Minot Real Estate Market September 2013
Minot North Dakota is located in the North central region of the state at the intersection of Highway 83, Highway 2 and Highway 52. There are currently 587 properties for sale with in the Minot area priced from $32,000 for a mobile home or manufactured property to $10,449,895 for lots and commercial land. Multi family homes top out at $3 million and single-family homes are $1,400,000 as the highest priced home currently in Minot.
The average listing price is about $266,000 and most homes are priced between $150,000 and about $300,000. Your typical two or three bedroom single-family home is priced around $150,000-$250,000.
Overall the average listing price for two bedroom home is about $166,000 which is up about 2 to 3% over last year. A three-bedroom is priced at about $259,000 and a four bedroom is priced at about $293,000 on average. Of course, conditions, location, and lot square footage inside all factor into the listing and sales price of a home in Minot.
Since the start of the school year the average listing price has plateaued at about $260,000 but this summer the market is seen an increase over last year. This is been one of the highest years on record over the last five years. There are fewer listings on the market and more buyers but with the interest rates slowly creeping up some buyers are deterred from buying at this time. However, anything under a 5% interest rate is still considered low so buying now before interest rates get too much higher is a smart move. If you’re considering selling doing so before the winter hits might help not only your sales price but your move as well. Call us if you’re interested in residential or commercial real estate in Minot. We are experts in the area and would love to help you buy or sell residential, commercial, or lots and land. image from local MLS