Published October 25, 2026 in Market Update

More homes hit the market, but many parts of Duluth still moved fast

By Mike Raivala

Real estate, Primary market

The one fact that changes what you should do: more homes are available, but the tightest parts of this market still moved in 11 to 16 days. Pricing right still decides everything.

The National Association of Realtors counted 1.60 million homes for sale nationally in September 2026. More supply can mean more choices for buyers. But in several Duluth-area ZIP codes, the Real Estate Data Aggregator showed homes selling just as fast as ever.

These numbers cover the three months ending August 31, 2026. Read them as a snapshot of that period, not today's exact count.

Where homes moved fastest

The Real Estate Data Aggregator counted a median of 11 days on market in ZIP 55807 (Duluth, MN). That is 6 days shorter than the same period in 2025. Nearly half of all homes there, 48.7%, went under contract within two weeks of listing.

South Range (54874) also hit 11 days. That is 23 days shorter than a year before. Half of all homes sold above list price there, according to the Real Estate Data Aggregator.

ZIP 55804 (Duluth, MN) came in at 12 days. More than half of those homes, 52.5%, went under contract within two weeks. The Real Estate Data Aggregator put the median sale price there at $400,000.

ZIP 55803 (Duluth, MN) was close behind at 15 days, 19 days shorter than last year. The Real Estate Data Aggregator counted 43.2% of homes going under contract within two weeks, up 17 points from 2025.

Inventory rose, but supply stayed thin in most ZIP codes

Even with more listings, months of supply stayed well below 2 months in the busiest ZIP codes. The Real Estate Data Aggregator measured just 1.2 months of supply in both 55807 (Duluth, MN) and 55804 (Duluth, MN). Carlton (55718) was the tightest of all at 0.7 months.

ZIP 55811 (Duluth, MN) saw homes for sale double from a year ago, reaching 76. Still, supply sat at only 1.7 months, and 43.5% of homes went under contract within two weeks.

Not every area moved fast. The Real Estate Data Aggregator put Iron River (54847) at 83 days on market, up 45 days from last year. Months of supply there reached 5.8. Silver Bay (55614) sat at 72 days, up 19 days. These areas are a real contrast to the Duluth core.

Prices held up in most places

The Real Estate Data Aggregator showed median sale prices rising in most ZIP codes compared to a year ago. ZIP 55812 (Duluth, MN) was up 8%, reaching $409,950. ZIP 55803 (Duluth, MN) rose 4% to $390,000. ZIP 55811 (Duluth, MN) gained 3%, landing at $380,000.

A few areas dipped. ZIP 55804 (Duluth, MN) slipped 2.2% to $400,000. ZIP 55614 (Silver Bay, MN) fell 5.2% to $165,000. ZIP 55734 (Eveleth, MN) dropped 6% to $150,000. Prices do not move the same way everywhere.

What mortgage rates mean for this market

Freddie Mac put the average 30-year fixed rate at 7.32% as of October 22, 2026. The 15-year averaged 6.68%. Realtor.com reported an average mortgage rate of 7.40% on October 22, 2026.

Nationally, the National Association of Realtors reported existing-home sales at 3.99 million units in September 2026. Prices nationally were up 1.3% from a year before. Locally, the story is more varied, as the ZIP code numbers show.

Realtor.com noted that September pending home sales were down 11.3% year over year nationally. Some of that pressure shows up locally too. In ZIP 55812 (Duluth, MN), pending sales fell 50% from a year ago, even as that ZIP code's homes sold in just 13 days.

Where above-list sales were strongest

In Superior (54880), the Real Estate Data Aggregator found that 52.6% of homes sold above list price. That share was up 5.5 points from last year. The sale-to-list ratio averaged 101.5%.

Cloquet (55720) was close, with 52.8% of homes selling above list. The Real Estate Data Aggregator put the sale-to-list ratio there at 101.6%, up 1.8 points from 2025.

Iron River (54847) told a different story. Zero percent of homes sold above list price, down 18.8 points from a year ago. The sale-to-list ratio was 95.5%. Pricing matters more in markets like that one.

Solon Springs stood out

Solon Springs (54873) had one of the bigger swings in the market. The Real Estate Data Aggregator showed the median sale price up 55.2% from a year ago, reaching $360,000. Homes sold jumped 87.5%. Days on market fell 23 days to just 22.

Sixty percent of homes there went under contract within two weeks of listing, up 26.7 points from 2025. That is a sharp shift. Small markets can move fast when demand picks up.