Frank Jermusek reports on the St. Cloud Minnesota real estate boom, and how both listings and prices have increased by a great number.

1. 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.