Any city that can boast having the world’s largest snowman smiling down on commuters as they travel along Highway 36 has to have some appeal, right? In 2011, North St Paul, a quaint community located east of Minneapolis/St Paul metro, saw closed sales drop rise over 25%. New Listings are down by over 12% but not enough to push inventory levels too high. The average sales price did take a tumble to $129,117 and likewise the price per square footage dropped to $80 but this is to be expected as the area works through all the lender mediated and foreclosed homes. The average sales price is down roughly 12% and combined with similar drop for the past two years it appears that this eastern Ramsey County community is still in the process of moving toward a more stable market. The average days-on-the-market statistic is up a tad but at 129 DOM there is no need to be concerned. Sellers that reside in North St. Paul are not receiving their asking price and are accepting offers and average of over 10% lower than asking. With closed sales significantly up and lower inventory, it appears that the North St. Paul real estate market did do okay in 2011 but hopefully prices will start to rebound a bit more in 2011.
For additional details on the inventory levels in North St Paul MN at the end of 2011, Click HERE.
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