Is Babbitt, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Babbitt has remained a Seller's Market.
Housing Prices in Babbitt, MN
How much do homes in Babbitt, MN cost?
Median Sold Price
$109,900
$76/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Babbitt was $109,900 in March 2024, down 11.4% from last year, and the median price per square foot was $76.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $162.5K | N/A |
2 Bedrooms | $118K | $98.9K | -16.2% |
3 Bedrooms | $133K | $129.9K | -2.3% |
4 Bedrooms | $165.5K | - | N/A |
5+ Bedrooms | - | - | N/A |
Summary: Babbitt housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 16.2%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Babbitt, MN
How many homes are available in Babbitt, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 13 | -13.3% |
Summary: The Babbitt real estate market had 13 homes for sale in March 2024, a 13.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 4 | -20.0% |
3 Bedrooms | 7 | 6 | -14.3% |
4 Bedrooms | 3 | 3 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Babbitt housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3 | 5 | +66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Babbitt in March 2024, up by 66.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Babbitt, MN
How long does it take to sell a home in Babbitt, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
4 Days | 149 Days | +3220.0% |
Summary: Homes in Babbitt had an average of 149 days on market in Mar 2024, up by 3220% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in Babbitt; 0% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 80% of homes were sold over 90 days.