Despite continuing economic uncertainty, the housing market in the Twin Cities area showed modest signs of improvement in July.
At the end of the month, pending Twin Cities real estate sales were up 42.7% over the same month of the previous year, when sales were dropping after the tax credit expired for first-time home buyers. It was the third consecutive month of double-digit, year-over-year gains in pending sales, according to data released by the Minneapolis Area Association of Realtors.
Home prices have not yet rebounded and a new report suggests that foreclosures will continue to dominate the market. In spite of this, market watchers see reasons to be optimistic.
Declining inventory is the most promising sign. With sellers reluctant to brave the tough market, new listing activity was down 16% in July compared with last year, helping send total inventory down 19% from a year ago. About 24,000 homes are on the market today.
Similar tentatively good news recently came from a report on the Twin Cities housing market from the University of St. Thomas.
The University of St. Thomas’s Real Estate Index, which is based on nine market indicators, increased from 784 in June to 799 in July; the index was 847 in July 2010. While closed sales were up 34 percent compared with last year, the report showed that the median sale prices of all closed sales dropped three percent from June to July, from $165,000 to $160,000.Compared with 2010 prices were down 8.5 percent. Excluding foreclosures and short sales, prices were down only 1.5 percent from June to July and down 10.4 percent from July 2010 to 2011.
The Minnesota Association of Realtors said that throughout the state the number of closed home sales during July was down 33.5% with the median sale price of those deals down 6.5%. These are comparisons to July 2010. Despite an uptick in sales activity this summer, the number...
Here is MLS # 4015764
This charming duplex is located at 659 Wilder Street South in St. Paul, Minnesota. This home has 2,228-square-feet and was constructed in 1929 in the Highland Park neighborhood. Each unit has 2 bedrooms and 2 bathrooms.
Each unit also has generous living spaces, hardwood floors, and updated electical and plumbing. The kitchens and bathrooms have also recently been remodeled.
This duplex would be great for an owner occupant or an investor. It could be yours for $299,900!
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Here is MLS # 3959115
This single-family home is located at 2433 Youngman Avenue in Saint Paul, MN. This 1 and 1/2 story home was built in 1919. It has 3 bedrooms, 2 bathrooms, and 1,329-square-feet of space.
This beautifully updated home features a huge master loft with skylights, a private bath, and large closets. Two bedrooms and one bathroom are on the main level. Brand new kitchen & private dining!
Located across from Crosby Lake Park, this house could be yours for $149,900!
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Browse more Saint Paul MN Real Estate.
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...
The first St. Paul real estate market analysis for the year of 2009! New posted listings for homes in St. Paul, Minnesota, decreased in January according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. During the month, there were 548 new listings in Saint Paul, compared to the 562 homes put up on the market during January 2008. That is a decrease of just -2.5%. It was a mixed bag when the posted new listings are broken out by neighborhood, as some big increases while others saw decreases. Here is a breakdown of new listings by Saint Paul neighborhood:
The number of homes sold within St. Paul, Minnesota, in January 2009 is higher than the same month of 2008, a trend that has been running for a few months. There were 170 homes sold throughout the month, a +7.6% increase over the 158 homes sold in January 2008. Closed sales on homes for January 2009 in Saint Paul by neighborhood:
The prices of homes sold in St. Paul have continued to fall. The average sales price of a home sold in January was $111,222, a negative change from the $205,897 of January2008. That is a decrease of -46.0%. Only the West 7th neighborhood saw an increase in real estate prices in January. The percentage...
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 Saint Paul...
New posted listings for homes in Saint Paul, Minnesota, decreased during November according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. Throughout the month, there were 398 new listings in St. Paul. In the previous year, there were 481 new listings during November. That is a -17.3% reduction in new listings, comparatively. The only neighborhoods of St. Paul which saw increases in posted new listings of homes for sale were Phalen and Merriam Park. A drop off in new listings is to be expected now and over the next few months as the winter season really starts kicking up snow.
Saint Paul’s new listings of homes for sale from for the year-to-date from January through November are at 6,460. That is a decrease of -9.9% from last year’s 7,169 for the same time frame. Southeast, St. Anthony / Midway, and West 7th neighborhoods are continuing to experience great declines in homes being listed for sale. The Phalen and West Side / Cherokee areas have been the only Saint Paul neighborhoods to see boosts in new listings through the month of November.
And now the part that you’ve been waiting for: the good news. The number of homes sold within St. Paul, Minnesota, during November...
New listings for homes in Saint Paul, Minnesota, fell again during October according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. Throughout the month, there were 515 new listings in St. Paul. During October of 2007, there were 603 new listings. That is a decrease of about -14.6%. Normally, I list the neighborhoods here that saw the greatest decreases in new listings, but there are many which saw decreases of 20% to over 45%. The only neighborhoods which saw any significant increase of new listings were the Phalen and Merriam Park neighborhoods of Saint Paul.
Posted new listings of Saint Paul real estate for the year to date were at 6,062 from January through October. That is a decrease of -9.4% from last year’s 6,688 during the same time period. Merriam Park, West 7th, and St. Anthony / Midway continue to experience great decreases in new listings. The Phalen neighborhod and West Side / Cherokee neighborhoods are the only ones to have seen any increases in new listings for the year to date.
Now for a really good number: The amount of homes sold within Saint Paul, ...
Changing from what has been happening in recent months, new listings of homes for sale in Saint Paul, Minnesota, rose during September according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. During the month, there were 621 new listings in St. Paul. Throughout September of last year, there were 602 new listings. That is equal to an increase of about +3.2%! The Phalen and Highland Park neighborhoods of St. Paul experienced the greatest increase in new listings during September at +44.3% and +32.4% respectively. On the contrary, the West 7th and Merriam Park neighborhoods saw declines in new listings of -45.0% and -50.0% respectively during September.
Posted new Saint Paul real estate listings from January through September for the year to date were at 5,543. That is a decrease of -8.9%. The month of September’s rise in new listings helped to raise that number up a bit that from August’s -10.2%. If the trend continues in October for new listings in Saint Paul, the real estate market might be on par with posted listings for last year. Saint Paul's Merriam Park and St. Anthony / Midway had the most extreme decrease in new listings. The Phalen and West Side / Cherokee neighborhoods have seen...
As a Minnesota resident, you already know that the foliage here is breathtaking in the fall. This weekend, residents of and visitors to St. Paul have a special chance to take a look at beautiful fall foliage from an unusual vantage point. On Saturday and Sunday, view the autumn leaves from the top of the 127-foot Highland Water Tower in Saint Paul during its open house from 9 a.m. to 5 p.m. Admission is free and open to the public. Visitors are invited to climb the 151-step staircase inside the tower to the observation deck.
The Highland Water Tower’s observation deck offers visitors with a fantastic view of the area, particularly looking down on the changing colors of the trees scattered across the Highland Park golf course below and out toward the Mississippi River. On a clear day, airplanes can be seen taking off and landing at the Minneapolis-St. Paul International airport to the south. The view of the landscape stretches from the Saint Paul city skyline on the east to the Minneapolis skyline on the west. The Highland Water Tower open house provides an excellent opportunity for photographs and is also a fun outing the whole family can enjoy.
The water tower is an historic landmark located in the Highland neighborhood at the intersection of Snelling Avenue and Ford Parkway. The tower, which was designed by Clarence...
Once again, new listings for homes fell in Saint Paul, Minnesota
, during the month of July, according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities
. During July of 2008, there were 599 new listings in the City of Saint Paul
. In July of 2007, there were 692 new listings, which is a drop of about -13.4%, a bit worse than June'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 whopping 86.4% more listings when compared to July 2007’s statistics.
Looking at posted new listing for Saint Paul real estate the 2008 year-to-date, from January through July, there were 4,369 new listings in the city, compared to 4,841 during the same time period of 2007. That means there were 9.8% fewer new listings so far this year. The most dramatic 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 houses for sale than last year.
Yet again, a reduction in the amount of listings has not meant fewer closed sales on homes in Saint Paul MN. At 300, there were 5.3% more closed sales this year in July than the...
On Thursday, Michigan-based Ford Motor Co. announced that it’s Twin Cities Assembly Plant in St. Paul's Highland Park neighborhood will continue producing the Ranger small pickup through 2011. Previously, the plant had been scheduled to close just over a year from now.
"This is great news for the City of Saint Paul. Ford has been an integral part of our community for more than 80 years, with a legacy of providing good jobs in Saint Paul — a legacy we are working to extend as long as possible," said Saint Paul Mayor Chris Coleman in a statement.
In April 2006, due to decreasing sales in pick-up trucks and SUVs, Ford announced that its Ranger plant in the Twin Cities was to close in 2008. Then last year, the automaker extended the plant's life until 2009 because the vehicle seemed to be defying the trend. Because sales of the Ford Ranger are off only 4 percent in the first half of this year, compared to the 18 percent fewer lightweight truck sales for the rest of the industry, state and city leaders have been continuing to press Ford to reconsider.
Said Sen. Norm Coleman, who has put himself in the right a few times to save the fort plant, "I am certainly thrilled that they've seen what I saw. That is, if you're going to be in the truck business, this is the best vehicle to keep running."
The Saint Paul plant's hourly work force is down to 900 employees from 1,900 in 2006, when many took buyouts. Of those remaining, 240 are permanent workers and the rest temporary. It's not known if the extension will mean Ford will need to boost its workforce at the plant.
In a series of statements Thursday morning, city and...
Summer is the season of festivals here in Saint Paul, Minnesota
Going backwards, in the last month we’ve had Highland Fest
, the West End Art Show
, the Dragon Festival
, St. Paul Fourth of July
Fireworks displays, and the Taste of Minnesota
I’m sure I’ve missed some along the way, as well.
Prepare yourself: It’s time for more fun!
Spur on your inner Cowboy and head to the grandest Family Frontier Festival this side of the Mississippi! Beginning on Friday, July 25th, and running through Sunday, July 27th, the Wild West Frontier Fest on the Mississippi will be in full swing. This event will be located at Harriet Island on the St. Paul Riverfront.
There will be plenty of food and entertainment. There will be three stages for live music and inside a tent, silent movies will be shown. There will also be Riverboat rides and more good, old-fashioned fun for the whole family! Children aged 12 years and under can attend for free. For adults, there is a $12 with a portion going to Second Harvest food bank. Visit www.wildwestfrontierfest.com for more information.
I truly meant to write about this event on Friday, but it has been such a busy summer here it didn’t quite make it in time. Luckily, Saint Paul’s Highland Fest is a three day celebration and there are still entertaining events happening today!
Held in the Highland Park neighborhood of St. Paul, this year’s Highland Fest began on Friday, July 18, and goes through today, Sunday, July 20. The festival features a juried art fair, music, entertainment, amusement rides, and plenty of food. Highland Fest draws between 60,000 and 65,000 visitors each year, with the largest turnout on Saturday.
Highland Fest is an annual festival organized and promoted by the Highland Business Association, which works hard year-round to highlight the Highland Park community and businesses. All proceeds benefit the association, which in turn uses the funds for operational support and for street-scape improvements in Highland Village. Festival organizers hope to continue to build on the positive relationship between the business community and the local neighborhood.
New events this year include Bingo at the beer tent throughout the weekend and a Strongman Competition on Sunday. Today from 1-5 pm, the Highland District Council and Thomas Liquors will be hosting a wine tasting in the beer tent.
So what exactly is on the agenda today? Well, for music there are a few options. On the Treasure Island Stage, ...
Ford Motor Company's Twin Cities Assembly Plant is located next to the Mississippi River in the Highland Park neighborhood of St. Paul, Minnesota
A part of Saint Paul
’s history since it was first built in 1924, it is the oldest Ford plant still in operation. Today, the plant manufactures the Ford Ranger pickup truck and the similar Mazda B-Series.
However, as automakers cut back production of large sport-utility vehicles and pickups, the 138-acre Ford plant is scheduled to close in September 2009.
The plant employs nearly 2,000 people from all over the Twin Cities area.
Minnesota Republican Sen. Norm Coleman has called on the Ford Motor Co. to reexamine its decision to close the plant, noting that Ranger pickup sales increased during the first five months of this year compared with the same period of 2007. The overall increase occurred despite a drop in May.
The former St. Paul mayor wrote a letter to Ford Chief Executive Alan Mulally which said that "Sales of the Ford Ranger are proving that folks want fuel-efficient vehicles. The Ranger is one of the most cost-effective vehicles in its class, and it is my hope that Ford will reexamine the potential of this plant in light of increased demand."
Coleman's request, which was simply the latest in a series of requests from Minnesota leaders and politicians, comes as gasoline tops $4 a gallon in many...
The Highland Park
neighborhood of St. Paul, Minnesota
, can be found in the southwestern corner of the city.
Its boarders are Randolph Avenue
to the north, West 7th Street
and Minnesota Highway 5 to the south, and Interstate 35E to the east. Its western boarder is the Mississippi River. Highland Park’s great location allows ready access to Interstates 94 and 35E. Likewise, the Minneapolis and St. Paul International Airport is directly across the river. Both Downtown St. Paul and Minneapolis are just a few minutes drive away. If you’re looking for the Saint Paul neighborhood that has it all, Highland Park may be just the place for you. From merchants to entertainment, Highland Park real estate has much to offer.
The Highland Park neighborhood is extremely pedestrian friendly, with many sidewalks and paths available for its residents. In fact, many of the amenities which the neighborhood has to offer are within walking distance....