This is one of the most unusual Duluth real estate markets that you will probably ever see in your lifetime, and probably one of the best home buyer markets you will ever see, thanks to some of the Duluth foreclosures and bank owned homes. Prices are down, inventory is good, and mortgage rates are dirt cheap right now. In a normal Duluth real estate market, new construction is priced higher than surrounding existing homes of similar caliber, as it is in most urban areas across the country.
Permanent link to inventory of Duluth MN foreclosed homes. (Bank-owned)
Please note: This may not be a complete list. Please call to check on availability and find out about other Duluth foreclosures and bank owned houses in Duluth that are not advertised here.
Duluth Foreclosures and New Construction
This is no longer the case, thanks to Duluth foreclosures on new construction. Banks have taken over some of these houses in Duluth, especially new condominiums. At the time of this post, there were several new condos for sale in Duluth at 2126 Water Street on Lake Superior, with prices ranging from 499K to 424K. Some of these are exquisite three bedroom, three bath corner condos with decks off of the master bedroom, granite countertops, sauna, and heated, secured garage. Many of these are awaiting finishing touches, including floor covering. The views of Lake Superior from these Duluth foreclosures condos are breathtaking.
At the time of this post, there were also Duluth foreclosures in the form of condos in Superior Vistas priced from $379K down to $160K. Expect to find gas fireplaces, large master suites, appliances, and generous flooring allowances.
Depending upon your timing, you may be able to find some Duluth foreclosures and bank owned traditional two story, four bedroom two bath houses in Duluth priced in the 120’s or less.