Minot Market
Market Trends
Commentary Provided by Clyde Thorne
Kenmare will be a hot spot next year when the energy company starts the wind energy park consisting of 1.2 million acres.
| Report Date |
Spring 2010 |
|
| Nearest Metro Area |
Minot |
|
| Buyers’ or Sellers’ Market |
Equal buyers and sellers |
|
| Average Time on Market |
60-90 days |
|
| Market Trend |
Increasing |
|
| Housing Inventory |
Good supply - Some Prices |
|
| Inventory Comments |
Housing inventory increases during the winter and will see a lot of them sold early Spring. During this time frame, you will see prices increase. There are more homes available now under the $150,000 range |
|
| Average Home Price |
$200,000 |
|
| Compared to Last Year |
Up 0-5% |
|
| Best Selling Price Range |
$150,000 - $199,000 |
|
| Worst Selling Price Range |
$350,000 - $399,000 |
|
| Prices As % of Asking Price |
95-100% |
|
| Multiple Offers? |
No |
|
| Greatest Activity |
First Time Buyers |
|
| Buyer Activity for the past 90 days in Minot is |
No Change |
|
| Seller Activity for the past 90 days in Minot is |
Increasing |
|
| Is Financing Available For Qualified Buyers in Minot? |
Yes |
|
| Comments on Financing For Qualified Buyers |
First time home buyers, conventional, and VA loans are still available. |
|
| Existing Home Prices for the past 90 days are |
Increasing |
|
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? |
0-5% |
|
| Housing Hot Spots |
Minot, Burlington, Surrey, Kenmare, Velva |
|
| Reason to Buy/Sell |
Good economic news |
|
| Average Sold Price |
$200,000 |
|
|