$1,543 Closing Credit*
$129,900
1,225 SqFt
3 Beds
•1 Full Bath
Norma Jean Jofs, Listing Office: Next Door Realty
Is Biwabik, 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, 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
$145,000
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$39,500(+37.4%)
Key Takeaway
Homes in Biwabik have sold for 37.4% more than they did a year ago.
Summary: The median home sold price in Biwabik was $145,000 in October 2024, up 37.4% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $99K | $105K | +6.1% |
| 2 Bedrooms | $145.5K | $175K | +20.3% |
| 3 Bedrooms | $98.9K | $125K | +26.3% |
| 4 Bedrooms | $720K | - | N/A |
| 5+ Bedrooms | - | $1.0M | N/A |
Summary: Biwabik housing prices by bedroom type for October 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 26.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Biwabik | $105.5K | $145K | +37.4% |
| White Township | $147K | $144K | -2.0% |
Housing Supply in Biwabik, MN
How many homes are available in Biwabik, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 10 | +11.1% |
Summary: The Biwabik real estate market had 10 homes for sale in October 2024, a 11.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Biwabik 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 0 | 2 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were 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. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Biwabik in October 2024, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 65 Days | 27 Days | -57.7% |
Summary: Homes in Biwabik had an average of 27 days on market in Oct 2024, down by 57.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Biwabik are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in Biwabik; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
