With the first quarter of 2016 now officially behind us, we thought now might be a good time to take a quick look at how some of St. Paul’s hottest neighborhoods are faring heading into the spring and summer buying season. St. Paul’s Summit Hill neighborhood still has the highest average sales price in town, which is hovering right around $400,000, while Highland Park, Macalester-Groveland, and Merriam Park / Lexington-Hamline are all right around the $300,000 line.
The good news for these areas is that they’re all pretty close to where the average sales price was at in 2006 well before the crash and at the height of the market, with perhaps the exception being Merriam Park / Lexington-Hamline, which was closer to $350,000 during the first quarter of ’06.
In any case, if considering a change in scenery and live Summit Hill, Highland Park, Macalester-Groveland, and Merriam Park / Lexington-Hamline, the time to sell may be right now. Interest rates are still low, inventory is down, and the spring season is one of the busiest times of the year for the Minneapolis real estate market.
For a free evaluation of what your Minneapolis home is worth, give The Kris Lindahl Team a call today and let is know what your home buying or selling goals are for 2016!