After a full year in the pandemic, how is the spring 2021 real estate market? Like so many other industries, the housing market was not exempt from Covid-19’s effects. Remarkably, the residential real estate market (including existing homes and new construction) has flourished over the last twelve months. Sales are up, prices are appreciating, and more new homes are being built. The housing market has been a pillar of strength in an otherwise slowly recovering economy. New listings and showings are up since last year, and homes in St. Paul receives 6 offers on average and sells in around 31.5 days. This is down from an average of 41 days on the market in 2020 and 45 days in 2019! The average sale price of a home in St. Paul was $238K last month, up 6.3% since last year. The average sale price per square foot in St. Paul is $164, up 10.4% since last year. The market is clearly still in the seller’s favor. Home prices continue to rise while interest rates remain low and home buyers continue to chase opportunities to buy a house. Buyers who wait for price reductions or open houses will miss out. We have never seen anything like the current housing market, but we hope it is here to stay! Stay tuned for upcoming listings on the Village on Rivoli and across Scattered Sites this Spring 2021.