Duluth home sales down, prices upThe average sales price of a home in Duluth increased 11 percent in November to $153,985.
The latest summary of the local housing market has both good news and bad news.
The good news is that the average sales price of a home in Duluth increased 11 percent in November to $153,985.
The bad news is closings were down 20 percent compared to November 2009. A total of 143 properties closed in November 2010 compared to 179 in November 2009. Last year’s housing activity, however, was boosted by the expiring federal housing tax credit.
Currently, homes take an average of 85 days to sell. And for every home that sells in Duluth, 19 properties remain on the market, according to Edina Realty.