Grand Forks, ND 58203 Real Estate Market Report

ZIP Code: 58203
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Grand Forks, ND is $280,000, reflecting a stable market environment. The neighborhood has increased up since 2023, indicating a positive trend in property values. With a median price per square foot of $177.52, the market appears to be experiencing moderate price appreciation, supported by strong rental demand and favorable economic conditions.

Transaction activity shows signs of a balanced market, with moderate sales velocity and elevated inventory levels. The current market temperature is classified as neutral, suggesting that while there is some upward pressure on prices, the overall dynamics are stable. The property tax rate stands at 1.15%, which may influence buyer affordability and investment decisions moving forward.

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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.

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Market Metrics

Note: 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.

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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.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Grand Forks, ND are averaging 6.64%, which is 0.72% higher than the average rate of 5.92% seen in early 2026.

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

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Key Findings

1. $280,000 is the median sold price, indicating a stable market with moderate price appreciation.

2. The median price per square foot is $177.52, reflecting consistent value in the housing stock.

3. Rental demand remains strong, with a median market rent of $1,265, suggesting healthy interest in rental properties.

4. The market temperature is neutral, indicating balanced conditions between buyers and sellers.

5. Current interest rate pressure is classified as moderate, which may affect buyer financing options.

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Notable Properties

The following 7 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.