North St Paul, that quaint community on the east side of the Twin Cities with the big smiling snowman, has had a similar year over year changes from 2009 compared to 2008 as many other communities in the metro. New Listings are down and sales are up which equates to less inventory. The average sales price is down but not in a free fall. It is down just over 7% and with the ratio of price received versus list price going up, this eastern Ramsey County community seems to be making a bit of progress toward a more stable balanced market. The average days-on-the-market statistic is down by well over 10% so homes are staying on the market for less time. Traditional sellers that reside in North St. Paul who are considering a move to take advantage of the tax credit will have an opportunity this spring as there are few well maintained homes at lower price points as compared to buyers in the current market.
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Teri
It's nice to see the closed sales up like that.
Hi Teri - Your market has the same mixed results as mine -- number of sales up, prices down. Hopefully we can get these both headed up in 2010!
Your market is so similar to ours and we are seeing similar numbers but our average price is a bit lower. Thanks for the report.
Hi Teri,
You always do such a great job on your market reports. No doubt they're helpful to the North St. Paul home buyers and sellers.
I've been wondering how you've been doing with all this snow, yet for your neck of the woods it's probably not a big deal compared to the east coast.
Tom--It is certainly a step in the right direction for the market.
John--Homes are selling and that is a good thing. Most of the REO/short sales in the low prices have worked through the system. Hopefully that trend willl continue. Homes are very affordable with the low interest rates right now.
Terry and Bonnie--As we get closer into the cities, the average price rises a bit. Some of the communities I serve further north are still a bit lower for the average price sold. Hopefully some higher valued homes will start moving this year and get that average sold price to move up!
Lynda--Thank you! I try to get good information out to people in the communities I serve.
We have had our share of snow but nothing like the east coast! We haven't even had a snow day this year for the kids. Our snowfalls have been measured in inches not feet like some of the storms out east...That would shut our area down for a day or so too!
Teri,
less listings in 2009 than 2009 but you have a better closed files in 2009, so it seemed that it was a little bit better and I hope that this 2010 gets better, keep the good work :)