$10,000 Closing Credit*
$975,000
3,928 SqFt
5 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 November 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
$305,357
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$30,357(+11.0%)
Key Takeaway
Homes in Duluth have sold for 11% more than they did a year ago.
Summary: The median home sold price in Duluth was $305,357 in November 2024, up 11% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120.5K | $212.5K | +76.3% |
| 2 Bedrooms | $235K | $237.9K | +1.3% |
| 3 Bedrooms | $263K | $303.2K | +15.3% |
| 4 Bedrooms | $380K | $430K | +13.2% |
| 5+ Bedrooms | $369.4K | $420K | +13.7% |
Summary: Duluth housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 76.3%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 15.3%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 13.7%.
Median Sold Price Compared To Nearby Cities
| Duluth | $275K | $305.3K | +11.0% |
| Superior | $195K | $215K | +10.3% |
Housing Supply in Duluth, MN
How many homes are available in Duluth, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 448 | 357 | -20.3% |
Summary: The Duluth real estate market had 357 homes for sale in November 2024, a 20.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 6 | -45.5% |
| 2 Bedrooms | 84 | 66 | -21.4% |
| 3 Bedrooms | 199 | 169 | -15.1% |
| 4 Bedrooms | 114 | 83 | -27.2% |
| 5+ Bedrooms | 40 | 33 | -17.5% |
Summary: The Duluth housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 45.5%, 2 bedroom homes decreased by 21.4%, 3 bedroom homes decreased by 15.1%, 4 bedroom homes decreased by 27.2%, and 5+ bedroom homes decreased by 17.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 141 | 124 | -12.1% |
Asking Price vs. Sold Price
51 Homes Were Sold
Under Asking
29 Homes Were Sold
At Asking
37 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Duluth, you may be able to get a good deal. 43.6% of homes here sold below asking price last month.
Summary: A total of 124 homes were sold or pending in Duluth in November 2024, down by 12.1% month-over-month. Of the 117 sold homes, 44% were sold under asking, 25% were sold at asking, and 32% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 21 Days | 25 Days | +18.2% |
Summary: Homes in Duluth had an average of 25 days on market in Nov 2024, up by 18.2% compared to last year.
Breakdown of Home Sale Times
92 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
8 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 November 2024, 124 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.
