Even though the summer season is traditionally a slower time for the real estate market all over the country, it’s safe to say the summer of 2016 was significantly more competitive than just about any summer in recent memory.
But now that August is coming to a close and the busy fall season is right around the corner, we thought now might be a good time to provide Duluth area home buyers and sellers with a quick market update.
As of today, the median list price for a home in Duluth, MN is $175,000, which comes out to approximately $102 a square foot. Although still higher than much of what we saw in 2015, that’s still the lowest median list price for a home in Duluth since January of this year when it settled at $174,000.
The median closing
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Hundreds of thousands of onlookers are expected to flock to the city’s lakefront this week to get a glimpse of the the 9 tall ships that will be participating in this year’s Parade of Sail. As part of the Tall Ships Duluth festival, this spectacular and highly-coordinated event is one of the more unique happenings that will take place in Duluth in 2016, and it’s something that most of us have been looking forward to all summer.