Como Park Inventory at 3 Year Low – What Buyers and Sellers NEED to Know.

Como Park in St. Paul remains to be one of the hottest areas in Real Estate.  Every home that we have listed as a team has been under contract, often time with multiple offers, within a matter of days.   We can pull some data from the past few years to help us better understand what is happening with regards to the Como Park Real Estate market.

Como Park Homes for Sale:

Como Park Homes for Sale

 

Based on the data provided, Como Park peaked in mid 2011 with single family inventory levels reaching the upper 60’s, then shortly there after begin a gradual decline, with the bottom being mid 2013 (just under 45) and now slowly creeping back up in 2014.  Como Park has always been an attractive area for buyers, and with the buying conditions being so affordable now anything that comes on (within reason) sells.

Como Park Pending Home Sales:

Como Park Pending Sales

Como Park Pending home  sales has been on the rise since it looks like it bottomed out in 2011, with the peak coming to where we are at right now in 2014.  All signs point to this trend continuing for the foreseeable future.

Como Park Closed Homes:

Como Park Closed Sales

Much to be expected, with the Como Park Pending Sales being up, the Como Park Closed sales are up as well.  We are seeing the upward trend continue in all areas of Como Park real estate.

Como Park Months Supply of Inventory:

Como Park Months Supply

Months supply of inventory really can be looked at with regards to how the Como Park Market “Feels.”  We peaked with supply being at its highest in 2011, and as the market conditions improved, Como Park inventory levels dropped as well.  This is what is the cause of multiple offers and homes selling over asking price.  Any area that has a high demand location and low amounts of homes available will create this type of environment.

What should you do if you are planning on selling  in Como Park?

Shawn Korby, KW Realtor 651-442-0829

Shawn Korby, KW Realtor
651-442-0829

 

Hire a Como Park neighborhood expert.  An Como Park area specialist will be able to correctly identify the proper value of your home and help to get you the maximum return.  Often, Como Park Realtors have either other agents or buyers contacting them directly asking about any inventory they have coming up so they can beat out other buyers to the property.  Contact Shawn Korby at 651-442-0829 or [email protected] to speak with a Como Park Area Specialist.

What should you do if you are planning on buying in Como Park?

Contact a Como Park specialist.  A Como Park Buyer Specialist will know if  a home is over-priced or under-priced and can help navigate the challenges of a multiple offer environment.   Como Park Buyer Specialist will also often know about properties before they come on the market.

If you are thinking of buying a Como Park Home or Selling a Como Park home, contact your local specialist Shawn Korby today.

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