Twin Cities Suburbs Offer Math Excercise

Every now and then the data the MLS aggregates differs from mine. March was one of those months for the Twin Cities suburbs.

The numbers were so wildly different for the month that we’re going with mine simply because I can back them up.

March saw 11 duplexes, triplexes and fourplexes sell in the 7 county metro area outside the cities of Minneapolis and St Paul. Hopkins topped all the suburbs, contributing 3 to the tally.

The high seller was a 6 bedroom, 3 bathroom turnkey side by side duplex in that city, which closed at $540,000. The suburban value-add opportunity for March was a South St Paul 5 bedroom, 2 bathroom house conversion in need to some TLC. This was reflected in a sales price of $150,500.

The average suburban sales price for the month was $386,954.

There were 18 suburban listings that hit the market in March. Columbia Heights chipped in 3, with Bloomington and West St Paul each adding two.

A 9 bedroom, 5 bathroom fourplex in North St Paul was new to the market at $650,000. A 5 bedroom, 2 bathroom West St Paul duplex helped up the average list price by being the most affordable new offering at $350,000.

The MLS reports the suburbs currently have just a 2 month supply of inventory. In other words, the suburbs remain very much a seller’s market.

At least by my calculations anyway.