North Dakota real estate trends (May 2022)
How is the real estate market in North Dakota?
🏠 Average home value: $271,140
📈 0.86% home value increase month over month
💰 Median listing price: $287,391
⏳ 67 days on the market
🔑 Homes on the market: 1,352
📆 1.2 months of housing inventory
🏦 30-year mortgage rate: 3.02%
💵 Average income: $54,602
State of the market: B-
While both home values and listing prices are trending gently upwards in North Dakota, a high average days on market coupled with moderate inventory suggests that listing prices may stall or even decline.
*Data last updated May 2022
From its sweeping grasslands to the shores of Lake Sakakawea, North Dakota is home to stunning natural beauty — including 63 wildlife refuges, the most of any state.
In fact, North Dakota is one of the least populated states in the nation, allowing plenty of wide open spaces. Though it's home to cities including Fargo, Bismarck, and Grand Forks, much of the state is considered rural.
But don't be fooled into thinking North Dakota lacks community spirit. It's officially nicknamed the Peace Garden State in recognition of the International Peace Garden, a botanical garden created in 1932 to promote friendship between the United States and Canada.
If you're thinking of buying or selling in North Dakota, these North Dakota housing predictions and stats can help you make an informed decision.
Want to save money when you buy or sell your home? With Clever, you'll only pay 1% or $3K in listing fees. Eligible buyers get 0.5% cash back after closing. Find out how much you can save with Clever today!
Selling a home in North Dakota
North Dakota real estate market forecast for sellers
⏰ Homes are selling 40 days faster than the annual average
💰 Homes are selling for $26,206 more than the annual average
💸 Average listing commission: 3.00%
💸 Average buyer's commission: 3.00%
How to sell a home in North Dakota
- The Best Low Commission Real Estate Brokers
- Top Real Estate Agents in North Dakota (June 2021 Rankings)
- 8 Steps to Selling a House in North Dakota
- How to Sell a House By Owner in North Dakota (2021 Update)
- 5 Best North Dakota Flat-Fee MLS Companies | Clever Real Estate
- We Buy Houses for Cash Companies in North Dakota (2021 Rankings)
Cost to sell a home in North Dakota
- The Average North Dakota Real Estate Commission (2021)
- The Ultimate Guide to North Dakota Real Estate Taxes
Buying a home in North Dakota
How much home you can buy with $300,000 in...
🏠 Fargo: 2,055 sq ft
🏡 Grand Forks: 2,190 sq ft
🏡 Bismarck: 1,863 sq ft
🏠 Minot: 2,830 sq ft
Investing in North Dakota real estate
- Top 5 Best Real Estate Investment Markets in North Dakota
- A Beginner's Guide to Buying an Apartment Building
Best of North Dakota
Each month, we compare cities in North Dakota based on different criteria. This month, we're looking at affordability and ranking the best cities in the state.
Most Affordable Cities in North Dakota
Worst of North Dakota
Each month, we compare cities in North Dakota based on a different criteria. This month we're looking at affordability data. These are the cities that ranked the worst in the state.
Least Affordable Cities in North Dakota
2. Grand Forks
North Dakota resources
- North Dakota Real Estate Commission
- North Dakota's real estate license verification
- North Dakota's real estate agent code of conduct
- North Dakota's disclosure forms
- Transfer taxes in North Dakota
- Home buying assistance programs in North Dakota
Frequently asked questions about North Dakota real estate
It is currently a seller’s market in North Dakota, but it’s starting to cool off. Although homes are selling for a bit more than they’re worth, the decreasing demand is causing properties to sit longer on the market. However, each city and town is different, so it’s best to consult with a real estate agent to determine your local trends.
North Dakota is a good state to invest in real estate, especially in bigger cities like Fargo and Bismarck, where people are always looking for housing. However, to ensure that your investment pays off, you will first need to learn what types of properties to buy and which neighborhoods to buy in. Find out more in our guide to investing in real estate.
It might not be a great time to purchase a house in North Dakota for most people. Listing prices are higher than average, and mortgage rates are rising. Should you really need to buy, then you’ll need to work with an experienced real estate agent to help you find a good deal.
Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, S&P Global, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.