$180,000
Land
Listing Office: Base Camp Country Real Estate
Is Bemidji, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Bemidji has remained a Seller's Market.
Key Takeaway
Bemidji is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bemidji, MN
How much do homes in Bemidji, MN cost?
Median Sold Price
$287,000
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$22,200(+8.4%)
Key Takeaway
Homes in Bemidji have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Bemidji was $287,000 in October 2024, up 8.4% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147.9K | $80K | -45.9% |
| 2 Bedrooms | $218K | $218.5K | 0.2% |
| 3 Bedrooms | $251.6K | $292.5K | +16.3% |
| 4 Bedrooms | $337.4K | $316.9K | -6.1% |
| 5+ Bedrooms | $418.7K | $322.7K | -22.9% |
Summary: Bemidji housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 45.9%, 2 bedroom homes increased by 0.2%, 3 bedroom homes increased by 16.3%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes decreased by 22.9%.
Median Sold Price Compared To Nearby Cities
| Bemidji | $264.8K | $287K | +8.4% |
| Bemidji Township | $268.3K | $287K | +7.0% |
| Northern Township | $310K | $310.9K | 0.3% |
| Frohn Township | $412.5K | $349.8K | -15.2% |
Housing Supply in Bemidji, MN
How many homes are available in Bemidji, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 217 | 212 | -2.3% |
Summary: The Bemidji real estate market had 212 homes for sale in October 2024, a 2.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 15 | -6.3% |
| 2 Bedrooms | 64 | 70 | +9.4% |
| 3 Bedrooms | 79 | 67 | -15.2% |
| 4 Bedrooms | 44 | 49 | +11.4% |
| 5+ Bedrooms | 14 | 11 | -21.4% |
Summary: The Bemidji housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 6.3%, 2 bedroom homes increased by 9.4%, 3 bedroom homes decreased by 15.2%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes decreased by 21.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 34 | 40 | +17.6% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bemidji, you may be able to get a good deal. 52.5% of homes here sold below asking price last month.
Summary: A total of 40 homes were sold or pending in Bemidji in October 2024, up by 17.6% month-over-month. Of the 40 sold homes, 53% were sold under asking, 25% were sold at asking, and 23% were sold over asking.
Days on Market for Bemidji, MN
How long does it take to sell a home in Bemidji, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 63 Days | 58 Days | -8.4% |
Summary: Homes in Bemidji had an average of 58 days on market in Oct 2024, down by 8.4% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Bemidji has remained consistent over time.
Summary: During October 2024, 40 homes were sold in Bemidji; 35% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
