$1,407 Closing Credit*
$118,500
1,152 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: z'Up North Realty, Inc.
Is Babbitt, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Babbitt was a Neutral Market.
Key Takeaway
Babbitt is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Babbitt, MN
How much do homes in Babbitt, MN cost?
Median Sold Price
$133,500
$73/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$13,500(+11.3%)
Key Takeaway
Homes in Babbitt have sold for 11.3% more than they did a year ago.
Summary: The median home sold price in Babbitt was $133,500 in October 2024, up 11.3% from last year, and the median price per square foot was $73.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230K | - | N/A |
| 2 Bedrooms | $113K | $127.5K | +12.8% |
| 3 Bedrooms | $124K | $131.7K | +6.3% |
| 4 Bedrooms | - | $156.5K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Babbitt housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 6.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Babbitt, MN
How many homes are available in Babbitt, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 21 | +5.0% |
Summary: The Babbitt real estate market had 21 homes for sale in October 2024, a 5.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 9 | 9 | 0.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Babbitt housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Babbitt, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Babbitt in October 2024, the same as the previous month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.
Days on Market for Babbitt, MN
How long does it take to sell a home in Babbitt, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 140 Days | 21 Days | -84.4% |
Summary: Homes in Babbitt had an average of 21 days on market in Oct 2024, down by 84.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Babbitt are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in Babbitt; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
