$8,906 Closing Credit*
$750,000
4,050 SqFt
5 Beds
•2 Full Baths
Listing Office: Prime Realty
Is Fargo, ND a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
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.
Housing Prices in Fargo, ND
How much do homes in Fargo, ND cost?
Median Sold Price
$297,829
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$16,607(+5.9%)
Key Takeaway
Homes in Fargo have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in Fargo was $297,829 in November 2024, up 5.9% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $192.7K | $170K | -11.8% |
| 2 Bedrooms | $185K | $184K | -0.5% |
| 3 Bedrooms | $256.1K | $265.1K | +3.5% |
| 4 Bedrooms | $349.3K | $348.5K | -0.3% |
| 5+ Bedrooms | $489.9K | $489K | -0.2% |
Summary: Fargo housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.8%, 2 bedroom homes decreased by 0.5%, 3 bedroom homes increased by 3.5%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes decreased by 0.2%.
Median Sold Price Compared To Nearby Cities
| Fargo | $281.2K | $297.8K | +5.9% |
| West Fargo | $325K | $339.3K | +4.4% |
Housing Supply in Fargo, ND
How many homes are available in Fargo, ND?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1,196 | 941 | -21.3% |
Summary: The Fargo real estate market had 941 homes for sale in November 2024, a 21.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 51 | 52 | +2.0% |
| 2 Bedrooms | 199 | 159 | -20.1% |
| 3 Bedrooms | 400 | 314 | -21.5% |
| 4 Bedrooms | 353 | 285 | -19.3% |
| 5+ Bedrooms | 193 | 131 | -32.1% |
Summary: The Fargo housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 2%, 2 bedroom homes decreased by 20.1%, 3 bedroom homes decreased by 21.5%, 4 bedroom homes decreased by 19.3%, and 5+ bedroom homes decreased by 32.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 227 | 109 | -52.0% |
Asking Price vs. Sold Price
52 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fargo, you may be able to get a good deal. 47.7% of homes here sold below asking price last month.
Summary: A total of 109 homes were sold or pending in Fargo in November 2024, down by 52.0% month-over-month. Of the 109 sold homes, 48% were sold under asking, 26% were sold at asking, and 27% were sold over asking.
Days on Market for Fargo, ND
How long does it take to sell a home in Fargo, ND?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 37 Days | 48 Days | +30.8% |
Summary: Homes in Fargo had an average of 48 days on market in Nov 2024, up by 30.8% compared to last year.
Breakdown of Home Sale Times
57 Homes Were Sold
Under 30 Days
34 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Fargo are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 109 homes were sold in Fargo; 52% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
