November 2015 St. Louis Park Real Estate Market Update

Posted by Kris Lindahl on Friday, November 20th, 2015 at 5:34pm.

Nothing much has changed in the St. Louis Park real estate market since last month’s update except that the inventory of available homes has shrunk even more. New listings that come on the market are selling quickly and it appears that we’re still in a seller’s market.

New Listings of Houses for Sale in St. Louis Park

The number of new listings to hit the St. Louis Park real estate market decreased again this month, nearly 22 percent. Last month’s drop brought our inventory of available homes to a 2.4 month supply. This month’s sits at 2.2 months, which is a decrease of 43.6 percent over this time last year.

As of today, there are 213 homes for sale in St. Louis Park, ranging in price from $134,900 to $599,000.

Median Sales Price

The median sales price of a St. Louis Park home increased 6.1 percent over this time last year and now sits at $234,760. This is down more than $5,000, however, on a month-to-month basis.

This is the third consecutive month of price drops, so perhaps the market is cooling off a bit? We’ll let you know when we begin to see trends in other areas of the statistics.

Additional St. Louis Park Real Estate Market Notes

St. Louis Park homes for sale are spending, on average, 41 days on the market which is down 24 percent over last year’s figure. Last month they remained on the market 44 days, so homes are selling quicker on a month-to-month basis as well.

St. Louis Park homeowners are receiving 98.2 percent of their original list price when their homes sell.

Have a great St. Louis Park weekend!

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