Is Fargo, ND a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Fargo has remained a Seller's Market.
Housing Prices in Fargo, ND
How much do homes in Fargo, ND cost?
Median Sold Price
$285,076
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Fargo was $285,076 in June 2024, up 2.1% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $161.8K | $219K | +35.3% |
2 Bedrooms | $174.7K | $184.3K | +5.5% |
3 Bedrooms | $250K | $260.8K | +4.3% |
4 Bedrooms | $338.5K | $337.6K | -0.3% |
5+ Bedrooms | $511K | $489.9K | -4.1% |
Summary: Fargo housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.3%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 4.3%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes decreased by 4.1%.
Median Sold Price Compared To Nearby Cities
Fargo | $279.2K | $285K | +2.1% |
West Fargo | $328.3K | $329.5K | 0.4% |
Housing Supply in Fargo, ND
How many homes are available in Fargo, ND?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
1,143 | 1,184 | +3.6% |
Summary: The Fargo real estate market had 1,184 homes for sale in June 2024, a 3.6% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 25 | 31 | +24.0% |
2 Bedrooms | 156 | 174 | +11.5% |
3 Bedrooms | 388 | 411 | +5.9% |
4 Bedrooms | 386 | 372 | -3.6% |
5+ Bedrooms | 188 | 196 | +4.3% |
Summary: The Fargo housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 24%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes increased by 4.3%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
253 | 247 | -2.4% |
Asking Price vs. Sold Price
104 Homes Were Sold
Under Asking
67 Homes Were Sold
At Asking
76 Homes Were Sold
Over Asking
Summary: A total of 247 homes were sold or pending in Fargo in June 2024, down by 2.4% month-over-month. Of the 247 sold homes, 42% were sold under asking, 27% were sold at asking, and 31% were sold over asking.
Days on Market for Fargo, ND
How long does it take to sell a home in Fargo, ND?
Breakdown of Home Sale Times
97 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During June 2024, 247 homes were sold in Fargo; 39% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.