$1,152 Closing Credit*
$97,000
1,508 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Edina Realty, Inc. - Duluth
Is Duluth, 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, Duluth has remained a Seller's Market.
Key Takeaway
Duluth is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Duluth, MN
How much do homes in Duluth, MN cost?
Median Sold Price
$305,400
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$34,983(+12.9%)
Key Takeaway
Homes in Duluth have sold for 12.9% more than they did a year ago.
Summary: The median home sold price in Duluth was $305,400 in October 2024, up 12.9% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120.5K | $198.7K | +64.9% |
| 2 Bedrooms | $235K | $236.4K | +0.6% |
| 3 Bedrooms | $262K | $304.9K | +16.4% |
| 4 Bedrooms | $363.7K | $430K | +18.2% |
| 5+ Bedrooms | $350K | $480K | +37.1% |
Summary: Duluth housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 64.9%, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 37.1%.
Median Sold Price Compared To Nearby Cities
| Duluth | $270.4K | $305.4K | +12.9% |
| Superior | $201K | $210.2K | +4.6% |
Housing Supply in Duluth, MN
How many homes are available in Duluth, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 442 | 446 | +0.9% |
Summary: The Duluth real estate market had 446 homes for sale in October 2024, a 0.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 11 | -8.3% |
| 2 Bedrooms | 81 | 82 | +1.2% |
| 3 Bedrooms | 210 | 198 | -5.7% |
| 4 Bedrooms | 98 | 113 | +15.3% |
| 5+ Bedrooms | 41 | 42 | +2.4% |
Summary: The Duluth housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.3%, 2 bedroom homes increased by 1.2%, 3 bedroom homes decreased by 5.7%, 4 bedroom homes increased by 15.3%, and 5+ bedroom homes increased by 2.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 122 | 140 | +14.8% |
Asking Price vs. Sold Price
62 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
50 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Duluth, you may be able to get a good deal. 47.3% of homes here sold below asking price last month.
Summary: A total of 140 homes were sold or pending in Duluth in October 2024, up by 14.8% month-over-month. Of the 131 sold homes, 47% were sold under asking, 15% were sold at asking, and 38% were sold over asking.
Days on Market for Duluth, MN
How long does it take to sell a home in Duluth, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 32 Days | 23 Days | -28.7% |
Summary: Homes in Duluth had an average of 23 days on market in Oct 2024, down by 28.7% compared to last year.
Breakdown of Home Sale Times
103 Homes Were Sold
Under 30 Days
27 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Duluth are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 140 homes were sold in Duluth; 74% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
