Amber Carlton is a top-performing North Dakota real estate agent who works with over 71% more single-family homes than the average Fargo agent. When balancing these pros and cons, she advises sellers to place the most weight on proceeds. “Usually, these [company offers] are way low compared to what you could get on the market selling with a Realtor,” she says, estimating that “$50,000 to $100,000 or lower is common for what we have seen in our market.”
Jenny Downey, another top agent in the Dakotas, agrees, acknowledging that selling to a house-buying company “might be a quick solution for you if you’re just not able to get your house in a condition to sell, but you’re also going to see a much lower price compared to if you listed it on the market with an agent.”
Both agents recommend pausing just long enough to get an agent’s opinion before you commit to a cash-for-homes business.
“Always contact a trusted Realtor to see what your property might sell for on the market,” Carlton advises. “In certain situations, [the cash sale] might still be beneficial for the seller; however, knowing what both options look like prior to making a decision is critical.”
Option 2: Hire a top North Dakota real estate agent
Even when you’re facing a deadline to sell your North Dakota home, partnering with a seasoned real estate agent can be a game-changer. A top-notch agent is skilled in navigating the unique dynamics of the state’s housing market, guiding you toward a quick and successful sale.
Let’s take a brief look at the current market conditions in North Dakota, explore the advantages of selling with a real estate professional, and learn how to identify a top-performing agent in your neighborhood.
How fast are homes selling in North Dakota?
In North Dakota, the median days on market (DOM) — the time from listing to having a signed contract — currently ranges from 51-54 days. For sellers making plans, it’s important to also take into account the additional 44 days a mortgage-backed buyer typically needs to close on a purchase loan.
However, Carlton says the pace at which North Dakota homes sell can vary significantly based on the home’s condition and price point. “Homes under $300,000 are moving very quickly if they’re priced appropriately for their condition,” she says. “The further over $300,000 you get, the more strategic you will need to be in your listing approach, in regards to pricing and marketing.”
Downey adds that some sellers need to adjust their expectations. “Right now, if a house sits for three weeks on the market, sellers are sometimes panicking and thinking that’s a long time, but that’s not really a long time. Looking back historically, and even only back to 2018, [the DOM] was 94 days. In 2008, homes were sitting for six to nine to 12 months.”
Partnering with a knowledgeable North Dakota agent can provide valuable insights into local trends and buyer behaviors.
Is the North Dakota market favoring home sellers?
“We have a surplus of people moving into our market,” Carlton says. “We are a low-tax state with a lot of job opportunities. Our growth has been exponential with our businesses, recreation, commercial, and residential opportunities. This is creating a very real issue with affordable housing in our market with our low inventory. However, this is beneficial for sellers in our market.”
Benefits of selling with a top North Dakota agent
Choosing to sell your North Dakota home with the help of a top agent can unlock numerous advantages, particularly if you’re seeking a swift sale. Let’s look at how these benefits can lead to a faster home sale:
