Real Estate Listings Vs. Pending Sales for St. Paul, MN

Some numbers . . . and then some more numbers.

The red line on the chart above shows the number of homes that were listed for sale through the Regional Multiple Listing Service (MLS) each week since the beginning of the year.  The blue line shows how many homes had offers made on them that were accepted by the sellers during the same week. Some of the homes have closed and some have not. Pending sales and listings are a metric used to measure the health of the real estate market.  Real estate is local and these numbers are for St. Paul Minnesota, but are pretty similar to the rest of the metro area.

The inventory of homes on the market continues to decline.  There are currently, and I will use the word only this time, 1668 homes on the market in St. Paul.  That doesn't mean that they are selling briskly. They sell quickly in the lowest price ranges and much slower in the higher price ranges.  Condo and townhouse sales are especially sluggish.

For those who are looking for bargains there are some bargains.  For the pickiest of home buyers there isn't much to choose from. . . I a not kidding in some price ranges it is slim pickings.  I'll post the prices by neighborhood on Monday.  Home prices on average continue to trend down ward but at a much slower rate than they did a year ago.

For more charts and numbers see local market conditions and home prices