The Minot ND Housing Picture, Trouble in Boom Town

Homes for sale under $100,000.00 as of 07/13/2009 = 8
Homes for sale between $100,000.00 and $124,999.00 as of 07/13/2009 = 7
Homes for sale between $125,000.00 and $149,999.00 as of 07/13/2009 = 15
Homes for sale between $150,000.00 and $174,999.00 as of 07/13/2009 = 17
Homes for sale between $175,000.00 and $199,999.00 as of 07/13/2009 = 19
Homes for sale between $200,000.00 and $249,999.00 as of 07/13/2009 = 28
Homes for sale over $250,000.00 as of 07/13/2009 = 39

AS OF 07/13/2009 THERE ARE EXACTLY 133 HOMES FOR SALE IN THE CITY LIMITS OF MINOT*

Only 30 homes under $150,000.00.

*Single family, active status, not counting pending sales.

Real Estate sales are a challenge no matter what the conditions are in any area. For most Real Estate agents across the nation the question on their mind is "where am I going to find a buyer?" and "How low do we need to go to sell this listing?". Over the last two years the questions in Minot ND are the exact opposite due to a severe housing shortage. We are experiencing a US Air Force Base expansion and an Oil Boom. In a town of 35,000 there is not an apartment vacancy to be found and homes that sold for $30,000 two years ago are now selling for $100,000. A word to those about to move here and what to purchase a home. Get a Realtor NOW, check your emails daily from that Realtor, and don't think for a minute that any home priced under $150,000 will stay on the market longer then a week unless it is over priced for one reason or another.