That giant snowman has a reason to smile these days as the real estate values have once again showed significant year over year improvement in 2014.
North St Paul is an eclectic, vibrant community located east of Minneapolis/St Paul metro and home to the world’s largest snowman. While the number of new listings and closed sales were significant, they were on par with 2013. However, the average sales price increased by almost 14% during 2014 and there was a similar rebound in the price per square footage which rose from $96 to $101. This is very significant if compared to statistics at the end of 2011. The average price of a North St Paul home was under $130K and the average sold price per square foot just $80 just 3 years ago. This translates to a 33.5% rebound in average sold price and 25% increase in price/square foot. The average days-on-the-market statistic has also dropped significantly for the second year in a row to just 76 days. Compared to three years ago when homes took an average of 130 days to sell a home in the community, this is quite a rebound too. The accepted offers on North St Paul homes are closer to their asking price this year too coming in at an average of 95% of the listed price.
The housing inventory for sale in North St. Paul is low as we begin 2015. This creates a bit of a seller’s market, giving home seller a slight edge when negotiating with a buyer. With continued low interest rates, home buyers are in the market for their dream homes despite the winter weather. North St. Paul home owners considering selling in 2015 and hoping to get the most leverage from the improved market should consider listing their homes as soon as possible before the increased competition in the spring.
READY TO MAKE A MOVE? Let me be your professional guide. If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Teri Eckholm of Boardman Realty, a call or visit my website for a FREE Home Buyer Success Guide or FREE Home Value Report. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District. Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
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