-estate/">Summit Hill Real Estate</a><br />
<a href="https://www.barkerhedges.com/summit-university-real-estate/">Summit University Real Estate</a><br />
<a href="https://www.barkerhedges.com/thomas-dale-real-estate/">Thomas-Dale Real Estate</a><br />
<a href="https://www.barkerhedges.com/west-side-real-estate/">West Side Real Estate</a><br />
<a href="https://www.barkerhedges.com/west-7th-real-estate/">West 7th Real Estate</a>2008-07-18T09:32:00-07:002013-07-09T08:59:26-07:00Matt Barkertag:barkerhedges.com,2012-09-20:1962Saint Paul Market Analysis: May 2008Similar to the experience of Minneapolis but more dramatic, new listings for homes fell in Saint Paul, Minnesota, during the month of May, according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. During May of 2008, there were 623 new listings in the City of Saint Paul. In May of 2007, there were 818 new listings, which is a drop of about 23.8%. St. Paul’s Downtown experienced the greatest decline in new listings at -56.3%. The West Side/Cherokee neighborhood was the only location in St. Paul to experience an increase in new listings over last year. Here is a list of May 2008 new listings in Saint Paul by neighborhood and the percentage of change that has occurred compared to May 2007. (To see a Barker & Hedges article about April 2008 St. Paul Market Activity, please click here.)<br />
<br />
Como 41 (-26.8%)<br />
Crocus Hill 50 (-33.3%)<br />
Downtown Saint Paul 21 (-56.3%)<br />
East Side 143 (-14.4%)<br />
Highland Park 55 (-3.5%)<br />
Mac-Groveland 34 (-41.4%)<br />
Merriam Park 20 (-23.1%)<br />
North End/Frogtown 65 (-27.8%)<br />
Phalen 83 (-0.0%)<br />
Southeast 26 (-33.3%)<br />
St. Anthony/Midway 26 (-46.9%)<br />
West 7th 17 (-51.4%)<br />
West Side/Cherokee 39 (+14.7%)<br />
<br />
When you look at Saint Paul’s posted new listing for the 2008 year-to-date, there has been less drastic of a decrease by over half. From January through May, there were 3,138 new listings in the city, compared to 3,455 during the same time period of 2007. That means there are just 9.2% fewer new listings so far this year. The most dramatic changes have happened in the Saint Anthonty/Midway neighborhoods, where new listings have decreased by 31.1% while the Phalen neighborhood’s new listings increased by 11.9%. Here is a list of new listings in Saint Paul for the 2008 year to date compared to 2007:<br />
<br />
Como 195 (-13.3%)<br />
Crocus Hill 253 (-15.1%)<br />
Downtown Saint Paul 220 (-15.1%)<br />
East Side 678 (+1.0%)<br />
Highland Park 216 (-4.8%)<br />
Mac-Groveland 179 (-17.9%)<br />
Merriam Park 88 (-30.2%)<br />
North End/Frogtown 369 (-9.3%)<br />
Phalen 414 (+11.9%)<br />
Southeast 110 (-23.1%)<br />
St. Anthony/Midway 164 (-31.1%)<br />
West 7th 86 (-27.7%)<br />
West Side/Cherokee 157 (+8.3%)<br />
<br />
In addition to reduced listings, closed sales on homes in St. Paul, Minnesota, also declined during the month of May. At 258, there were over 8.8% fewer closed sales than May of 2007’s 283. For the 2008 year overall, the picture is very different, as just 6.4% fewer homes have been closed on this year. 940 home sales were closed in St. Paul from January through May of 2008 compared to 1,004 during the same time period last year.<br />
<br />
As for home sales prices in Saint Paul, the downward trend is continuing. The glut of homes on the market has caused a decrease in real estate values. The average sales price of a home in the City of St. Paul was $184,935 in May 2008 compared to $230,672 in 2007. That is a decrease of 19.8%. The average sales price year-to-date in the City of St. Paul is $184,118. During the same time period in 2007, the average sales price of a home was $222,486, a decrease of 17.2%. The percentage of St. Paul homes which sold at their original list price has increased to 89.9%, an increase of over one full percentage point from last month. But last year, 94.9% of the homes sold in May were purchased for their original listing price.<br />
<br />
Average prices of homes sold in Saint Paul by neighborhood during May 2008:<br />
<br />
Como $203,298 (-8.8%)<br />
Crocus Hill $310,619 (+10.5%)<br />
Downtown Saint Paul $187,331 (-1.8%)<br />
East Side $114,196 (-29.8%)<br />
Highland Park $278,924 (-18.8%)<br />
Mac-Groveland $292,196 (-23.6%)<br />
Merriam Park $310,833 (-16.5%)<br />
North End/Frogtown $66,435 (-46.8%)<br />
Phalen $116,070 (-28.8%)<br />
Southeast $203,015 (+11.1%)<br />
St. Anthony/Midway $211,493 (-0.9%)<br />
West 7th $159,700 (-14.3%)<br />
West Side/Cherokee $78,725 (-69.7%)<br />
<br />
As you can see, not every neighborhood has experienced a decrease in average sales prices. Some real estate have increased! St. Paul neighborhoods like West Side/Cherokee and North End/Frogtown areas have experienced extremely steep drops in real estate prices, while Crocus Hill and Southeast seen some increases in average sales price compared to last year.<br />
<br />
Homes for sale in Saint Paul are staying on the market longer than they did in 2007. In May of 2008, a home in St. Paul was on the market for an average of 129 days before it was sold. In May of 2007, homes for sale in Saint Paul were on the market for an average of 111 days before selling. The amount of time a home spends on the market varies from neighborhood to neighborhood as well. Homes in the Mac-Groveland Saint Paul area in May were selling after an average of 75 days on the market, compared to 2007’s 116. It’s taking about 4 months or more in some neighborhoods, though. In West Side/Cherokee, it’s taking a 182 days for a home to sell! Year to date, homes are taking an average of 146 days to sell, compared to 2007’s 129 days. Here is the average number of days a home is on the market at the time of sale by St. Paul neighborhood for May of 2008.<br />
<br />
Como 109 (+34.8%)<br />
Crocus Hill 191 (+76.9%)<br />
Downtown Saint Paul 78 (-25.6%)<br />
East Side 171 (+47.8%)<br />
Highland Park 89 (-11.1%)<br />
Mac-Groveland 75 (-35.1%)<br />
Merriam Park 83 (-28.5%)<br />
North End/Frogtown 130 (+0.1%)<br />
Phalen 174 (+13.5%)<br />
Southeast 175 (+14.8%)<br />
St. Anthony/Midway 80 (+2.3%)
West 7th 117 (+5.1%)<br />
West Side/Cherokee 182 (+127.7%)<br />
<br />
This is a brief analysis of the St. Paul real estate market based on calculations by the Minneapolis Area Association of Realtors. These statistics do not reflect all situations. Though much of this information may seem like a downer, much of it a necessary market correction which has been happening for a while. It will take time for the real estate market to stabilize.<br />
<br />
Browse homes for sale by Saint Paul Neighborhood:<br />
<br />
<a href="https://www.barkerhedges.com/battle-creek-highwood/">Battle Creek & Highwood Real Estate</a><br />
<a href="https://www.barkerhedges.com/como-park-real-estate/">Como/Como Park Real Estate</a><br />
<a href="https://www.barkerhedges.com/downtown-saint-paul/">Downtown Real Estate</a><br />
<a href="https://www.barkerhedges.com/greater-east-side-real-estate/">Greater East Side Real Estate</a><br />
<a href="https://www.barkerhedges.com/hamline-midway-real-estate/">Hamline-Midway Real Estate</a><br />
<a href="https://www.barkerhedges.com/highland-park-real-estate/">Highland Park Real Estate</a><br />
<a href="https://www.barkerhedges.com/daytons-bluff-real-estate/">Dayton’s Bluff Real Estate</a><br />
<a href="https://www.barkerhedges.com/payne-phalen-real-estate/">Payne-Phalen Real Estate</a><br />
<a href="https://www.barkerhedges.com/macalester-groveland-real-estate/">Macalester-Groveland Real Estate</a><br />
<a href="https://www.barkerhedges.com/merriam-park-real-estate/">Merriam Park Real Estate</a><br />
<a href="https://www.barkerhedges.com/north-end-real-estate/">North End Real Estate</a><br />
<a href="https://www.barkerhedges.com/st-anthony-west-real-estate/">St. Anthony/Midway Real Estate</a><br />
<a href="https://www.barkerhedges.com/summit-hill-real-estate/">Summit Hill Real Estate</a><br />
<a href="https://www.barkerhedges.com/summit-university-real-estate/">Summit University Real Estate</a><br />
<a href="https://www.barkerhedges.com/thomas-dale-real-estate/">Thomas-Dale Real Estate</a><br />
<a href="https://www.barkerhedges.com/west-side-real-estate/">West Side Real Estate</a><br />
<a href="https://www.barkerhedges.com/west-7th-real-estate/">West 7th Real Estate</a>2008-06-22T19:48:00-07:002013-07-08T16:39:10-07:00Matt Barkertag:barkerhedges.com,2012-09-20:1934Saint Paul Market Analysis: April 2008Similar to the experience of Minneapolis but more dramatic, new listings for homes fell in Saint Paul, Minnesota, during the month of April, according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. During April of 2008, there were 681 new listings in the City of Saint Paul. In April of 2007, there were 806 new listings, which is a drop of about 15.5%. That is very different from March 2008’s drop of just 4.1%. St. Paul’s Downtown experienced the greatest decline in new listings at -42.4%.<br />
<br />
In March the East Side, Mac-Groveland, North End/Frogtown, Phalen, and West Side/Cherokee neighborhoods had more new listings than last year. However, in April there weren’t any Saint Paul neighborhoods which experienced an increase in new listings. The West Side/Cherokee and Mac-Groveland neighborhoods managed to hold steady, with no increase or decline for the month of April. Here is a list of April 2008 new listings in Saint Paul by neighborhood and the percentage of change that has occurred compared to April 2007. (To see a Barker & Hedges article about April 2008 St. Paul Market Activity, please click here.)<br />
<br />
Como: 38 (-33.3%)<br />
Crocus Hill: 48 (-14.3%)<br />
Downtown Saint Paul: 34 (-42.4%)<br />
East Side: 167 (-0.6%)<br />
Highland Park: 41 (-22.6%)<br />
Mac-Groveland: 44 (-0.0%)<br />
Merriam Park: 20 (-25.9%)<br />
North End/Frogtown: 84 (-22.9%)<br />
Phalen: 86 (-3.4%)<br />
Southeast: 23 (-11.5%)<br />
St. Anthony/Midway: 45 (-28.6%)<br />
West 7th: 19 (-9.5%)<br />
West Side/Cherokee: 32 (-0.0%)<br />
<br />
When you look at Saint Paul’s posted new listing for the 2008 year-to-date, there has been less drastic of a decrease. From January through April, there were 2,515 new listings in the city, compared to 2,637 during the same time period of 2007. That means there are just 4.6% fewer new listings so far this year. The most dramatic changes have happened in the Phalen neighborhood, where new listings have increase by 15.3% while the Merriam Park neighborhood new listings decreased by 32%. Here is a list of new listings in Saint Paul for the 2008 year to date compared to 2007:<br />
<br />
Como: 154 (-8.9%)<br />
Crocus Hill: 203 (-9.0%)<br />
Downtown Saint Paul: 199 (-5.7%)<br />
East Side: 535 (+6.2%)<br />
Highland Park: 161 (-5.3%)<br />
Mac-Groveland: 145 (-9.4%)<br />
Merriam Park: 68 (-32.0%)<br />
North End/Frogtown: 304 (-4.1%)<br />
Phalen: 331 (+15.3%)<br />
Southeast: 84 (-19.2%)<br />
St. Anthony/Midway: 138 (-27.0%)<br />
West 7th: 69 (-17.9%)<br />
West Side/Cherokee: 118 (+6.3%)<br />
<br />
Though some areas had fewer new listings, there have still been more homes put up for sale in these areas overall for the year. It will take more months of reduced new listings to balance the excess in available homes for sale in these areas.<br />
<br />
Closed sales on homes in St. Paul, Minnesota, picked up during the month of April. At 233, there were over 8.9% more closed sales than April of 2007’s 214. For the 2008 year overall, the picture is very different, as 5.4% fewer homes have been closed on this year. Remember, though, that in March, we had had 11% fewer homes purchased for the year to date, so we’ve made up about 5.5%. 681 home sales were closed in St. Paul from January through April of 2008 compared to 721 during the same time period last year.<br />
<br />
As for home sales prices in Saint Paul, the downward trend continues. There are still quite a few homes on the market, so a decrease in real estate prices is to be expected as sellers tried to unload their property. The average sales price of a home in the City of St. Paul was $175,875 in April 2008 compared to $223,773 in 2007. That is a decrease of 21.4%. The average sales price year-to-date in the City of St. Paul is $183,809. During the same time period in 2007, the average sales price of a home was $219,273, a 16.9% decrease. The percentage of St. Paul homes which sold at their original list price has increased to 88.8%, a full percentage point increase from last month. But last year, 96.3% of the homes sold in April were purchased for their original listing price.<br />
<br />
Average prices of homes sold in St. Paul by neighborhood during April 2008:<br />
<br />
Como: $211,350 (+6.7%)<br />
Crocus Hill: $309,047 (+ 2.5%)<br />
Downtown Saint Paul: $193,900 (-14.5%)<br />
East Side: $107,145 (-36.8%)<br />
Highland Park: $259,890 (-21.2%)<br />
Mac-Groveland: $250,754 (-12.6%)<br />
Merriam Park: $240,903 (-36.8%)<br />
North End/Frogtown: $73,661 (-44.4%)<br />
Phalen: $113,374 (-39.7%)<br />
Southeast: $158,060 (-17.1%)<br />
St. Anthony/Midway: $216,441 (+13.0%)<br />
West 7th: $90,525 (-58.4%)<br />
West Side/Cherokee: $158,836 (-10.4%)<br />
<br />
As you can see some St. Paul neighborhoods like West 7th and Frogtown have experienced deep drops in real estate prices, while Crocus Hill and St. Anthony/Midway seen some increases in average sales price compared to last year. Though in March, prices in the Downtown neighborhood had been climbing compared to last year, in April we can see that they are dropping.<br />
<br />
Homes for sale in Saint Paul are staying on the market longer than they did in 2007. In April of 2007, a home in St. Paul was on the market for an average of 133 days before it was sold. In April of 2008, homes for sale in Saint Paul were on the market for an average of 153 days before selling. The amount of time a home spends on the market varies from neighborhood to neighborhood as well. Last year, homes sold in West 7th and St. Anthony/Midway were on the market less than two months before being purchased, but this year it’s taking about 6 months or more in both neighborhoods. During April, Crocus Hill is the only neighborhood which saw the amount of days a home spends on the market decrease. A home there spent 155 days on the market when it was sold in April compared to 168 last year. Here is the average number of days a home is on the market at the time of sale by St. Paul neighborhood for April of 2008.<br />
<br />
Como: 112 (+1.2%)<br />
Crocus Hill: 139 (-22.7%)<br />
Downtown Saint Paul: 256 (+8.6%)<br />
East Side: 153 (+6.3%)<br />
Highland Park: 131 (+4.3%)<br />
Mac-Groveland: 124 (-4.1%)<br />
Merriam Park: 170 (+71.1%)<br />
North End/Frogtown: 164 (+32.4%)<br />
Phalen: 186 (+21.5%)<br />
Southeast: 193 (+31.5%)<br />
St. Anthony/Midway: 115 (+117.1%)<br />
West 7th: 172 (+261.4%)<br />
West Side/Cherokee: 242 (+105.3%)<br />
<br />
This is a brief analysis of the St. Paul real estate market based on calculations by the Minneapolis Area Association of Realtors. These statistics do not reflect all situations. Though much of this information may seem like a downer, much of it a necessary market correction which has been happening for a while. It will take time for the real estate market to stabilize.<br />
<br />
Browse homes for sale by Saint Paul Neighborhood:<br />
<a href="https://www.barkerhedges.com/battle-creek-highwood/">Battle Creek & Highwood</a><br />
<a href="https://www.barkerhedges.com/como-park-real-estate/">Como/Como Park</a><br />
<a href="https://www.barkerhedges.com/downtown-saint-paul/">Downtown</a><br />
<a href="https://www.barkerhedges.com/greater-east-side-real-estate/">Greater East Side</a><br />
<a href="https://www.barkerhedges.com/hamline-midway-real-estate/">Hamline-Midway</a><br />
<a href="https://www.barkerhedges.com/highland-park-real-estate/">Highland Park</a><br />
<a href="https://www.barkerhedges.com/daytons-bluff-real-estate/">Dayton's Bluff</a><br />
<a href="https://www.barkerhedges.com/payne-phalen-real-estate/">Payne-Phalen</a><br />
<a href="https://www.barkerhedges.com/macalester-groveland-real-estate/">Macalester-Groveland</a><br />
<a href="https://www.barkerhedges.com/merriam-park-real-estate/">Merriam Park</a><br />
<a href="https://www.barkerhedges.com/north-end-real-estate/">North End</a><br />
<a href="https://www.barkerhedges.com/st-anthony-west-real-estate/">St. Anthony/Midway</a><br />
<a href="https://www.barkerhedges.com/summit-hill-real-estate/">Summit Hill</a><br />
<a href="https://www.barkerhedges.com/summit-university-real-estate/">Summit University</a><br />
<a href="https://www.barkerhedges.com/thomas-dale-real-estate/">Thomas-Dale</a><br />
<a href="https://www.barkerhedges.com/west-side-real-estate/">West Side</a><br />
<a href="https://www.barkerhedges.com/west-7th-real-estate/">West 7th</a>2008-05-13T13:39:00-07:002013-06-30T15:09:02-07:00Matt Barkertag:barkerhedges.com,2012-09-20:1913Saint Paul Market Analysis: March 2008Similar to the experience of Minneapolis (though not nearly as dramatic), new listings for homes fell in Saint Paul, Minnesota, during the month of March, according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. During March of 2008, there were 670 new listings in the City of Saint Paul. In March of 2007, there were 699 new listings, which is a drop of about 4.1%. The Saint Anthony/Mid-way neighborhood experienced the greatest decline in new listings at 40.4%.<br />
<br />
There were quite a few neighborhoods which experienced an increase in new listings, however. The East Side, Mac-Groveland, North End/Frogtown, Phalen, and West Side/Cherokee neighborhoods had more homes listed for sale in March of 2008 than in March of 2007. The escalating listings in these neighborhoods account for one aspect of why Saint Paul did not experience the drastic over-all drop encountered by Minneapolis. Here is a list of March 2008 new listings in Saint Paul by neighborhood and the percentage of change that has occurred compared to March 2007.<br />
<br />
Como: 45 (-4.3%)<br />
Crocus Hill: 54 (-8.5%)<br />
Downtown: 49 (-29.0%)<br />
East Side: 143 (+8.3%)<br />
Highland Park: 45 (-6.3%)<br />
Mac-Groveland: 42 (+5.0%)<br />
Merriam Park: 25 (-3.8%)<br />
North End/Frogtown: 79 (+12.9%)<br />
Phalen: 84 (+18.3%)<br />
Southeast: 21 (-30.0%)<br />
St. Anthony/Midway: 34 (-40.4%)<br />
West 7th: 18 (-35.7%)<br />
West Side/Cherokee: 30 (+15.4%)<br />
<br />
Saint Paul’s posted new listing for the 2008 year-to-date has changed even less drastically. From January through March of 2008, there were 1,834 new listings in the city, compared to 1,831 during the same time period of 2007. That is actually an increase of about 0.2%. The most dramatic changes have been happening in the Merriam Park neighborhood, where new listings have dropped by about 34.2% while the Phalen neighborhood has gained about 23% new listings. Here is a list of new listings in Saint Paul for the 2008 year to date compared to 2007:<br />
<br />
Como: 116 (+3.6%)<br />
Crocus Hill: 155 (-7.2%)<br />
Downtown: 165 (+8.6%)<br />
East Side: 368 (+9.5%)<br />
Highland Park: 120 (+2.6%)<br />
Mac-Groveland: 101 (-12.9%)<br />
Merriam Park: 48 (-34.2%)<br />
North End/Frogtown: 220 (+5.8%)<br />
Phalen: 245 (+23.7%)<br />
Southeast: 61 (-21.8%)<br />
St. Anthony/Midway: 93 (-26.2%)<br />
West 7th: 50 (-20.6%)<br />
West Side/Cherokee: 86 (+8.9%)<br />
<br />
If you compare these figures to the month of March, even though some areas had fewer new listings, there have still been more homes put up for sale in these areas overall for the year. It will take more months of reduced new listings to balance the excess in available homes for sale in these areas.<br />
<br />
Closed sales on homes in Saint Paul, Minnesota, continue to slow as they did in Minneapolis, though as a slightly higher rate. During the month of March 2008, at 169, there were over 12% fewer closed sales than March of 2007’s 192. For the 2008 year overall, the picture is about the same as 11% fewer homes have been closed on. 449 home sales were closed in St. Paul from January through March of 2008 compared to 507 during the same time period last year.<br />
<br />
When it comes to price, the downward trend continues in St. Paul as it did in Minneapolis. This is to be expected with the sheer amount of homes that are for sale, driving down the price. The average sales price of a home in the City of St. Paul was $188,742 in March 2008 compared to $214,999 in 2007, a decrease of about 12%. The average sales price cumulative from January through March in the City of Saint is about the same. During that time period in 2007, the average sales price of a home was $217,373, which a little over 14% to $187,927 for 2008. The percentage of St. Paul homes which sold at their original list price has decreased to 87.8% during the month of March, down from 95.6% in 2007.<br />
<br />
Average prices of homes sold in St. Paul by neighborhood:<br />
<br />
Como: $172,978 (-30.0%)<br />
Crocus Hill: $549,500 (+63.9%)<br />
Downtown: $254,164 (+48.2%)<br />
East Side: $105,268 (-36.7%)<br />
Highland Park: $244,150 (-0.2%)<br />
Mac-Groveland: $262,417 (-16.5%)<br />
Merriam Park: $342,380 (+3.2%)<br />
North End/Frogtown: $66,425 (-47.6%)<br />
Phalen: $87,536 (-53.0%)<br />
Southeast: $207,414 (+6.8%)<br />
St. Anthony/Midway: $229,988 (+19.2%)<br />
West 7th: $132,989 (-20.7%)<br />
West Side/Cherokee: $218,000 (+29.7%)<br />
<br />
As with Minneapolis, the decrease in sales price has not been uniform across the board. St. Paul neighborhoods like Downtown, Crocus Hill, and West Side/Cherokee have seen some fairly hefty increases in average sales price compared to last year. Prices in the Downtown neighborhood could be climbing due to higher demand and fewer new listings. In contrast, the affordability of the West Side/Cherokee neighborhood is driving demand for homes, raising the price for which the seller can ask.<br />
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Homes for sale in St. Paul are staying on the market longer than they did in 2007. In March of 2007, a home in St. Paul was on the market for an average of 132 days before they were sold. In March of 2008, St. Paul homes were on the market for an average of 156 days. The amount of time a home spends on the market varies from neighborhood to neighborhood as well. Last year, homes in Mac-Groveland were being snapped up after barely two months on the market, but this year it’s taking about 6 months to sell a home. Because of the demand for homes in the West Side/Cherokee neighborhood, the amount of days a home spends on the market has dropped from 206 days to 174 days. Here is the average number of days a home is on the market at the time of sale by St. Paul neighborhood for March of 2008.<br />
<br />
Como: 92 (-11.4%)<br />
Crocus Hill: 226 (+55.7%)<br />
Downtown Saint Paul: 148 (+59.3%)<br />
East Side: 157 (+7.2%)<br />
Highland Park: 133 (+40.8%)<br />
Mac-Groveland: 178 (+170.2%)<br />
Merriam Park: 136 (-12.5%)<br />
North End/Frogtown: 218 (+24.2%)<br />
Phalen: 148 (+8.1%)<br />
Southeast: 219 (+11.8%)<br />
St. Anthony/Midway: 111 (-1.8%)<br />
West 7th: 169 (-9.4%)<br />
West Side/Cherokee: 174 (-15.6%)<br />
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This is a brief analysis of the St. Paul real estate market based on calculations by the Minneapolis Realtors Association. These statistics do not reflect everyone’s situation. Though much of this information may seem a little depressing, if the decrease in new listings becomes a trend it may help slow the slide of local property values in general.<br />
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Browse homes for sale by Saint Paul Neighborhood:<br />
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<a href="https://www.barkerhedges.com/battle-creek-highwood/">Battle Creek & Highwood</a><br />
<a href="https://www.barkerhedges.com/como-park-real-estate/">Como/Como Park</a><br />
<a href="https://www.barkerhedges.com/downtown-saint-paul/">Downtown</a><br />
<a href="https://www.barkerhedges.com/greater-east-side-real-estate/">Greater East Side</a><br />
<a href="https://www.barkerhedges.com/hamline-midway-real-estate/">Hamline-Midway</a><br />
<a href="https://www.barkerhedges.com/highland-park-real-estate/">Highland Park</a><br />
<a href="https://www.barkerhedges.com/daytons-bluff-real-estate/">Dayton's Bluff</a><br />
<a href="https://www.barkerhedges.com/payne-phalen-real-estate/">Payne-Phalen</a><br />
<a href="https://www.barkerhedges.com/macalester-groveland-real-estate/">Macalester-Groveland</a><br />
<a href="https://www.barkerhedges.com/merriam-park-real-estate/">Merriam Park</a><br />
<a href="https://www.barkerhedges.com/north-end-real-estate/">North End</a><br />
<a href="https://www.barkerhedges.com/st-anthony-west-real-estate/">St. Anthony/Midway</a><br />
<a href="https://www.barkerhedges.com/summit-hill-real-estate/">Summit Hill</a><br />
<a href="https://www.barkerhedges.com/summit-university-real-estate/">Summit University</a><br />
<a href="https://www.barkerhedges.com/thomas-dale-real-estate/">Thomas-Dale</a><br />
<a href="https://www.barkerhedges.com/west-side-real-estate/">West Side</a><br />
<a href="https://www.barkerhedges.com/west-7th-real-estate/">West 7th</a>2008-04-21T06:57:00-07:002013-07-06T13:02:42-07:00Matt Barker