Is Moorhead, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Moorhead has remained a Seller's Market.
Key Takeaway
Moorhead is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Moorhead, MN
How much do homes in Moorhead, MN cost?
Median Sold Price
$253,266
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Moorhead have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in Moorhead was $253,266 in May 2024, up 2.2% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $174.7K | $125K | -28.5% |
| 2 Bedrooms | $190K | $199.9K | +5.2% |
| 3 Bedrooms | $231.9K | $240K | +3.5% |
| 4 Bedrooms | $293K | $291K | -0.7% |
| 5+ Bedrooms | $341K | $335.6K | -1.6% |
Summary: Moorhead housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28.5%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 3.5%, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes decreased by 1.6%.
Median Sold Price Compared To Nearby Cities
| Moorhead Township | $247.5K | $253.4K | +2.4% |
| Moorhead | $247.7K | $253.2K | +2.2% |
| Oakport Township | $365K | $371K | +1.6% |
| Fargo | $279.5K | $281.3K | +0.6% |
| Dilworth | $260K | $224K | -13.8% |
Housing Supply in Moorhead, MN
How many homes are available in Moorhead, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 410 | 464 | +13.2% |
Summary: The Moorhead real estate market had 464 homes for sale in May 2024, a 13.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 72 | 86 | +19.4% |
| 3 Bedrooms | 150 | 161 | +7.3% |
| 4 Bedrooms | 141 | 156 | +10.6% |
| 5+ Bedrooms | 45 | 57 | +26.7% |
Summary: The Moorhead housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 26.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 94 | 80 | -14.9% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Moorhead, you may be able to get a good deal. 47.5% of homes here sold below asking price last month.
Summary: A total of 80 homes were sold or pending in Moorhead in May 2024, down by 14.9% month-over-month. Of the 80 sold homes, 48% were sold under asking, 25% were sold at asking, and 28% were sold over asking.
Days on Market for Moorhead, MN
How long does it take to sell a home in Moorhead, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 24 Days | -26.2% |
Summary: Homes in Moorhead had an average of 24 days on market in May 2024, down by 26.2% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Moorhead are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 80 homes were sold in Moorhead; 33% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
