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A closer look at the real estate market in the Magic City

Housing market in Minot
Housing market in Minot(kfyr)
Published: Apr. 12, 2021 at 9:11 PM CDT
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MINOT, N.D. – Nationwide, the housing market has been anything but ordinary.

The demand for homes is very high and prices are rising, both true for the Magic City. Local realtors explained that the market is best for those selling homes.

“If you are selling, you are smiling you are in a great spot. If you come on price right it should go fairly quickly. If you are a buyer, it can be extremely frustrating. You have clients that write an offer on a property and get beat because it has multiple offers,” said Andrew Gudmunson with 701 Realty.

Much of the buying interest coming from the drop in interest rates. This makes it more important to have an agent by your side when trying to put in a competitive offer.

“They can be your eyes and ears while you have a job. It is my job to make sure you have the house you want. Not yours, it’s my job and I’m going to help you through that process,” said Amy Rogers with Brokers 12.

Both Roger and Gudmunson explained they cannot predict how much longer the interest rates will stay this low.

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