Duluth Real Estate News

Found 23 blog entries about Duluth Real Estate News .

Duluth Commercial Real Estate With the holiday season about to kick into overdrive, the residential real estate market in Duluth traditionally slows down a bit until after the new year, and usually until sometime after the Super Bowl. But as home buyers take a break from the daunting task of trying to find a new home in Duluth, the commercial real estate market often stays pretty active through the winter season, and this year appears to be no different.  

Believe it or not, buying either a home or a commercial property towards the end of the year can have many advantages including better rates on investment property loans, as long as you don’t mind getting out and fighting the cold. But for the most part, a little snow and those chilly sub-zero temperatures rarely keep Minnesotans

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The Duluth area housing market is off to a somewhat of a sluggish start in early 2018, according to new stats released by the The Lake Superior REALTORS®. Compared to January 2017, actual closed sales dropped by over 19 percent last month, and pending sales have also dropped by roughly 26 percent.

Available inventory is also down compared to last year around this time, falling by just over 9 percent year-over-year.

Not surprisingly, home prices throughout the Duluth area continue to be on the rise as inventory keeps dropping. The median sales price increased slightly from $145,000 in January 2017 to $149,375, while the average sales price jumped at an even higher rate from $165,473 last year to $173,885 this year.

The good news for home sellers in Duluth,

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<pBuying a Condo in Duluth MN The new year is shaping up to be a hot year for real estate, and some of the hottest places to buy a condo in Duluth enjoy waterfront settings.

26 E. Superior

One such location is 26 E Superior. With outstanding views of the waterfront, Wieland Block presents one- and two-bedroom options. In addition, the property boasts a rooftop patio and a garden courtyard, along with gas fireplaces in the homes.

2100 Water Street

Even more options exist within 2100 Water Street. The property boasts spacious townhouses, right on the lake. In addition, the development also offers an indoor swimming pool, private decks, garage parking and a workout room.

6030 E. Superior

Finally, you won’t want to miss the property of 6030 E Superior. The multi-unit

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Winter Home Selling TipsThe winter season is traditionally for enjoying spending time with friends and family, but it can also be a great time to sell a home. Some simple winter home seller tips can help, however, in ensuring that Old Man Winter doesn’t put a damper on your plans.

Make a clear path

If you want to get a buyer you need to make sure people can reach your home, and that means a clear path to your front door. Clean up the front walkway and porch by sweeping up lingering leaves from the fall season, and make sure your walkway is shoveled and tidy in case it snows.

Warm things up

It’s always a good idea to present a cozy home, but it’s especially important during the cooler months of the year. Have a fire going in your fireplace and think about leaving a

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Duluth Homes For Sale on Nighthawk LaneWith breathtaking views of Lake Superior, Duluth offers some of the most spectacular natural scenery, with an overall lakefront setting that’s hard to match. Prospective homebuyers in the Duluth area are sure to find some of the best options in new construction homes along Nighthawk Lane.

Some of the homes of this area enjoy the luxury of new construction designs, many offering large open floor plans of two- to four-bedrooms and up to three baths, many with upwards of 2,000 square feet of living space. The newer homes offer some high-end features too, such as stainless steel appliances, hardwood flooring, and quartz countertops. They also include walk-in closets, abundant built-ins and in some cases, the option of choosing some of the finishes.

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Duluth Home Prices As the summer season pushes forward, it’s been more of the same for Duluth area home buyers, which means home prices are still on the rise, and inventory continues to be limited.

According to new data from the Duluth Area Association of Realtors, the median sales price in June jumped 10% compared to last year to $174,5000.

Making matters worse, the number of homes listed on the market also dropped by 9% last month compared to last year’s inventory, which was already considered low at the time.

Part of the housing market issues we’re facing in Duluth right now lately relate to how quickly homes are selling, which believe it or not is scaring off some would-be sellers from listing due to the fear of their home selling before they’re able to find a

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Duluth Real Estate Market The month of May was no doubt a strong month for the Duluth housing market, but with pending sales down nearly 32% year-over-year, June was starting to shape up to be a bit slower than expected in terms of total closed sales. 

But with the Duluth Area Association of REALTORS® recently releasing last month’s final statistics, June also maintained the area’s upward trend, especially when it came to home prices. 

Compared to June of last year, closed sales were up 2.3%, going from 388 sales in 2016 to 397 sales this year, which also represents the highest sales volume of any month this year by far. And to prove it, here are the yearly closed sales month-by-month: 

  • January 2017 - 151 Closed Home Sales
  • February 2017 - 136 Closed Home Sales
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New reports have surfaced that detail plans for a possible new townhouse development that’s likely coming a site near the edge of Lake Vermilion in nearby Tower.

What’s being described as a sustainable development, construction could start as early as this year for the 20 new townhouse residences, which according to developers will be all about “sustainability and resiliency in managing resources in the environment.”

As mentioned by the Duluth News Tribune, land surrounding Lake Vermilion is prime for redevelopment right now, especially with the new Highway 169 bridge being added, which will allow for traffic to flow through the area much, much smoother. And as for the townhouse residences themselves, look for units in the dynamic new waterfront

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As we made our way through one of the busiest times of the year for the Duluth housing market, both closed sales and the median sales price jumped by nearly 4% during the month of May, while inventory continued to dwindle. 

According to numbers from the Duluth Area Association of REALTORS® (DAAR), the number of closed sales back in May officially jumped 3.8% compared to May of 2016, while the median sales price increased by 3.5% from $159,450 in 2016 to $165,000 in 2017. 

Typical for the busy spring market, homes were also selling quite quickly back in May, and the average number of days between when a property was listed and when it was sold actually dropped significantly year-over-year, falling 25% from 84 days to just 63 days. 

Despite a

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Kenwood Village Duluth One of Duluth’s highest profile new developments has officially made its debut, adding to the already vibrant and desirable atmosphere that surrounds the city’s rapidly evolving Kenwood neighborhood. 

Dubbed Kenwood Village, the new project is a stunning mixed-use development that features 83 upscale apartment residences and 14,500 square feet of commercial space that will no doubt add to the growing list of community amenities for local residents and home owners to enjoy and take advantage of when calling this highly attractive location in Duluth home. 

As noted in a recent update in the Duluth News Tribune, around 28 apartments have already been rented inside Kenwood Village and only one commercial space remains available as of the end of this

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