North Dakota Real Estate Trends - A New Way to Look at North Dakota Realty

North Dakota Real Estate

While most of the country faces dropping housing prices and an increasing number of foreclosures, the North Dakota real estate boom continues strong into the first part of 2012. Spurred by a growing oil industry, the North Dakota real estate boom has primarily affected the housing market. The number of condo, townhouse and single family home listings has risen 30% since the beginning of the year.

The North Dakota real estate market is split between family homes in an urban setting - in cities like Fargo, Grand Forks and West Fargo – and a variety of rural real estate that appeals to developers, investors, and home buyers. North Dakota land listings range from in-town lots for less than $10,000 to undeveloped parcels that of 10,000 to 80,000 acres that carry price tags up to $4.2 million.

The possibility that North Dakota might abolish property taxes has drawn national attention and may further fuel the housing boom fire. Although sale prices are rising (average sale price for single family homes rose almost 10% between October and December), current list prices in North Dakota remain low.

Average List Price By Property Type
  • Commercial: $440,000
  • Condo/Townhouse: $165,000
  • Lot/Land: $120,000
  • Mobile/Manufactured: $54,000
  • Multi-Family: $207,000
  • Single Family: $184,000
  • Map of North Dakota Cities - Average Listing Price Change

    North Dakota Real Estate:
    Largest Increase in Listing Price

    City 3 mo.
    West Fargo, ND Real Estate
    6.29%
    Fargo, ND Real Estate
    1.30%

    North Dakota Real Estate:
    Largest Decrease in Listing Price

    City 3 mo.
    Bismarck, ND Real Estate
    8.16%

    North Dakota Homes For Sale By City

    Most Expensive North Dakota Homes for Sale by City

    City Median $ 3 mo.
    Bismarck, ND Homes for Sale $379,580
    8.16%
    West Fargo, ND Homes for Sale $322,682
    6.29%
    Fargo, ND Homes for Sale $318,034
    1.30%

    Least Expensive North Dakota Homes for Sale by City

    City Median $ 3 mo.
    Fargo, ND Homes for Sale $318,034
    1.30%
    West Fargo, ND Homes for Sale $322,682
    6.29%
    Bismarck, ND Homes for Sale $379,580
    8.16%

    Best North Dakota Cities for Families and Singles

    Top 5 North Dakota Cities for Families

    City Homes with
    Children
    Crime vs. Natl. Avg.
    West Fargo, ND Local Info 34.00% 0.57
    Mandan, ND Local Info 29.00% 1.04
    Minot, ND Local Info 27.00% 0.16
    Williston, ND Local Info 26.00% 0.78
    Grand Forks, ND Local Info 25.00% 0.15

    Top 5 North Dakota Cities for Singles

    City Unmarried Female
    to Male
    Grand Forks, ND Local Info 76.00% 49% / 51%
    Fargo, ND Local Info 72.00% 49% / 51%
    Jamestown, ND Local Info 69.00% 49% / 51%
    Minot, ND Local Info 68.00% 50% / 50%
    Williston, ND Local Info 66.00% 48% / 52%
    Methodology

    Largest Increase in Listing Price Methodology

    This chart uses the median listing price of cities with at least 100 active property listings to calculate the largest percentage increase in median listing prices for single family homes over a three month period.

    Largest Decrease in Listing Price Methodology

    This chart uses the median listing price of cities with at least 100 active property listings to calculate the largest percentage decrease in median listing prices for single family homes over a three month period.

    Most Expensive Homes for Sale by City Methodology

    This chart uses the median listing price of cities with at least 100 active property listings to retrieve the cities with the five highest median listing prices of single family homes. In addition, the median listing prices are used to calculate the associated increase or decrease in median listing price as a percentage over a three month period.

    Least Expensive Homes for Sale by City Methodology

    This chart uses the median listing price of cities with at least 100 active property listings to retrieve the cities with the five lowest median listing prices of single family homes. In addition, the median listing prices are used to calculate the associated increase or decrease in median listing price as a percentage over a three month period.

    Top 5 Cities for Families Methodology

    This chart displays the top five cities with a population of at least 10,000 that have the highest percentage of homes with children and the lowest crime rate. Crime rate is determined by comparing each city's crime rate index against the national crime rate index, which equals 100. A number lower than one indicates less crime than the national average, while a number greater than one indicates more overall crime than the national average.

    Top 5 Cities for Singles Methodology

    This chart displays the top five cities with a population of at least 10,000 that have the highest percentage of unmarried people. An unmarried person is defined as someone who was never married, is separated, or divorced.