Is South Saint Paul, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, South Saint Paul has remained a Seller's Market.
Key Takeaway
South Saint Paul is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Saint Paul, MN
How much do homes in South Saint Paul, MN cost?
Median Sold Price
$285,187
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in South Saint Paul have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in South Saint Paul was $285,187 in March 2024, up 1.9% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170K | $85K | -50.0% |
| 2 Bedrooms | $236.9K | $237.5K | 0.3% |
| 3 Bedrooms | $277K | $290K | +4.7% |
| 4 Bedrooms | $314K | $332.5K | +5.9% |
| 5+ Bedrooms | $353.5K | $322.5K | -8.8% |
Summary: South Saint Paul housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 0.3%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes decreased by 8.8%.
Median Sold Price Compared To Nearby Cities
| Inver Grove Heights | $325.2K | $364.9K | +12.2% |
| South Saint Paul | $280K | $285.1K | +1.9% |
| Saint Paul | $275.2K | $280.1K | +1.8% |
| Newport | $355K | $351.4K | -1.0% |
Housing Supply in South Saint Paul, MN
How many homes are available in South Saint Paul, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 38 | 42 | +10.5% |
Summary: The South Saint Paul real estate market had 42 homes for sale in March 2024, a 10.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 9 | +28.6% |
| 3 Bedrooms | 26 | 24 | -7.7% |
| 4 Bedrooms | 4 | 7 | +75.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The South Saint Paul housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 15 | +36.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Saint Paul, you could pay more than the asking price. 53.3% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in South Saint Paul in March 2024, up by 36.4% month-over-month. Of the 15 sold homes, 20% were sold under asking, 27% were sold at asking, and 53% were sold over asking.
Days on Market for South Saint Paul, MN
How long does it take to sell a home in South Saint Paul, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 37 Days | 18 Days | -52.0% |
Summary: Homes in South Saint Paul had an average of 18 days on market in Mar 2024, down by 52% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in South Saint Paul are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 15 homes were sold in South Saint Paul; 73% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
