Is Mountain Iron, MN 55768 a buyer’s or seller’s market?
Mountain Iron is a seller’s market. With about 2.9 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 Mountain Iron housing market right now
In the three months ending August 31, 2026, 0% of homes in Mountain Iron, MN 55768 sold above their list price, the typical home went under contract in 43 days and there were 2.9 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 11 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 25%, homes sold more slowly (33 days then) and the median sale price rose 69% to $311,865. Overall, Mountain Iron is less competitive than a year ago, which gives buyers more room.
Within St. Louis County, homes here sell more slowly than in 75% 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 55768
Nearby markets
Alborn 55702 — /sq ftAngora 55703Buyer’s market $121 /sq ftAurora 55705Balanced $129 /sq ftBabbitt 55706Seller’s market $91 /sq ft Browse all markets →Towns like Mountain Iron nearby
Find towns like Mountain Iron in other states →Where Mountain Iron is
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Questions about Mountain Iron real estate
Is Mountain Iron a buyer’s or seller’s market?
A seller’s market: there were 2.9 months of supply in Mountain Iron, MN 55768 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 Mountain Iron?
The typical home went under contract in 43 days in the latest three months.
Do homes in Mountain Iron sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 93.8% of the list price.
What are property taxes in Mountain Iron?
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 Mountain Iron?
The median sale price was $311,865 in the three months ending August 31, 2026, about $145 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