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Posts Tagged ‘St. Paul’

Weekly Real Estate Update
February 3, 2014

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Optimistic housing start stats encourage rumors that 2014 should be another year of recovering. Activity may not be volatile enough to garner bold headlines, which suits residential real estate markets just fine. The steady-as-she-goes pace and quietly consistent good news should bring out a few more previously underwater sellers to list their homes. Keep an eye out for fresh inventory and keen interest from hungry buyers.

In the Twin Cities region, for the week ending January 25:

• New Listings decreased 11.9% to 914
• Pending Sales decreased 13.0% to 663
• Inventory decreased 8.6% to 12,050

For the month of December:

• Median Sales Price increased 13.1% to $190,000
• Days on Market decreased 20.4% to 86
• Percent of Original List Price Received increased 1.0% to 94.7%
• Months Supply of Inventory decreased 15.6% to 2.7

As reported by the Minneapolis Area Association of Realtors

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Weekly Real Estate Update
January 27, 2014

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Some say the big story of 2014 will be higher interest rates, some say it will be more inventory while others say it will be less foreclosure activity. The truth is likely to be an amalgamation of all of the above. The year 2013 was marked by variable but steady job growth, a good leading indicator of market activity. While consumers may be uneasy about higher rates, economic improvements can potentially offset any negative impact on affordability. The seasoned agent will recall a time when plenty of consumers were vying for properties when rates were double and triple what they are now.

In the Twin Cities region, for the week ending January 18:

• New Listings decreased 8.3% to 989
• Pending Sales decreased 24.8% to 591
• Inventory decreased 9.5% to 11,918

For the month of December:

• Median Sales Price increased 13.1% to $190,050

• Days on Market decreased 20.4% to 86
• Percent of Original List Price Received increased 1.0% to 94.7%
• Months Supply of Inventory decreased 15.6% to 2.7
As reported by the Minneapolis Area Association of Realtors

Interested in buying or selling real estate?

Contact the Walsh Sisters. We’d love to help you make your next move.

Ellen and Kate Walsh
612-220-3304
emwalsh@cbburnet.com

Coldwell Banker Burnet

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Weekly Real Estate Update
September 16, 2013

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A pendulum spends little time in the middle. It tends to over swing center and hang out at the extreme before changing directions. Apply that to housing. Two or three years ago, almost no one would have foreshadowed concern over affordability, yet that’s what some are cautioning against in an environment of rising prices and interest rates. It would take further increases to truly rattle confidence and sentiment, but it’s wise to monitor the market recovery’s dual-edged saber.

In the Twin Cities region, for the week ending September 7:

• New Listings increased 18.6% to 1,511
• Pending Sales decreased 4.5% to 857
• Inventory decreased 8.9% to 15,891

For the month of August:

• Median Sales Price increased 16.9% to $207,900
• Days on Market decreased 34.0% to 70
• Percent of Original List Price Received increased 2.0% to 97.0%
• Months Supply of Inventory decreased 18.2% to 3.6

As reported by the Minneapolis Area Association of Realtors

Interested in buying or selling real estate?

Contact the Walsh Sisters. We’d love to help you make your next move.

Ellen and Kate Walsh
612-220-3304
emwalsh@cbburnet.com

Coldwell Banker Burnet

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Weekly Real Estate Update
June 17, 2013

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Sellers are finally starting to catch up with strong buyer demand, but at the rate that homes are being snatched up, the influx of new listings will need to be more than a short-term addition. Rising home prices, fewer days on market and more homes being sold all support a positive public opinion about real estate. The following local stats shed more light on the current market.

In the Twin Cities region, for the week ending June 8:

• New Listings increased 23.2% to 1,951
• Pending Sales increased 12.0% to 1,329
• Inventory decreased 21.7% to 14,569

For the month of May:

• Median Sales Price increased 14.8% to $194,000
• Days on Market decreased 29.8% to 87
• Percent of Original List Price Received increased 2.5% to 97.0%
• Months Supply of Inventory decreased 30.6% to 3.4

As reported by the Minneapolis Area Association of Realtors

Interested in buying or selling real estate?

Contact the Walsh Sisters. We’d love to help you make your next move.

Ellen and Kate Walsh
612-220-3304
emwalsh@cbburnet.com

Coldwell Banker Burnet

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Housing Supply Overview
February 2013

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Let’s review what’s transpired over the past 12 months. For the 12-month period spanning March 2012 through February 2013, Pending Sales in the Twin Cities region were up 14.8 percent overall. The price range with the largest gain in sales was the $350,001 to $500,000 range, where they increased 42.7 percent.

The overall Median Sales Price was up 13.3 percent to $170,000. The property type with the largest price gain was the Condo segment, where prices increased 13.8 percent to $108,000. The price range that tended to sell the quickest was the $190,001 to $250,000 range at 103 days; the price range that tended to sell the slowest was the $1,000,001 and Above range at 245 days.

Market-wide, inventory levels were down 31.6 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 28.9 percent. That amounts to 3.0 months supply for Single- Family Detached homes and 2.4 months supply for Townhomes and Twinhomes. See the PDF below for the full report.

HSO Feb 2013

As reported by the Minneapolis Area Association of Realtors

Interested in buying or selling real estate? Contact the Walsh Sisters.
We’d love to help you make your next move.

Ellen and Kate Walsh
612-220-3304
emwalsh@cbburnet.com

Coldwell Banker Burnet

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Ready to buy or sell a home?
Call the sister team. We’d love to help you move forward.

Ellen and Kate Walsh
Coldwell Banker Burnet
612.220.3304
emwalsh@cbburnet.com

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Weekly Real Estate Update
February 25, 2013

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Here’s an oldie but goodie: All Real Estate is Local. We’ve all heard it. This is why industry insiders don’t pay much attention to national housing statistics. The national housing market is just an agglomeration of local housing markets. You don’t grab an umbrella in Miami based on the weather forecast in Seattle. So why would someone in San Francisco base a home sale or purchase decision on market data from Boston? Here’s your data for your local housing market.

In the Twin Cities region, for the week ending February 16:

• New Listings decreased 4.9% to 1,196
• Pending Sales increased 7.9% to 916
• Inventory decreased 31.0% to 12,309

For the month of January:

• Median Sales Price increased 14.3% to $160,000
• Days on Market decreased 24.1% to 107
• Percent of Original List Price Received increased 2.5% to 93.5%
• Months Supply of Inventory decreased 40.0% to 3.0

As reported by the Minneapolis Area Association of Realtors

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Ready to buy or sell a home? Call the sister team.
We’d love to help you move forward.

Ellen and Kate Walsh
Coldwell Banker Burnet
612.220.3304
emwalsh@cbburnet.com

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Weekly Real Estate Update
December 26, 2012

iStock_000000789038XSmallAs we celebrate with family and friends this holiday season, we can take comfort in the fact that housing markets across the country are reaching their own holiday milestones. Even though the trend is our friend, recovery can often feel piecemeal: fewer foreclosures here, improved absorption rates there and lower days on market over there. But, overall, we’ve struck a positive stride, and momentum has a way of accumulating. Here’s a peek at the week’s housing market data.

In the Twin Cities region, for the week ending December 15:
• New Listings decreased 3.6% to 773
• Pending Sales increased 10.1% to 762
• Inventory decreased 28.9% to 13,630

For the month of November:
• Median Sales Price increased 16.2% to $172,000
• Days on Market decreased 26.4% to 103
• Percent of Original List Price Received increased 3.6% to 94.2%
• Months Supply of Inventory decreased 39.5% to 3.4

As reported by the Minneapolis Area Association of Realtors

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Ready to buy or sell a home? Call the sister team.
We’d love to help you move forward.

Ellen and Kate Walsh
Coldwell Banker Burnet
612.220.3304
emwalsh@cbburnet.com

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Housing Supply Overview
November 2012

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There was a lot to be thankful for this November. Home buyers can be thankful for ultra-low mortgage rates while sellers can be thankful for rising prices and strong demand. For the twelve-month period spanning December 2011 through November 2012, Pending Sales in the Twin Cities region were up 18.8 percent overall. The price range with the largest gain in sales was the $350,001 to $500,000 range, where they increased 41.7 percent.

The overall Median Sales Price was up 9.3 percent to $165,000. The property type with the largest price gain was the Condo segment, where prices increased 9.4 percent to $105,000. The price range that tended to sell the quickest was the $190,001 to $250,000 range at 109 days; the
price range that tended to sell the slowest was the $1,000,001 and Above range at 234 days.

Market-wide, inventory levels were down 29.4 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 26.3 percent. That amounts to 3.5 months supply for Single- Family Detached homes.

As reported by the Minneapolis Area Association of Realtors

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Ready to buy or sell a home? Call the sister team.
We’d love to help you move forward.

Ellen and Kate Walsh
Coldwell Banker Burnet
612.220.3304
emwalsh@cbburnet.com

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Weekly Real Estate Update
November 5, 2012

Over the course of the year, we’ve cleverly devised new tactics each week to communicate just how far the market has come. This week is no exception. Most level-headed housing advocates agree that lower residential vacancy rates are a good thing. Well, chalk one up for level-headed housing advocates, because Reuters just reported that the U.S. residential vacancy rate fell to 1.9 percent in the third quarter. That’s the lowest level in seven years. It’s just the latest installment of overwhelming bullish housing news.

In the Twin Cities region, for the week ending October 27:

• New Listings decreased 3.0% to 1,037
• Pending Sales increased 11.1% to 914
• Inventory decreased 28.8% to 15,700

For the month of September:

• Median Sales Price increased 12.7% to $174,625
• Days on Market decreased 28.5% to 101
• Percent of Original List Price Received increased 4.1% to 94.8%
• Months Supply of Inventory decreased 38.8% to 4.1

As reported by the Minneapolis Area Association of Realtors

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Ready to buy or sell a home? Call the sister team.
We’d love to help you move forward.

Ellen and Kate Walsh
Coldwell Banker Burnet
612.220.3304
emwalsh@cbburnet.com

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Weekly Real Estate Update
September 24, 2012

On September 13, the Federal Reserve announced its third round of quantitative easing (QE3). This time, it took the form of $40 billion in mortgage-backed securities (MBS) purchases each month. The goal is to bolster the stock market by diminishing returns on MBSs. This will make equities more attractive, which will provide capital to corporations, who should in turn hire and therefore spur consumer spending. If successful, that job creation and spending will resonate into housing consumption and reinvestment. New jobs fuel housing demand which alleviates underwater homeowners and supports home prices. Here’s how we rounded out the week.

In the Twin Cities region, for the week ending September 15:
• New Listings increased 4.0% to 1,360
• Pending Sales increased 18.4% to 978
• Inventory decreased 29.5% to 16,479

For the month of August:
• Median Sales Price increased 14.8% to $178,000
• Days on Market decreased 23.9% to 107
• Percent of Original List Price Received increased 4.2% to 95.1%
• Months Supply of Inventory decreased 41.5% to 4.2

As reported by the Minneapolis Area Association of Realtors

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Ready to buy or sell a home? Call the sister team.
We’d love to help you move forward.

Ellen and Kate Walsh
Coldwell Banker Burnet
612.220.3304
emwalsh@cbburnet.com

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Parade of Homes (New Homes)
September 8-30

Remodelers Showcase
September 28-30

Homes open Thursday through Sunday, noon to 6pm

There are very few new homes on the Parade this year compared with other years. There are far more remodels. This is not surprising given the real estate marketplace of late.

We’re featuring these two St. Paul remodels because we recently had clients close on their new home in St. Paul and they plan to do some remodeling. They are seeking to make the new space blend and match the original period of the house. This is always a good way to approach a remodel and addition; big differences in the feel of spaces will hurt sellers when it comes time to sell.

839 Osceola Avenue, St. Paul

Here is a description of this project from the Parade of Homes website: “This kitchen and bath remodel in a historically significant house in Saint Paul’s Summit Hill neighborhood illustrates how to remodel the heart of a house without losing its soul. Next Level Renovation, with designer David Heide, replaced the 1980’s kitchen in this 1890 residence with a space that features period sensibilities and the latest amenities. The original house was designed by Cass Gilbert, the turn-of-the-twentieth-century architect, notable for his classic homes and other buildings, including the State Capitol in Saint Paul.”

683 Portland Avenue, St. Paul

From the description on the Parade of Homes website: “Come and see how the convenience of a modern kitchen blends seamlessly with a stately home in the historic Summit Avenue neighborhood of St. Paul. The three-story addition also provides an art studio, main-floor laundry/mud room, and a cozy wine cellar with tasting room. In collaboration with architect David Herreid, McDonald Remodeling proves again that you can have it all: character, style, and convenience in your existing home!”

Contact us for more information if you are considering a remodel or an addition and would like to discuss keeping your home and design as salable as possible. Visiting the Remodelers Showcase homes is a good way to meet remodelers and see their work in person.

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Kate and Ellen Walsh
Coldwell Banker Burnet
612.220.3304
emwalsh@cbburnet.com

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A rental building in Minneapolis and the patio created by the artist tenant

A creative environmental message in Saint Paul, MN

A torn lace curtain in a window of a home in St. Paul, Minnesota

Learn about the WordPress Weekly Photo Challenge here.

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Weekly Real Estate Update
August 6, 2012


For decades now, the real estate industry has been both humbled and invigorated by the strong and direct relationship between the labor and housing markets. As goes the economy, seemingly so goes housing. That relationship was especially clear after the 2007 recession. The economy added 163,000 jobs in July, the highest figure since February. Our economy is growing, but not as quickly as many would like. Meanwhile, inventory drops and surging buyer demand from renters and first-timers are anchoring home prices and giving sellers more power than they’ve had in years, in many cases.

In the Twin Cities region, for the week ending July 28:
• New Listings increased 8.3% to 1,430
• Pending Sales increased 20.9% to 1,149
• Inventory decreased 30.5% to 17,103

For the month of June:
• Median Sales Price increased 10.2% to $178,600
• Days on Market decreased 22.0% to 113
• Percent of Original List Price Received increased 4.1% to 95.1%
• Months Supply of Inventory decreased 42.6% to 4.6

Click on any graph below to enlarge it.

As reported by the Minneapolis Area Association of Realtors.

For additional information on the market
or buying and selling a home, contact us.
We’re friendly, fun and professional real estate agents!

Ellen Walsh
emwalsh@cbburnet.com
612.220.3304

Kate Walsh
info@designhouse9.com
612.220.3309

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Weekly Real Estate Update
July 16, 2012


With the second quarter now in the books, seasonal peaks and valleys should start to become apparent. Even if activity begins to slow for the remainder of 2012, gains are still likely when compared to the same time last year. Housing demand has been strong, supply levels have been falling and prices are turning a corner in many local markets. Keep a watchful eye toward market times, percent of list price received at sale and months of supply.

In the Twin Cities region, for the week ending July 7:
• New Listings decreased 21.9% to 970
• Pending Sales increased 24.6% to 892
• Inventory decreased 30.8% to 17,134

For the month of June:
• Median Sales Price increased 10.4% to $179,000
• Days on Market decreased 22.0% to 113
• Percent of Original List Price Received increased 4.0% to 95.1%
• Months Supply of Inventory decreased 44.0% to 4.5

As reported by the Minneapolis Area Association of Realtors

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Weekly Real Estate Update
July 9, 2012


Summer heat waves roll across the north land as election season also heats up. Meanwhile, as the mercury and partisan rhetoric both escalate, residential real estate continues to show signs consistent with market recovery. For the current round of numbers, both buyer and seller activity levels were higher than last year at this time. Buyers have been taking advantage of historic affordability levels for some time, but renewed seller confidence is a more recent development and some would even call it an encouraging omen, as long as supply levels don’t exceed a prior apex.

In the Twin Cities region, for the week ending June 30:
• New Listings increased 0.1% to 1,414
• Pending Sales increased 20.4% to 1,194
• Inventory decreased 31.0% to 17,417

For the month of June:
• Median Sales Price increased 10.4% to $179,000
• Days on Market decreased 22.0% to 113
• Percent of Original List Price Received increased 4.0% to 95.0%
• Months Supply of Inventory decreased 44.7% to 4.4

As reported by the Minneapolis Area Association of Realtors.

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Relief Circles by Louise Harris

I came across this art and met the artist, Louise Harris, at the “Fall into the Arts Festival” in Edina. I was first struck by the three-dimensional aspect of the artwork. I then learned they were made from recycled furnace filters. Talk about creativity and vision!

Can you see the undulating waves of the smaller circles over the larger circles in this piece? I loved both of these pieces when I saw them.

Here’s a sampling of her smaller works. Ms. Harris is producing unique, beautiful and green art; she‘s also donating profits to non-profit organizations around the world. For more information, visit her website:

lhoriginals.com – The artwork of Louise Harris

Edina Fall Into the Arts Festival – Sept 8-9, 2012

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Weekly Real Estate Update
May 21, 2012


Houses are just things. Boxes waiting to be filled. In the hands of caring, nurturing citizens, those simple boxes become homes that create memories and fortify communities for generations.

This month, more than 13,000 REALTORS® rallied at the Washington Monument to preserve the American Dream of homeownership. Some components of the dream are being threatened by budget pressures and market realities. But homeownership is very much alive and well, as more than three out of five residencies are owner-occupied in the U.S. Moreover, buyer demand has been impressive throughout the year. As Franklin D. Roosevelt famously stated: “A nation of homeowners is unconquerable.” Our response in 2012: Fill the box!

In the Twin Cities region, for the week ending May 12:
• New Listings decreased 11.8% to 1,485
• Pending Sales increased 18.9% to 1,159
• Inventory decreased 28.3% to 17,761

For the month of April:
• Median Sales Price increased 12.1% to $162,500
• Days on Market decreased 15.1% to 135
• Percent of Original List Price Received increased 3.6% to 93.4%
• Months Supply of Inventory decreased 42.4% to 4.7

Click on charts below to enlarge.

Number of Pending Sales Continue to Increase Each Month

Inventory Levels Continue Their Downward Trend

As reported by the Minneapolis Area Association of Realtors.

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