North St. Paul home owners are smiling almost as big as the world’s largest year round snowman that hangs out in the center of town along Highway 36. This eclectic, vibrant community is actually located more to the east than north of the Minneapolis/St Paul metro and has been experiencing continued improvement in the real estate market. The number of new listings and closed sales significantly improved for the fourth year in a row. The average sales price increased in 2015 to over $176,000 and the price per square footage rose from $101 to $109. This is a huge increase from just 4 years ago when the average sales price of a home in North St. Paul was under $130K and the average sold price per square foot just $80. The average days-on-the-market statistic has also dropped significantly for the fourth year in a row to just 65 days. This is half the time it took to sell a home in 2011 when the average time to sell a home was 130 days! The accepted offers on North St Paul homes are closer to their asking price this year too coming in at an average 96.6% of the listed price.
The housing inventory is low across the Twin Cities metro and North St. Paul is no exception as we begin 2016. 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 and a mild Minnesota winter, home buyers are in the market for their dream homes now. North St. Paul home owners considering selling in 2016 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.
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