Realtor Kevin Kalligher and RE/MAX says 2023 has seen rising home prices, rising interest rates, and low inventory. Kevin shares data from homes sales in the Greater Duluth Area comparing 2022 and 2023.

2023

• Single family houses sold: 1,329
• Average days on markey: 16
• Average list price: $328,083
• Average sales price: $332,288

2022:

• Single family houses sold: 1,686
• Average days on market: 14
• Average list price: $295,424
• Average sales price: $303,701

“We’ve got a pretty healthy and robust market right. The lack of inventory we’ve been experiencing is kind of propping that up,” Kevin tells The Lift.

We’ve seen a 8.6% increase in home values on average year over year- which is likely due to the 21% decrease in the amount of homes that have sold year over year