CONNECTION | FEATURE “It started with a fear factor both for the consumers and our realtor members,” said Jill Beck, CEO for North Dakota Association of Realtors. “Were they going to be able to continue? They were cautious, but they were aware they still had a job to do.” The average sale price of a single-family home jumped to $271,707 in 2020. Popular price ranges included $200,000-$250,000 and $250,000-$300,000. Deichert said there was also activity in the $140,000-$180,000 price range, which included houses that could be flipped. Mobile home sales were up as well. Homes over $500,000 tend to stay on the market longer, and that trend is unchanged.
Sales in Bismarck, Mandan, and Lincoln Includes single family, condos, duplexes, townhomes, twin homes.
UNITS SOLD 1643 1468
1236
1290
1356
1362
1363
2015
2016
2017
1373
1323
1153
“It was a good market for both sellers and buyers,” Beck said. “Sellers wanted to move up or move down. There were a lot more younger buyers coming into home ownership due to the low interest rates. People were relocating who wanted to get out of big cities and come to a more rural area.” Last year also saw an increase in the number of licensed real estate agents. Bismarck-Mandan Board of Realtors had 50 new agents come into the association in 2020. One reasons could be a change in licensing requirements that took effect on Jan. 1, 2021. The pre-licensing education requirement was 45 hours of classroom education through 2020. On Jan. 1, the number of pre-licensing education hours doubled to 90.
2011
2013
2014
2018
2019
2020
AVERAGE SALE PRICE 248,631
With an increase in licensed agents, Deichert also saw an increase in the number of new agencies last year. “I will be really curious to see what happens in 2021,” Deichert said.
2012
254,711
249,875 253,692
260,049
264,689
271,707
227,393 201,357 177,877
No one has a crystal ball for 2021, but Deichert said she is feeling “pretty good” about the new year. “Hopefully they don’t get scared off if (interest rates) go over 3 percent,” Deichert said.
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Source: Bismarck-Mandan Board of Realtors
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