The chart was made from numbers from our local MLS for St. Paul, Minnesota for the month of December 2010. The data is deemed reliable but not guaranteed but there are few guarantees in life.
The numbers for December 2010 are predictable. Home prices are usually the lowest in the December of any year and the number of homes sales is the lowest too. That huge inventory that I am still hearing about on the news simply doesn’t exist at least not here.
December is the slow month in these parts for home sales. The number of sales and the number of new listings were lower than they were in December of 2009 yet prices last month were slightly higher. I am going to take that as a small positive sign. With the low but rising interest rates and the fairly low inventory of homes on the market and prices stable but trending upward this might be a good time to sell before the next wave of foreclosures hits the market.
For more local numbers like these please see Local Market Conditions and Home Prices.