Maplewood MN homes for sale

Maplewood, MN Real Estate Market Update – November 2008

Maplewood borders St. Paul on the Northeast side, and is about ten minutes to downtown St. Paul. Whether you are looking for a quaint neighborhood to live in or a big city atmosphere, Maplewood has the best of both worlds! Aside from all the great restaurants and shopping, Maplewood is home to 3M Headquarters, St. John’s Hospital, and the Maplewood Mall.

Let’s first look at October of 2007 compared to the month of October in 2008. There were 57 properties put onto the market in Maplewood, down 24% from 75 new listings last October. Closed sales are up 85.7% from 14 to 26 closings in October. The average sales price decreased 15.7% from last October, going from $242,778 to $204,556. The percent of original list price received at the time of sale in Maplewood was 95.4%, an increase of 5.8%. The average days on the market until sale decreased 1.2% from 115 to 114 days. The overall active inventory level for single family homes decreased 7% to 172 homes in October 2008. The townhome and condo inventory level is down 11.7%, with 91 properties on the market in October of 2008.

Now we’ll take a look at January through October of 2007 compared to January through October of 2008. There has been an 18.3% drop in new listings put onto the MLS in Maplewood. Closed sales are down 6%, from 334 to 314 closings. The average sales price is down 9.7% from $229,040 to $206,843. The percent of original list price received at the time of sale is down 1.7%, from 94.5% to 92.9%. The average days on the market until sale are up 9.4% from 134 to 146 days.

Looking at the numbers, one thing that stands out is the percent of original list price received at the time of sale. Even though this number has gone down over the last year 1.7%, it’s still at 92.9% of the original list price! This is still a good number. Closed sales also haven’t seen too much of a decrease which is promising for Maplewood!

Overall, this community in the Twin Cities real estate market is surely still a great place for buyers to choose. With a number of properties for sale on the MLS, and prices still relatively low, real estate buyers really are being afforded some outstanding choices.