Oakdale, MN real estate
Oakdale Real Estate Monthly Market Update - July, 2008Let's take a look at what is happening for real estate sales in Oakdale today. Oakdale is a suburb east of St. Paul, right near the intersection of 694 and 94. This community has a number of outstanding, affordable neighborhoods.
First comparing July of 2008 to July of 2007, there was a drop in new listings put onto MLS by 19.4%. In total, there were 54 properties put on the market this past July. Closed sales also dropped from 38 to 21 properties this year. The average sales price did sink by 11.3%, going from $222,442 to $197,260. Interestingly, the percent of original list price received at the time of sale rose from 95.9% to 96.8%. Average days on market shot up by 100.5%, going from 87 to 174 days. The inventory level for single family homes in Oakdale dropped from 121 to 93 listings. On the other hand, the townhome and condo inventory level rose 12.6%, from 119 to 134 properties.
Comparing January through July of 2007 to January through July of 2008, there has been a 11.9% drop in new listings on MLS, going from 506 to 446. Closed sales have dropped by 31.1%, moving from 193 to 133 closings. The average sales price declined by 12.9%, going from $227,029 to $197,742. The percent of original list price received the sale also dropped by 1.9%, going from 95.2% to 93.4%. Overall, average days on market is up 17%, from 131 to 153 days.
The closed sales year over year drop is one of the largest we have seen in any of our "market updates."
