Bismarck Housing Market - April 2022

by Rebecca Sabot / Copyright © 2022

Hopes for a lot of new inventory in April were not fulfilled. The week long blizzard event certainly kept some sellers from putting their homes on the market. Buyers need to move even faster than last year as the median days on the market is down a whopping 38% over last April. Inventory is down compared to last year with a 12.9% drop for year to date active listings compared to last year. This is great news for sellers but not very good to hear if you are a buyer. Homes are selling faster and there are less of them than last year at this time. Average and median days on the market has dropped compared to last year and so has the number of new listings. Last month, April 2022, there were 158 new listings in Bismarck down from 182 in April of 2021. It’s no surprise to see that average and median home prices have also jumped in response to this lack of inventory. Luckily just a small increase over last year with the average list price up 3.8% over last year.

If you want to buy a home this year make sure to act fast and be ready to write your offer quickly. When selling remember, you are in the drivers seat. Whether you are a buyer or seller, reach out if you want to work with a realtor experienced in making the most of multiple offer situations.

Data provided by the Bismarck Mandan Board of REALTORS®