Is Biwabik, 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, Biwabik has remained a Seller's Market.
Key Takeaway
Biwabik is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Biwabik, MN
How much do homes in Biwabik, MN cost?
Median Sold Price
$105,000
$206/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Biwabik have sold for 39.6% less than they did a month ago.
Summary: The median home sold price in Biwabik was $105,000 in April 2024, down 39.6% from last month, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $104K | N/A |
| 2 Bedrooms | $173.7K | $132K | -24.0% |
| 3 Bedrooms | - | - | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Biwabik 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 24%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Biwabik Township | $173.7K | $132K | -24.0% |
| Biwabik | $173.7K | $105K | -39.6% |
| White Township | $150K | $67K | -55.3% |
Housing Supply in Biwabik, MN
How many homes are available in Biwabik, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Summary: The Biwabik real estate market had 8 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 3 | 1 | -66.7% |
| 3 Bedrooms | 2 | 2 | 0.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Biwabik housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 66.7%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Biwabik, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Biwabik in April 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Biwabik, MN
How long does it take to sell a home in Biwabik, MN?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 Days | 25 Days | -23.1% |
Summary: Homes in Biwabik had an average of 25 days on market in Apr 2024, down by 23.1% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Biwabik are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Biwabik; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
