$175,000
Land
Listing Office: eXp Realty
Is Birch Lake, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Birch Lake was a Seller's Market.
Key Takeaway
Birch Lake is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Birch Lake, MN
How much do homes in Birch Lake, MN cost?
Median Sold Price
$380,000
$182/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$113,500(+42.6%)
Key Takeaway
Homes in Birch Lake have sold for 42.6% more than they did a month ago.
Summary: The median home sold price in Birch Lake was $380,000 in November 2024, up 42.6% from last month, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | - | - | N/A |
| 4 Bedrooms | $266.5K | $380K | +42.6% |
| 5+ Bedrooms | - | - | N/A |
Summary: Birch Lake housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes increased by 42.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Babbitt | $142K | $220.5K | +55.3% |
| Birch Lake | $266.5K | $380K | +42.6% |
| Morse Township | $732K | $345K | -52.9% |
Housing Supply in Birch Lake, MN
How many homes are available in Birch Lake, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Summary: The Birch Lake real estate market had 9 homes for sale in November 2024, a 10.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Birch Lake housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Birch Lake, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Birch Lake in November 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Birch Lake, MN
How long does it take to sell a home in Birch Lake, MN?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 77 Days | 132 Days | +71.4% |
Summary: Homes in Birch Lake had an average of 132 days on market in Nov 2024, up by 71.4% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Birch Lake are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 1 homes were sold in Birch Lake; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
