Market Update

Dated: 05/17/2019

Views: 200

This week I want to fill you in about what is going on in the marketplace! The first quarter of the year has flown by.  Let's take a look!Image title

From January 1st to April 30th, 162 (single family) homes have sold in Bismarck. When comparing apples to apples, that is only 10 homes behind the same time frame just a year ago, equaling a 5% decrease in the number of homes sold. Mandan (single family) has had 47 homes sell this year which is down about 22% in comparison to last year. 

Let's break it down even further!

In the month of April 2019, 46 families bought a new home in Bismarck! (Which means there were 46 home sales ;) ) If you are searching for a home in Bismarck, I have some good news for you! There are 197 homes actively on the market in addition to 120 homes pending. We have a very healthy market! Now, this doesn't mean that homes will sell overnight, in a week, or even a month. As always, every home is different but the average marketing time is 93 days. I do have to say, with the warmer spring weather FINALLY heating up, we are noticing an increase of activity in the marketplace! Now is a GREAT time to buy and sell! To all the families looking for homes in Mandan, this is for you! 13 homes sold in April, 43 homes are currently pending (in the contingency period) , and 104 homes are active on the market waiting for a new owner! Lincoln may be a small suburb in the Bismarck/Mandan area, but it is definitely not forgotten about. There were 17 homes that sold in April, 12 are currently pending, and 20 homes are listed and ready to sell. 

Let's talk money. What are homes selling for these days? Let me fill you in! 

Average Sales Price Year to Date

Bismarck | $282,628

Mandan | $256,161

Lincoln | $237,028

I could talk forever about the market but I will leave it at this short overview. I have all this information AND MORE in this months newsletter complete with graphs and charts :)  If you don't get our newsletters, shoot me an email and I will send one to you! My email is haley@terry4homes.com.

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