Maplewood Minnesota has many affordable opportunities for the first time homebuyer. A first home could be a single family 1950’s bungalow or rambler or a newer townhome. Affordable homes are located in the north section of the city near Maplewood Mall or farther south near the 3M complex.Whether a foreclosed home or a traditional seller with the home priced to sell, first time buyers have many options right now in Maplewood.

 

In the eastern Ramsey County community of Maplewood, MN real estate sales statistics were similar to many other communities in the Minneapolis/St. Paul metro. New Listings were down, closed sales up and average price sold down from the similar time period in 2010. New listings were down nearly 15% from 801 in 2010 to 684 in 2011, while closed sales were up by nearly 8%. The average sales priced dropped by a whopping 14% to $146,957, down from $170,959 in 2010. Homes are bringing in an average price per square foot of $82 which is similar to other communities in the northeast Minneapolis/St. Paul area but still down a bit from $95/sq ft that homes in Maplewood were getting on average in 2010.  Like most other north and east metro suburbs, sellers are getting around 90% of their asking price; but at 88.8% this average is a bit less than in other areas. The average time on the market to sell a home rose quite a bit from 140 days on the market in 2010 to 164 in 2011. Again the DOM statistic is comparable to other surrounding neighborhoods. While these changes look alarming, it is really just a correction as the foreclosures and other lender mediated homes continue to work their way out of the Maplewood real estate market. It is an important step in toward the market becoming balanced.