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North Dakota Real Estate Summary
The North Dakota real estate market remains stable, even as the economy is not as strong. The cost of housing and living is low in the state, making North Dakota appealing for relocations. Taxes are also very affordable and the education standards continue to improve.
Fargo real estate is a strong market as it is on of the largest cities. A large university and smaller colleges keep the population growing and needing new housing. The average price for houses in Fargo was $120,000. The market is even amongst buyers and sellers and there is a good supply of homes in all price ranges. Houses that are for sale sit on the market for an average of 60 days.
Grand Forks real estate is continuing to grow. The worst flood ever in 1996 brought a surge of new construction to replace damaged homes and buildings. The trend has since slowed considerably, but remains around 5%. The average home price in Grand Forks is $110,000.
The North Dakota real estate market may turn into a slump in future years due to job losses and high unemployment rates. North Dakota is one of only two states seeing a loss of jobs for the year 2005. | 