Saint Paul Real Estate Blog

All Aboard Saint Paul - Next Stop Duluth or Chicago

Last month (I guess technically last year!), a report was released that indicated ridership on Amtrak rails in Minnesota is up.  The Empire Builder gained about 10% more riders in the 2008 fiscal year, which ended in September.  The Empire Builder is Amtrak’s line which travels from Chicago to Saint Paul before heading west through North Dakota and Montana into Washington and Oregon. At its largest stop in Minnesota, which is St. Paul's Midway station, 147,791 people boarded or departed Amtrak trains in the fiscal 2008 year. That is about 14,700, or 10 percent, more than in 2007.

At that pace, a high-speed train service between Saint Paul and Chicago may be in our future. Additionally, a Northern Lights Express line between Duluth and Minneapolis is already moving forward.

It’s no fluke, either.  The Empire Builder is on its sixth straight year of ridership growth.  Whenever services are added to the line, they fill up almost immediately.  Proponents of the rails believe that if the trains can be faster and more efficient, even more people will choose to ride.

Overall, Amtrak gained nearly 2 million new passengers in the fiscal year, with the high cost of gas the most likely contributor to the influx of new rail travelers. Amtrak and other rail services’ sudden...

Saint Paul Real Estate Market Analysis for December 2008

This is the final St. Paul real estate market analysis for the year of 2008.  According to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities, new posted listings for homes in St. Paul, Minnesota, increased in 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, which adds up to an increase of +13.7%.  Unlike November, lots of neighborhoods in Saint Paul saw increases in new listings.  The increase is a little unusual, because December is obviously a month full of holidays and most people don’t want the hassle of putting their house up on the market.

There were 6,859 new listings of homes for sale in St. Paul that were posted within the 2008 year.  That is a decline of -8.8% from the 7,520 homes listed throughout the year of 2007.  The neighborhoods of Mac-Groveland, St. Anthony / Midway, and West 7th 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 compared to 2007.

There was a higher number of homes sold within St. Paul, Minnesota, in December 2008 than in 2007.  There were 217 homes sold during the month, +5.9% more than the 205 homes sold during December of 2007.  There were 3,046 closed sales in ...

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