St Paul Duplex Market Favors Sellers

Last week we took a closer look at December’s duplex, triplex, and fourplex sales in the city of Minneapolis. This week, it’s St Paul’s turn to go under the microscope.

The city of St Paul saw 25 duplex, triplex and fourplex sales close out the last month of 2023. On average, those properties traded hands at an average sales price of $366,297. That average trailed only April and July for the year’s highest. The high seller was a 2022 build 9 bedroom, 10-bathroom triplex in the St Anthony Park neighborhood of St Paul, which closed at $1,220,000. The value of the month was a 3 bedroom, 2 bath house conversion in the city’s North End neighborhood, which generated a final sales price of $171,000.

The Thomas-Dale neighborhood (Frogtown) lead the month with seven sales. The Dayton’s Bluff, Summit-University and Payne-Phalen neighborhoods came in second with three sales in each.

St Paul saw a total of 49 active listings for the month; just 13 of which were new to the market. Payne-Phalen leads the way here, contributing five of the new market opportunities.

While the average days on the market for the month ticked up to 45 from November’s 34, with just a two-month supply of inventory St Paul nonetheless remains very much a duplex sellers market.

If you’re thinking of selling your St Paul property, remember, the spring market starts in February. Feel free to give me a call if you’d like to know what your property’s worth and what it would take for you to be ready to sell.