2015 was another great year for real estate in the FM area. There were a total of 3,846 total residential units sold, which is an increase of 3% from 2014. The overall average sales price for residential property jumped from $192,467 in 2014 to $214,788 in 2015, which is a 12% increase year over year! While we contribute some of the increase to new construction homes, we also saw a big jump in prices in established neighborhoods in the area.
The rising prices in Fargo/Moorhead are also having a significant effect on prices of rural properties surrounding the area. Some of the biggest price increases have come in smaller communities and rural properties within 20 miles of Fargo.
For more information or detailed information about your neighborhood, please contact the FM Team at 701-491-9010.