Is Duluth, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Duluth has remained a Seller's Market.
Housing Prices in Duluth, MN
How much do homes in Duluth, MN cost?
Median Sold Price
$292,000
$187/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Summary: The median home sold price in Duluth was $292,000 in April 2024, down 7.7% from last month, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $339K | N/A |
2 Bedrooms | $281.5K | $227.6K | -19.1% |
3 Bedrooms | $273.2K | $292K | +6.9% |
4 Bedrooms | $550K | $363.5K | -33.9% |
5+ Bedrooms | $855K | $350K | -59.1% |
Summary: Duluth housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 19.1%, 3 bedroom homes increased by 6.9%, 4 bedroom homes decreased by 33.9%, and 5+ bedroom homes decreased by 59.1%.
Median Sold Price Compared To Nearby Cities
Hermantown | $310K | $406K | +31.0% |
Proctor | $300.5K | $335K | +11.5% |
Duluth | $316.5K | $292K | -7.7% |
Housing Supply in Duluth, MN
How many homes are available in Duluth, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
244 | 297 | +21.7% |
Summary: The Duluth real estate market had 297 homes for sale in April 2024, a 21.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 6 | +20.0% |
2 Bedrooms | 54 | 72 | +33.3% |
3 Bedrooms | 116 | 120 | +3.4% |
4 Bedrooms | 51 | 70 | +37.3% |
5+ Bedrooms | 18 | 29 | +61.1% |
Summary: The Duluth housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 37.3%, and 5+ bedroom homes increased by 61.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
65 | 96 | +47.7% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
51 Homes Were Sold
Over Asking
Summary: A total of 96 homes were sold or pending in Duluth in April 2024, up by 47.7% month-over-month. Of the 91 sold homes, 29% were sold under asking, 15% were sold at asking, and 56% 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
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
18 Days | 19 Days | +2.5% |
Summary: Homes in Duluth had an average of 19 days on market in Apr 2024, up by 2.5% compared to last month.
Breakdown of Home Sale Times
80 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During April 2024, 96 homes were sold in Duluth; 83% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.