Last week, to the delight of many fans, St. Paul Mayor Chris Coleman and Minnesota United owner Bill McGuire announced plans for a new stadium to house the Major League Soccer team at the northwest corner of Snelling Ave. and Interstate 94. The nearly 20,000-capacity stadium will be hosted by the Hamline-Midway neighborhood. As such, it’s a good time to look into the jack-o-lantern and take the pulse of the local housing market. Think of this as the “before!”
The price per square foot of traditional, single-family homes is $123 in Hamline-Midway and a very similar $122 in all of St. Paul. The neighborhood has seen home prices both above and below those of the city, but the trend is very comparable and consistent over time.
Market time, however, was scary low in Hamline-Midway; but it’s also quite low in the city as a whole. With home field advantage, properties in the neighborhood see offers in an average of 25 days, compared to 36 for the city. Both areas saw that figure decrease by double-digit percentages compared to last year. That reflects exceptionally strong buyer demand combined with persistently low supply levels.
Sellers in Hamline-Midway are netting (soccer reference!) a monster (Halloween reference!) 100.0 percent of their last price at the time of sale. That compares to 99.6 percent in the entire city of St. Paul.
Rates are still frighteningly low and prices are below their previous peak, offering consumers scary good deals to score the home of their dreams.
Author:Brad Smith Phone: 651-755-5232 Dated: October 26th 2015 Views: 488 About Brad: Brad Smith has enjoyed a thriving 10-year career as a Realtor using his past business experiences. A...
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Twin Cities Specialists is part of the Re/Max Advantage Plus team, where together we are stronger in achieving our clients’ goals. What sets us apart is our use of technology, our personal and professional service, and our desire to be the best at what we do as your community expert. In fact, we will help you find a community expert in your area, if we don't have one for you, just ask. TEAM LEADER & Sales Manager for TC Specialists is LISA HANDLEY - 612-390-6520. Lisa is a native of McIntosh, Minnesota, moved "south" with her family, to where it is "warmer" and, as an empty-nester, pursued her long-time goal of becoming a top real estate agent. Lisa is a person who cares about people and will do what it takes to see others achieve their goals. Ultimately, this is what prompted her to start her own team. The Twin Cities Specialists consists of service-oriented agents and other industry professionals that will do and be the best for our clients through the entire buying and selling process. TC Specialists will be there for our clients from the very early stages of planning, pre-approvals, showings, staging, photography, negotiations, and all the way through the closings. Our mission is to treat our clients the way we would want our own families to be treated, with kindness, respect and service that goes above and beyond.