The city of North Oaks is a suburb 10 miles north of Saint Paul with a population of about 4,469. Formerly a gated community, all the land is owned by homeowners with the North Oaks home Owners Association and maintains all roads, plowing, parks, facilities and recreation trails. Each homeowner’s property extends halfway into the street (source, Wikipedia).
From May of 2015 to May of 2016 this is the most up to date information on what is happening in the North Oaks Real Estate Market. Statistics offered by the Minneapolis Area Association of Realtors.
|Median Sales Price||$691,326||$700,000||+1.3%|
|Days on the market||138||145||+5.1%|
|Months Supply of Inventory||7.0||8.4||+20.0%|
What this means for you if you’re selling your home:
It’s a very good time to sell your home if you live in North Oaks!
It’s worth noting that these statistics represent a sample size of under 100. It only takes one or two exceptions to the rule to make big changes in the percentages we are looking at. One thing we know, North Oaks continuous to be a prestigious and beautiful place to live.
- There is a rare supply of homes available in North Oaks. In many suburbs in the rest of the metro, there is a shortage of homes. In North Oaks there is a 8.4 supply of homes. If a balanced market is around 5, North Oaks is actually starting to look like a buyer’s market.
- Although North Oaks seems to defy what is happening in the rest of the Twin Cities real estate market, there continues to be a large amount of healthy real estate activity. With a large increase in new homes on the market, and a slight decrease in number of sales, things are hopping!
- If you have the opportunity to get in the market now, it would be advantageous for you to do so!
See more Statistics on North Oaks Real Estate Here
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