$2,826 Closing Credit*
$238,000
2,364 SqFt
5 Beds
•1 Full Bath
Listing Office: Town & Country Realty
Is Fargo, ND a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Fargo has remained a Seller's Market.
Key Takeaway
Fargo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fargo, ND
How much do homes in Fargo, ND cost?
Median Sold Price
$295,743
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$16,055(+5.7%)
Key Takeaway
Homes in Fargo have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in Fargo was $295,743 in October 2024, up 5.7% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $191.8K | $170K | -11.4% |
| 2 Bedrooms | $181.5K | $187.3K | +3.2% |
| 3 Bedrooms | $255.2K | $265K | +3.8% |
| 4 Bedrooms | $347.5K | $348.3K | 0.2% |
| 5+ Bedrooms | $489K | $495K | +1.2% |
Summary: Fargo housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.4%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes increased by 1.2%.
Median Sold Price Compared To Nearby Cities
| Fargo | $279.6K | $295.7K | +5.7% |
| West Fargo | $325K | $335K | +3.1% |
Housing Supply in Fargo, ND
How many homes are available in Fargo, ND?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,201 | 1,225 | +2.0% |
Summary: The Fargo real estate market had 1,225 homes for sale in October 2024, a 2.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 49 | 51 | +4.1% |
| 2 Bedrooms | 196 | 202 | +3.1% |
| 3 Bedrooms | 391 | 412 | +5.4% |
| 4 Bedrooms | 366 | 365 | -0.3% |
| 5+ Bedrooms | 199 | 195 | -2.0% |
Summary: The Fargo housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.1%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 5.4%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes decreased by 2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 232 | 218 | -6.0% |
Asking Price vs. Sold Price
107 Homes Were Sold
Under Asking
63 Homes Were Sold
At Asking
48 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fargo, you may be able to get a good deal. 49.1% of homes here sold below asking price last month.
Summary: A total of 218 homes were sold or pending in Fargo in October 2024, down by 6.0% month-over-month. Of the 218 sold homes, 49% were sold under asking, 29% were sold at asking, and 22% 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
57 Homes Were Sold
Under 30 Days
40 Homes Were Sold
In 30 - 90 Days
13 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 October 2024, 218 homes were sold in Fargo; 26% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
