Duluth, MN housing market

In Duluth right now, the entire city has only about 181 homes for sale, and that is the story this month. Supply is that thin while buyers keep absorbing almost everything that comes to market. Roughly 170 new listings hit in the past month, which means nearly the whole for-sale inventory turns over every thirty days. Homes that list are moving fast too, spending a median of about 34 days on market before going under contract. That demand is pushing values up. The typical Duluth home is now worth about three hundred thirty-four thousand dollars, up roughly 6.5 percent from a year ago. Sellers are pricing ambitiously, with a median list price near four hundred thirteen thousand dollars, yet only about 17 percent of listings have had to cut their price. Put it together and this is a tight, fast seller's market. If you are thinking about selling, a well priced home is attracting quick action close to asking. Your leverage is strongest in the first two weeks, so price it right from day one.