Is Saint Paul, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Saint Paul has remained a Seller's Market.
Key Takeaway
Saint Paul is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Saint Paul, MN
How much do homes in Saint Paul, MN cost?
Median Sold Price
$282,619
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Saint Paul have sold for 2.8% more than they did a year ago.
Summary: The median home sold price in Saint Paul was $282,619 in May 2024, up 2.8% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $168K | $160K | -4.8% |
| 2 Bedrooms | $229.9K | $240K | +4.4% |
| 3 Bedrooms | $279K | $290.3K | +4.1% |
| 4 Bedrooms | $333.3K | $340.4K | +2.1% |
| 5+ Bedrooms | $430.5K | $407K | -5.5% |
Summary: Saint Paul housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.8%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes decreased by 5.5%.
Median Sold Price Compared To Nearby Cities
| Mendota Heights | $500K | $525K | +5.0% |
| Falcon Heights | $385K | $404K | +4.9% |
| West Saint Paul | $296.6K | $307K | +3.5% |
| Saint Paul | $274.8K | $282.6K | +2.8% |
| Lilydale | $530K | $390K | -26.4% |
Housing Supply in Saint Paul, MN
How many homes are available in Saint Paul, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 827 | 930 | +12.5% |
Summary: The Saint Paul real estate market had 930 homes for sale in May 2024, a 12.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 85 | 98 | +15.3% |
| 2 Bedrooms | 201 | 209 | +4.0% |
| 3 Bedrooms | 321 | 341 | +6.2% |
| 4 Bedrooms | 163 | 203 | +24.5% |
| 5+ Bedrooms | 57 | 79 | +38.6% |
Summary: The Saint Paul housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.3%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 24.5%, and 5+ bedroom homes increased by 38.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 235 | 252 | +7.2% |
Asking Price vs. Sold Price
76 Homes Were Sold
Under Asking
50 Homes Were Sold
At Asking
126 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Saint Paul, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 252 homes were sold or pending in Saint Paul in May 2024, up by 7.2% month-over-month. Of the 252 sold homes, 30% were sold under asking, 20% were sold at asking, and 50% were sold over asking.
Days on Market for Saint Paul, MN
How long does it take to sell a home in Saint Paul, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 23 Days | 24 Days | +6.9% |
Summary: Homes in Saint Paul had an average of 24 days on market in May 2024, up by 6.9% compared to last year.
Breakdown of Home Sale Times
180 Homes Were Sold
Under 30 Days
55 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Saint Paul are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 252 homes were sold in Saint Paul; 71% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
