St. Paul Duplex Sales Jump 60% as Inventory Hits 10-Year High
St Paul is nonetheless home to approximately one-fourth of the metro’s duplexes, triplexes and fourplexes. That means, like Minneapolis, its market for small multifamily properties has an enormous impact on sales statistics across the seven-county metro area.
In July, St Paul, like Minneapolis, saw more active listings than in any other month during the last 10 years. While the 157 active listings a nearly 4% uptick over June’s number, it was nearly a 32% increase from one year ago.
Don’t despair. There was some good news. The number of new listings saw a small decline, dropping from 57 in June to 54 in July. Better yet, sales jumped 60% year over year, with 32 duplexes, triplexes and fourplexes selling compared to just 20 in July, 2025.
The Payne-Phalen and Summit-University neighborhoods lead the way with 9 new listings each. Merriam-Park-Lexington finished third with 6. A Summit-University 5 bedroom, 4 bathroom fourplex set the new listing high mark at $685,000, while a 3 bedroom, 2 bathroom house conversion in the Thomas-Dale neighborhood was the month’s value-add opportunity at $200,000.
Successful sellers netted an average of 98.5% of their original asking price. The month’s average sales price finished at $393,544 with a median of $359,500. Properties spent an average of 40 days on the market before selling. The median time on market of 32 days was better, but still above June’s 19 and last July’s 30. When factoring in prior time on the market, the average more than doubled to 67 and median swelled to 50.
A Merriam Park/Lexington-Hamline neighborhood 8 bedroom, 4 bathroom woodwork-laden fourplex topped the market at $754,000. A 2 bedroom, 2 bathroom house conversion duplex in the Thomas-Dale neighborhood was the month’s rehab opportunity at $105,000. Those two neighborhoods also saw the most transactions in July, at 5 each.
At our current sales pace, if no new properties came on the market from today forward, we would be out of properties to sell in St Paul by January. A 5-month supply has traces of a seller’s market, but in this instance, is likely balanced, where for now, buyers and sellers are on equal footing.
Things usually pick up a bit in the duplex market as we move into fall. Let’s hope it that continues to be the case.