Eveleth Housing Market Report December 2024•Saint Louis County, Minnesota

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Housing Prices in Eveleth, MN

How much do homes in Eveleth, MN cost?

Housing Market Conditions

Is Eveleth, MN a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Eveleth is a Seller's Market

Difference Since November 2024

Last month, Eveleth was a Neutral Market.

Insight

Eveleth is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$182,410$114/SqFt
-$27,590
-13.1%

Based on all homes sold in December 2024

Insight

Homes in Eveleth have sold for 13.1% less than they did a month ago.

Summary: The median home sold price in Eveleth was $182,410 in December 2024, down 13.1% from last month, and the median price per square foot was $114.

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsNov 2024Dec 2024Change MoM
1--
N/A
2-$92.5K
N/A
3$210K$193K
-8.1%
4-$378.7K
N/A
5--
N/A

Summary: Eveleth housing price by bedroom type for December 2024, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes decreased by -8.1%. The home price for 4 bedroom homes did not change. The home price for 5 bedroom homes did not change.

Housing supply in Eveleth, MN

How many homes are available in Eveleth, MN?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
23Last MonthDec 2024
262 months agoNov 2024
-11.5 %
Change MoMNov – Dec

Summary: The Eveleth real estate market had 23 homes for sale in Dec 2024, a 11.5 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
7Last MonthDec 2024
42 months agoNov 2024
+75.0 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
122
0.0%
257
+40.0%
31611
-31.3%
422
0.0%
511
0.0%

Summary: Eveleth housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +40.0%. The inventory for 3 bedroom homes decreased by -31.3%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Eveleth, MN cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price2 Homes

At Asking Price0 Home

Under Asking Price5 Homes

Insight

If you're buying a home in Eveleth, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Eveleth in December 2024, up by 75.0% month-over-month. Of the 7 sold homes, 71% were sold under asking, 0% were sold at asking, and and 29% were sold over asking.

Days on Market for Eveleth, MN

How long does it take to sell a home in Eveleth, MN?

Breakdown of Home Sale Times

Under 30 Days4 Homes

30 – 90 Days1 Home

Over 90 Days2 Homes

Insight

Many homes in Eveleth are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 7 homes were sold in Eveleth; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
Last Month1 month agoChange MoM
61 DaysLast MonthDec 2024
17 Days1 month agoNov 2024
+259.7 %
Change MoMNov – Dec

Summary: Homes in Eveleth had an average listing age of 61 days in Dec 2024, up by 259.7% compared to the previous month.

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Newest Listings in Eveleth, MN

What homes are available in Eveleth, MN?

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Based on information from NorthStar of Minnesota / Regional Multiple Listing Service of Minnesota Inc., and Lake Superior Area MLS for the period 11/01/2024 - 01/01/2025

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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 11:22:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Information is supplied by seller and other third parties and has not been verified. ©2025 Lake Superior Area REALTORS® MLS - All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 11:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.