Saint Paul, Minnesota Housing Market

What stands out in Saint Paul?

• Homes for sale are up 39% on last year: among the fastest inventory growth of 763 tracked cities. Supply is building fast, which shifts leverage to buyers.

What moves the numbers in Saint Paul?

Saint Paul asking prices per square foot were above the year before in 80% of months since the data starts. Within a year, the cheapest and priciest months differ by about 11.8%. That is bigger than the yearly trend, so timing your purchase matters here. Nothing in Saint Paul's numbers is far from its own normal. Your return comes from the property and the price you negotiate.

Is now a good time to buy in Saint Paul?

The median asking price is 20.7% below its Jun 2023 peak. Per square foot the gap is smaller: 7.7% below the Apr 2025 high. Part of the drop is smaller homes coming to market. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower. Saint Paul prices have risen in 90 of the last 112 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

There is no rush. Prices are still coming down. Watch the homes you like. Come back after they cut. Let the seller move first.

When do Saint Paul prices dip?

Across 9 full years, Saint Paul asking prices ran lowest in November, about 6.1% below the year's average. They peaked in May. The most homes for sale show up in October, about 29% above the yearly average. Shop in October for choice, and expect the softest asking prices in November.

How much can you negotiate in Saint Paul?

For every 100 homes still for sale, 26 are under contract. In 2017–2019 at this time of year it was 71. The rest are still waiting for a buyer. About 1 in 4 sellers has already dropped their price. Each one has learned their first price was too high. Start your offer below their new price.

Saint Paul listings spend a median 41 days on the market. That is 9% longer than a year ago. There are 2,103 homes for sale in Saint Paul. That is 4.0 times the tightest month on record, but below the peak of 2,229. Supply is growing against last year.

What to do about it

• Start in 55101, 55107, and 55120, the softest ZIP codes in Saint Paul: in 55101, 12% of sellers have cut and listings spend a median 80 days on the market.
• Filter for listings older than 60 days with a price cut, and offer below the reduced price.
• Keep your inspection and financing contingencies.

How does Saint Paul compare with other Minnesota markets?

Ranked among the 12 Minnesota markets we track:

• Asking price: 4th cheapest of 12. Saint Paul is at $346,768. Closest: Minneapolis and Burnsville.
• Buyer competition: 4th least competitive of 11. Saint Paul is at 0.26 buyers per home. Closest: Minneapolis and Lakeville.
• Time on market: 3rd shortest time on market of 12. Saint Paul is at a median of 41 days on market. Closest: Maple Grove and Lakeville.
• Price cuts: 3rd most price cuts of 12. Saint Paul is at 25% of sellers cutting. Closest: Moorhead and Lakeville.

What numbers should you underwrite a Saint Paul deal with?

• Price growth to assume — +1.5%/yr. Saint Paul grew 3.5% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Saint Paul grows about 1.5% a year. That is the number to type in. Prices fell 3.9% over the last year. Use it for timing. The five-year rate is the better guide.
• Odds you cut your price to sell — 1 in 4. 25% of Saint Paul listings have cut their asking price. Underwrite your exit below asking.
• Comp on price per square foot — $197/sqft. The typical Saint Paul listing shrank from 2,132 to 1,827 sqft since Jul 2016. So median price hides real growth: 40% per sqft versus 23% on the median. Comp on median price and you will overpay for small homes.
• Competition when you exit — +39%. Homes for sale in Saint Paul are up 39% on last year, so your resale faces more competition than today's comps did.

Read how rent-to-price works and how we read these numbers, then run the numbers on a deal.

What is the median home price in Saint Paul?

The median asking price in Saint Paul is about $347,000 as of Oct 2026, down 1.7% from a year ago. This is the asking price on homes listed for sale. Sites that report sold prices or estimated home values will show a different number. Our Saint Paul figures cover the 33 ZIP codes with a Saint Paul mailing address, which can reach past city limits.

Is Saint Paul a buyer's or seller's market in 2026?

Buyers have more room in Saint Paul than usual. We compare Saint Paul with 2017–2019 at this time of year: there are 26 pending sales per 100 listings, against 71 then; there are 19% more homes for sale; 25% of sellers have cut their price, against 21% then.

Are Saint Paul home prices going up or down?

The median asking price is 20.7% below its Jun 2023 peak. Per square foot the gap is smaller: 7.7% below the Apr 2025 high. Part of the drop is smaller homes coming to market. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower.

Which Saint Paul ZIP code has the most negotiating room?

55101. Only 6 homes under contract for every 100 still for sale. 12% of sellers there have cut their price, and listings there spend a median 80 days on the market.

What price growth should I assume for Saint Paul?

Assume +1.5% a year. Saint Paul grew 3.5% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Saint Paul grows about 1.5% a year. That is the number to type in. Prices fell 3.9% over the last year. Use it for timing. The five-year rate is the better guide.

What is the fair market rent in Saint Paul?

HUD's fiscal year 2026 fair market rent for Ramsey County is $1,709 a month for 2 bedrooms and $2,262 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.