North Oaks Real Estate Market Update

North Oaks, located north of St. Paul, is a private community featuring many luxury homes. Like most of the luxury real estate markets in the Twin Cities, it too has taken a little of a beating this year.

According to recent statistics for 2010, closed sales for the year are up 26.9%, while listings are down almost 30%. While this might sound like welcome news, the fact of the matter is prices have suffered and thus is most likely the reason for increased home sales. Both Median and Average Sales prices are down between 12-14%. Of course, North Oaks, being a prestigious community is holding its home values better than other parts of the Twin Cities.


North Oaks MN Real Estate Market Update

Average days on the market is pretty high, currently around 234 days, but that is to be expected for expensive homes. Another important number is the Housing Supply Index which falls in around 16 months. This means that it would take approximately 16 months to sell all the current inventory in North Oaks.

If you have further questions about the real estate market in North Oaks, MN, please feel free to contact me!

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