$7,124 Closing Credit*
$599,900
5,676 SqFt
4 Beds
•4 Full Baths, 1 Partial
Listing Office: Mirabella Realty
Is Biwabik, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Biwabik has remained a Seller's Market.
Key Takeaway
Biwabik is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Biwabik, MN
How much do homes in Biwabik, MN cost?
Median Sold Price
$165,000
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$59,500(+56.4%)
Key Takeaway
Homes in Biwabik have sold for 56.4% more than they did a year ago.
Summary: The median home sold price in Biwabik was $165,000 in November 2024, up 56.4% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $99K | $105K | +6.1% |
| 2 Bedrooms | $145.5K | $175K | +20.3% |
| 3 Bedrooms | $109.9K | $143K | +30.1% |
| 4 Bedrooms | $720K | - | N/A |
| 5+ Bedrooms | - | $627.5K | N/A |
Summary: Biwabik housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.1%, 2 bedroom homes increased by 20.3%, 3 bedroom homes increased by 30.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Biwabik | $105.5K | $165K | +56.4% |
| White Township | $148K | $138K | -6.8% |
Housing Supply in Biwabik, MN
How many homes are available in Biwabik, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 11 | +10.0% |
Summary: The Biwabik real estate market had 11 homes for sale in November 2024, a 10.0% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Biwabik housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Biwabik, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Biwabik in November 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Biwabik, MN
How long does it take to sell a home in Biwabik, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 7 Days | 276 Days | +3842.9% |
Summary: Homes in Biwabik had an average of 276 days on market in Nov 2024, up by 3842.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Biwabik are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 4 homes were sold in Biwabik; 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.
