Saint Paul Real Estate Blog

Saint Paul Real Estate Market Analysis for February 2009

According to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities, new posted listings for homes in St. Paul MN, decreased in February.  There were 480 new listings in Saint Paul throughout the month, compared to the 602 homes put up on the market during February 2008.  That is a decline of -20.3%.  In contrast, there were 548 new listings in January 2009.  The Merriam Park neighborhood and West 7th neighborhood of St. Paul experienced increases in posted new listings, while rest saw their listings decrease.

For the year to date posted new listings in St. Paul, the picture looks just a little different. For February and January, there were 1,027 new listings, compared to the 1,164 during the same time frame of 2008. That’s a -11.8% reduction.  The Greater East Side, Merriam Park, and West 7th neighborhoods saw a rise in listings up to +17.4%; other Saint Paul neighborhood listings dropped.

There were many homes sold in Saint Paul in February compared to 2008.  There were 202 homes sold throughout the month, a full +27.0% increase over the 159 homes sold in February of 2008!  Rates at which homes were selling varied from neighborhood to neighborhood, with the biggest differences seen in West Side/Cherokee...

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