The housing market has made a significant turnaround in the community of Maplewood, MN in the past few years. Similar to other communities in the Minneapolis/St. Paul metro, this Ramsey County city has real estate sales statistics showing a rebound. New Listings were down and closed sales were down from 2013 but the average sold price was up by 9% to over $200K. Just three years ago the average price of a home was over $50K less at $146,957. This reflects a rebound of 36.7% in just three years!
Back in 2011, Maplewood homes were bringing in an average price per square foot of $82 which was similar to many other communities in the northeast Minneapolis/St. Paul area at that time. In 2014, Maplewood home sellers saw the price per square foot rise over 29% to $106 on average.. Sellers are getting around 96% of their asking price in 2014 and homes are selling much more quickly than a few years ago. The average time on the market to sell a home was up slightly from 2013, taking an average of 78 days to sell. But compared with the 164 average days on market (DOM) statistic in 2011, Maplewood is in very good shape. These statistics show that the housing market in Maplewood has recovered quite a bit in the past few years. A limited housing inventory continues to push prices up slightly and keeps homes selling at a somewhat brisk pace. Overall, the Maplewood real estate market appears to be much stronger and pretty balanced with a slight edge to sellers if a home is well priced and properly prepared to list.
Comments (2)Subscribe to CommentsComment