Grand Forks, ND 58203 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. median sold price $242,000 is the primary indicator of recent market value for Grand Forks ZIP 58203; with prices reported as up year‑over‑year, this suggests sustainable appreciation while the marketTemperature remains neutral, implying balanced negotiation leverage between buyers and sellers.
2. median price per square foot $194 combined with a median market rent $960 and a rent year‑over‑year trend of up supports continued investor interest in SFR and condo assets, as rental growth is tracking positively against current sales valuations.
3. total sold properties analyzed 5 indicates the current snapshot is based on a small sample of recent transactions, so reported medians should be interpreted with medium confidence and may not fully capture broader neighborhood heterogeneity; transaction volume appears moderate and may indicate pricing friction between seller expectations and closed values.
4. interest rate pressure low and current mortgage context—Current 30-year fixed mortgage rates for properties in Grand Forks, ND, are averaging between 6.2% and 6.6%, reflecting a market environment where rates remain elevated compared to historical lows—suggests financing conditions are less restrictive than periods of high rate pressure and may continue to support steady demand if rates hold or decline.

Notable Properties

The following 6 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.