North Dakota’s real estate market demonstrates steady growth, characterized by rising home values and relatively low inventory levels. Here’s a comprehensive overview:
🏠 Statewide Market Overview
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Average Home Value: The average home value in North Dakota is $278,735, reflecting a 4.8% increase over the past year.
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Median Sale Price: As of March 2025, the median sale price stands at $277,283, while the median list price is $310,617, indicating a gap between seller expectations and buyer offers. Zillow+1Zillow+1
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Inventory Levels: There are 1,789 homes for sale statewide, with 625 new listings as of April 30, 2025.
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Market Dynamics:
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Median Days to Pending: Homes typically go under contract in 19 days, suggesting a brisk market pace.
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Sale-to-List Price Ratio: The median sale-to-list price ratio is 0.985, indicating that homes are selling close to their listing prices.
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Pricing Trends: Approximately 15.9% of sales are above list price, while 60.6% are below, reflecting a market with selective bidding wars.
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🌆 Regional Highlights
Fargo (Cass County)
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Median Sale Price: In March 2025, the median sale price in Fargo was $287,167, with a median list price of $335,267 as of April 30, 2025.
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Market Activity:
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Inventory: There are 327 homes for sale, with 112 new listings.
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Median Days to Pending: Properties typically go under contract in 31 days.
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Sale-to-List Price Ratio: The ratio stands at 0.991, indicating homes are selling close to their asking prices.
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Stark County
🔮 Market Outlook
North Dakota’s housing market is expected to maintain its steady growth trajectory through the remainder of 2025. The combination of rising home values and limited inventory suggests continued competition among buyers, particularly in urban centers like Fargo. However, the market remains relatively affordable compared to national averages, making it attractive for both first-time homebuyers and investors.