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24 | Page <br />City of Little Canada Housing Study - 2025 <br />The low mortgage rate has important financial implications. Residents without mortgages may <br />be more sensitive to property tax or utility cost increases, as these expenses make up a larger <br />portion of their housing costs. <br /> <br />Sales Trends <br />The St. Paul Area Association of Realtors (SPAAR) produces annual reports on home sales <br />across the Twin Cities metro, including individual city-level data. <br /> <br />For clarity and readability, only adjacent communities are shown in the time series charts, while <br />full reference community tables are included in the Databook appendix. <br /> <br />Little Canada has averaged 125 home sales per year over the past six years, indicating a stable <br />market with minimal turnover fluctuations. <br />Figure 22 – Total Closed Sales By Year <br /> <br />Source – SPAAR 2018-2024 Annual Housing Market Reports <br />New construction sales have surged in Little Canada, rising from under 3% of total sales in 2018 <br />to nearly 20% in 2024. This increase is largely driven by the Pioneer Commons townhome <br />development which is responsible for over 150 new homes entering Little Canada’s housing <br />market. <br />0 <br />100 <br />200 <br />300 <br />400 <br />500 <br />600 <br />700 <br />2018 2019 2020 2021 2022 2023 2024 <br />Little Canada Maplewood Roseville Shoreview Vadnais Heights