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
$305,000
$172/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Summary: The median home sold price in Duluth was $305,000 in March 2024, up 38.1% from last month, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $177.4K | $251.5K | +41.7% |
3 Bedrooms | $242.7K | $273.2K | +12.6% |
4 Bedrooms | $297.5K | $550K | +84.9% |
5+ Bedrooms | $225.5K | $855K | +279.2% |
Summary: Duluth housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 41.7%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 84.9%, and 5+ bedroom homes increased by 279.2%.
Median Sold Price Compared To Nearby Cities
Duluth | $220.9K | $305K | +38.1% |
Hermantown | $280K | $310K | +10.7% |
Superior | $209K | $201.5K | -3.6% |
Proctor | $317K | $300.5K | -5.2% |
Housing Supply in Duluth, MN
How many homes are available in Duluth, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
200 | 226 | +13.0% |
Summary: The Duluth real estate market had 226 homes for sale in March 2024, a 13.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 5 | +150.0% |
2 Bedrooms | 51 | 48 | -5.9% |
3 Bedrooms | 95 | 105 | +10.5% |
4 Bedrooms | 39 | 49 | +25.6% |
5+ Bedrooms | 13 | 19 | +46.2% |
Summary: The Duluth housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes decreased by 5.9%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 25.6%, and 5+ bedroom homes increased by 46.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
57 | 67 | +17.5% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 67 homes were sold or pending in Duluth in March 2024, up by 17.5% month-over-month. Of the 63 sold homes, 40% were sold under asking, 21% were sold at asking, and 40% 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
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
39 Days | 18 Days | -52.2% |
Summary: Homes in Duluth had an average of 18 days on market in Mar 2024, down by 52.2% compared to last month.
Breakdown of Home Sale Times
56 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 67 homes were sold in Duluth; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.