Is Fargo, ND a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fargo is a buyer's market

Buyer's
Market

Difference Since November 2021

At the same time last year, Fargo was a Seller's Market.

Key Takeaway

Fargo is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in Fargo, ND cost?

Median Sold Price

$263,671

$131/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$20,332(+8.4%)

Key Takeaway

Homes in Fargo have sold for 8.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $150K$132K
-12.0%
2 $155K$169.9K
+9.6%
3 $224K$245K
+9.4%
4 $284.9K$315K
+10.6%
5+ $422.5K$445.1K
+5.3%

Median Sold Price Compared To Nearby Cities

West Fargo
+9.9%
Fargo
+8.4%

How many homes are available in Fargo, ND?

Number of Homes For Sale

Oct 2022Nov 2022%
808758-6.2%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 1717
0.0%
2 137123
-10.2%
3 302287
-5.0%
4 249240
-3.6%
5+ 10391
-11.7%

Number of Homes Sold

Oct 2022Nov 2022%
12999-23.3%

Asking Price vs. Sold Price

49 Homes Were Sold
Under Asking

27 Homes Were Sold
At Asking

23 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fargo, you may be able to get a good deal. 49.5% of homes here sold below asking price last month.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Fargo, ND

Homes for sale in Fargo, ND have reached 758. In November 2022 in Fargo, ND there were 6.2% less homes for sale than in October 2022. Listing prices have changed in this real estate market between October 2022 and November 2022: the cost of 1 bedroom properties went down by 12%, the cost of 2 bedrooms properties went up by 9.6%, prices of 3 bedrooms properties went up by 9.4%, prices of 4 bedrooms properties increased by 10.6%, 5 bedrooms properties became 5.3% more expensive. Volume of homes for sale in this real estate market have seen the following changes: the quantity of 1 bedroom homes have not changed, 2 bedrooms homes became 10.2% less available, 3 bedrooms homes became 5% less available, 4 bedrooms homes became 3.6% less available, 5 bedrooms homes inventory decreased by 11.7%. In November 2022 more than 23 listings in Fargo, ND were sold above the asking price. During the same period more than 27 listings were sold at asking price, while more than 49 were sold below.

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