Home Value Trends in North Dakota


For many months now everyone has heard of the real estate market failure or slippage priced home values, thanks to the media and industry experts blasting and pessimistic forecasts about the real estate market all over the place. However, we # 39; in so accustomed to the extremely fast growing market, we have forgotten what a regular or a little slow market looks. The real estate market is definitely not as bad as it looks, though, to get the specifics, you should look at the individual segments of the market. Knowing that the nation & # 39, S median house will not be much help if you & # 39; re looking to buy or sell a home. (Although, if you & # 39; re interested, the median value of homes in the United States in 2006 was about $ 221,900).

Property with & # 39 is an investment, and a large one at that, and # 39; It s important to think about where the market and the cost price of the house will be more than the span of 10 years, when it comes to moving to a new area. Looking at the economy, employment, jobs and attractions of a particular area, you can get a much better idea of ​​where the cost of housing prices and the overall market is headed.

North Dakota (Capital: Bismarck) does not state often hinted in the news, but one that has a lot to offer regardless. With reliable small population of 635.867 in 2006 to a wide state, North Dakota has wide open spaces and wild animals enough for any adventurer. State & # 39; s agricultural economy hard, wheat, cattle, barley, sunflower, milk and sugar beet from the & # 39 is that it & # 39; s main products. North Dakota & # 39; basic industrial services & # 39 are s food industry, mechanical engineering, mining and tourism. Diverse economy and relative rural-ness States retain the price value of the house in a highly affordable price.

Hiking with & # 39 is one of the main factors in the real estate market and the cost of the house rate of any region. The more popular the area, the more likely to see a large increase in population, and the demand for housing in this area will lead to a fast-growing market, and # 39; Always good for the state to play its tourism aspect. North Dakota has a lot of historical and cultural attractions to offer visitors, with several different American Indian (including Sioux) that occur in this area. State full of adventure activities such as hiking, biking, camping, boating, sailing, skiing, wildlife viewing, fishing, and much, much more. National and state parks have many, and North Dakota has plenty of family-friendly activities, such as museums, arcade, racing, entertainment centers, water parks, zoos, etc. Family attractions are always a great attraction for the seven & # 39; ads, and more family & # 39; and the area, the better its real estate market.

With an unemployment rate of about 3.3% in April and the median household income of about $ 41,000 in 2005, from North Dakota is not & # 39 is one of the wealthiest states in America, but it has lower living expenses. In April 2007, the average cost of properties have been sold at home $ 325 831, that is in April, half of the homes have been sold to more high value of the house, and the other half were below. The average estimated cost of the house was about $ 152,011, and the average value of single-family homes & # 39; and a house, apartment or townhouse in 2006 amounted to about $ 164,601, keeping the house at an affordable price in the state.

The main value rates rose steadily from 2005-2006, and continue to do so, albeit more slowly through the cities and more than 2007 settlements, as a rule, the average cost of higher prices at home and in accordance with the real professionals in the field of real estate in the Bismarck area market continues to show steady growth, the price of the home price continues to rise in many subsections and a good balance of buyers and sellers, which come on the market.