St. Cloud Minnesota Real Estate Boom

In the St. Cloud area, real estate statistics are reported via the St. Cloud Area Association of Realtors. The recent release of the latest findings for August prompted an article by the SC Times which specified the most prosperous areas of the St. Cloud region. Overall, new residential real estate listings increased just shy of eleven and a quarter percent during the month of August. During August alone, two hundred and eight new listings were provided in the area, bringing the year to date new listings percentage to just over nine percent. Large portions of these new listings were in Sartell. The town has seen three hundred and seventy one new listings over the course of this year; this figure is up approximately twenty five percent from the roughly the same date in 2013.

Sales prices were also on the increase in August. The average sales price for the month was up nearly thirteen and a quarter percent, coming to rest at one hundred and eighty three thousand, eight hundred and twenty five dollars. Year to date thus far for 2014, the average sale price is up ten percent to one hundred and sixty eight thousand, three hundred and seventy five dollars. Finally, the median sales price in August was settled at one hundred and fifty nine thousand dollars; this figure is the highest for any month since the summer of 2008.

!The number of closed sales continued to grow as well. For the third consecutive month for the St. Cloud area, closed sales numbers increased, continuing to rest at a higher number than the area has seen since the summer of 2007. In August, the area saw one hundred and sixty six closed sales; this is on top of a very successful July and June. In June, one hundred and sixty nine sales were closed; in July, the same figure fell only to one hundred and sixty eight. Specifically, to Sartell, the number of closed sales increased almost thirty percent; in total thus far in 2014, two hundred and thirty nine homes have been closed, through the first eight months of the year alone.

!For more real estate news, visit Frank Jermusek’s LinkedIn profiles, and .org site.