Is Babbitt, MN 55706 a buyer’s or seller’s market?
Babbitt is a seller’s market. With about 3.7 months of supply and 0% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Babbitt housing market right now
In the three months ending August 31, 2026, 0% of homes in Babbitt, MN 55706 sold above their list price, the typical home went under contract in 66 days and there were 3.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 12 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (32 days then) and the median sale price fell 4% to $148,336. Overall, Babbitt is less competitive than a year ago, which gives buyers more room.
Within St. Louis County, homes here sell more slowly than in 92% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Angora 55703 (100% sold over asking) and Buhl 55713 (100% sold over asking) are even more competitive.
Run the numbers for 55706
Nearby markets
Alborn 55702 — /sq ftAngora 55703Buyer’s market $121 /sq ftAurora 55705Balanced $129 /sq ftBiwabik 55708Seller’s market $204 /sq ft Browse all markets →Towns like Babbitt nearby
Find towns like Babbitt in other states →Where Babbitt is
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Questions about Babbitt real estate
Is Babbitt a buyer’s or seller’s market?
A seller’s market: there were 3.7 months of supply in Babbitt, MN 55706 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Babbitt?
The typical home went under contract in 66 days in the latest three months.
Do homes in Babbitt sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 97.3% of the list price.
What are property taxes in Babbitt?
About 1.03% of a home’s value a year in St. Louis County, or roughly $4,120 on a $400,000 home.
What is the median home price in Babbitt?
The median sale price was $148,336 in the three months ending August 31, 2026, about $91 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology