$1,068 Closing Credit*
$89,900
1,076 SqFt
2 Beds
•1 Full Bath
Sean McDonald, Listing Office: RE/MAX Results - Longville
Is Hibbing, 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, Hibbing has remained a Seller's Market.
Key Takeaway
Hibbing is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hibbing, MN
How much do homes in Hibbing, MN cost?
Median Sold Price
$188,000
$111/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$48,100(+34.4%)
Key Takeaway
Homes in Hibbing have sold for 34.4% more than they did a year ago.
Summary: The median home sold price in Hibbing was $188,000 in November 2024, up 34.4% from last year, and the median price per square foot was $111.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $55K | - | N/A |
| 2 Bedrooms | $136K | $147.9K | +8.8% |
| 3 Bedrooms | $139.9K | $178.8K | +27.8% |
| 4 Bedrooms | $165K | $233K | +41.2% |
| 5+ Bedrooms | $269.9K | $247.5K | -8.3% |
Summary: Hibbing housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 27.8%, 4 bedroom homes increased by 41.2%, and 5+ bedroom homes decreased by 8.3%.
Housing Supply in Hibbing, MN
How many homes are available in Hibbing, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 22 | 26 | +18.2% |
Summary: The Hibbing real estate market had 26 homes for sale in November 2024, a 18.2% increase 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 | 5 | 6 | +20.0% |
| 3 Bedrooms | 7 | 8 | +14.3% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Hibbing 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 increased by 20%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 8 | +700.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Hibbing, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Hibbing in November 2024, up by 700.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Hibbing, MN
How long does it take to sell a home in Hibbing, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 59 Days | 25 Days | -57.4% |
Summary: Homes in Hibbing had an average of 25 days on market in Nov 2024, down by 57.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hibbing are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 8 homes were sold in Hibbing; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
