Minot North Dakota Housing Shapshot.
WHAT'S FOR SALE IN MINOT?
Homes for sale under $100,000.00 as of 01/27/2010 = 3
Homes for sale between $100,000.00 and $124,999.00 = 3
Homes for sale between $125,000.00 and $149,999.00 = 9
Homes for sale between $150,000.00 and $174,999.00 = 7
Homes for sale between $175,000.00 and $199,999.00 = 14
Homes for sale between $200,000.00 and $249,999.00 = 24
Homes for sale over $250,000.00 = 15
AS OF 01/27/2010 THERE ARE EXACTLY 75 HOMES FOR SALE
IN THE CITY LIMITS OF MINOT*
Only 6 homes under $125,000.00.
There are 118 pending sales
*Single Family, active status
Minot ND has a very unique housing market. In general it is the total opposite of the rest of the nation. We have a sever housing shortage and we have had a shortage for about 10 years. Our situation began when the nearby USAF Base started to replace older housing units by tearing them down first and then building later. Then the base operations doubled bringing in one or two thousand more troops and their families (remember the base already was without adequate housing before bringing in these additional troops). Then certain conditions came up that made extracting the oil under Western ND very favorable and all of a sudden we needed about 10,000 workers to help extract the oil. Along with those 10,000 more people were needed for every kind of work imaginable as new companies and jobs opened up. Now we could most likely use another 10 to 20,000 as things just keep growing and growing.
It is a sellers market of the strongest kind here in Minot. There are NO rentals to be had. The rentals have all about doubled in price. Home prices have skyrocketed and as you can see above, in a City of about 35,000 people we only have 75 homes on the market. At this time you are lucky to even be able to rent a motel room in Minot.
It is more important then ever to have a full time Realtor helping you find a home here in Minot. Reasonably priced listings often sell in hours. You need a Realtor who can keep a constant eye on the available listings for you and alert you when they pop up. Most local Real Estate websites are not able to keep up with the hectic changes taking place and thus many of the listings you see are already sold. If you want an accurate picture of the market please give me a call and I can email you listing that are current and in the price range you are seeking. Be realistic, it's a sellers market, there is very little chance of finding a "bargain" and NO chance of finding owner financing in this particular market.
FREE, 1 HOUR 1st time Home Buyers information seminar Sunday January 30th @ 3:00 PM. Open question forum with a Lender, Home Inspector, Insurer, VA Representative, and Bob Timm of Oak Park Realty. Limited seating, call to reserve your seat today. 720-8513