Is Bemidji, 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, Bemidji has remained a Seller's Market.
Key Takeaway
Bemidji is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bemidji, MN
How much do homes in Bemidji, MN cost?
Median Sold Price
$268,000
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Bemidji have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in Bemidji was $268,000 in March 2024, up 4.1% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $112.5K | $94.8K | -15.7% |
| 2 Bedrooms | $184K | $209.9K | +14.1% |
| 3 Bedrooms | $250K | $270K | +8.0% |
| 4 Bedrooms | $297.5K | $325K | +9.2% |
| 5+ Bedrooms | $355K | $325K | -8.5% |
Summary: Bemidji housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.7%, 2 bedroom homes increased by 14.1%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes decreased by 8.5%.
Median Sold Price Compared To Nearby Cities
| Northern Township | $299K | $329.8K | +10.3% |
| Bemidji | $257.5K | $268K | +4.1% |
| Bemidji Township | $264.7K | $268K | +1.2% |
Housing Supply in Bemidji, MN
How many homes are available in Bemidji, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 102 | 131 | +28.4% |
Summary: The Bemidji real estate market had 131 homes for sale in March 2024, a 28.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 18 | 25 | +38.9% |
| 3 Bedrooms | 56 | 66 | +17.9% |
| 4 Bedrooms | 16 | 22 | +37.5% |
| 5+ Bedrooms | 11 | 15 | +36.4% |
Summary: The Bemidji housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 38.9%, 3 bedroom homes increased by 17.9%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes increased by 36.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 22 | +46.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bemidji, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Bemidji in March 2024, up by 46.7% month-over-month. Of the 22 sold homes, 55% were sold under asking, 27% were sold at asking, and 18% were sold over asking.
Days on Market for Bemidji, MN
How long does it take to sell a home in Bemidji, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 101 Days | 67 Days | -33.0% |
Summary: Homes in Bemidji had an average of 67 days on market in Mar 2024, down by 33% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bemidji are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 22 homes were sold in Bemidji; 59% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.
