Why do I do this every month? Glad you asked, I do it because real estate is local, very local. It is nice to know if home prices are going up or down on average nation-wide but for most home owners the value of their own home is more important to them. There are numbers for the entire metro area but that usually includes at least 13 counties and sometimes parts of Wisconsin.
The numbers used to make this chart were taken from the Northstar MLS. The information is deemed reliable but not guaranteed, and includes all homes and town houses listed on the MLS with in the St. Paul city limits.
This is typical for January, the number of listings is a bit higher than it was last month and the overall inventory is higher which in this case is a good thing. Last month it was so low it was getting hard to find the right home for my buyers. The prices went down a little from December which has become the new normal, they will tick up in February. The interest rates remain at historic lows creating the perfect storm for those who are trying to buy or sell before the tax credits run out.
For more local numbers check out my Local Market Conditions & home prices category.
