January’s MLS stats are out and St. Paul saw a healthy jump in its median sales price – it’s up 11 percent over the median sales price in January of 2014. It now stands at $149,835.
We saw fewer homes listed this January compared to last, closed sales decreased 8.6 percent and properties remained on the market longer this year, 102 days compared to 98 in January 2014.
The winning St. Paul neighborhoods
When we break the St. Paul real estate market down into neighborhoods we find clear winners and losers. These neighborhoods saw the largest increases in median sales prices:
- West Seventh, up 69.8 percent to $170,250
- Dayton’s Bluff, up 50.7 percent to $130,000.
- Greater East Side, up 36.4 percent to $137,400.
St. Paul neighborhoods where median sales price decreased
While several of St. Paul’s neighborhoods saw the median home price decrease since this time last year, these are the biggest losers:
- St. Anthony Park, down 59.8 percent to $169,000.
- Mac-Groveland down 22.1 percent to $222,000.
- West Side down 20.4 percent, to $107,500.
Where homes are selling the quickest and closest to list price
Homes sell the quickest in Hamline-Midway (52 days), Summit-University (67 days) and Greater East Side (68 days). They take the longest to sell in West Seventh (145 days), Downtown St. Paul (140 days) and St. Anthony Park (122 days).
Homeowners in the Summit University neighborhood are realizing 98 percent of their list price, Hamline-Midway neighborhood homeowners are getting 96 percent of their list price and Payne-Phalen homes for sale bring in 95.8 percent of list price.
Until next time, Happy Valentine’s Day!