As we prepare to welcome the new year, it’s the perfect time to reflect on the milestones we’ve achieved and set our sights on the opportunities ahead. Whether you’re planning to buy your first home, upgrade your space, or explore the market, 2025 is brimming with potential. Let’s take a look back at 2024’s biggest real estate trends and what they mean for you in the coming year!
Lessons from 2024: Grand Forks Real Estate in Review
This past year brought growth, challenges, and big wins for the Grand Forks housing market. Despite higher interest rates and tight inventory, buyers and sellers adapted with creative strategies. Here’s what stood out:
1. Interest Rates Held Steady
Mortgage rates hovered near 7%, higher than previous years, however buyers found ways to stay competitive. Adjustable-rate mortgages (ARMs) and rate buydowns became popular options.
What This Means for You: If rates remain steady in 2025, consequently affordability will still be key. Partnering with a knowledgeable agent (hello, that’s me!) can help you navigate loan options that fit your budget.
2. Inventory Stayed Tight, But Opportunities Sparkled
Low housing inventory didn’t stop determined buyers. Many opted for smaller homes, while others jumped on fixer-uppers to create their dream spaces. Sellers in Grand Forks enjoyed steady demand, particularly for well-maintained homes priced below $300,000.
Insider Tip: If you’re looking to sell, my Home Selling Guide is packed with tips to make your listing irresistible—even in a competitive market.
3. Military Moves and Relocations Kept the Market Busy
Grand Forks’ military community played a pivotal role in keeping our market active. Proximity to the base and family-friendly neighborhoods remained top priorities.
I worked with a military family this summer who needed a quick close. Thanks to thorough planning and a trusted lender, we found them a home within 45 days—proof that teamwork and preparation pay off!
Your 2025 Real Estate Playbook
1. Be Ready Before Spring Rush
Spring is traditionally the busiest season for real estate, and competition heats up fast. Start early by:
- Getting pre-approved for a mortgage.
- Downloading my Ultimate Home Buying Guide to plan your search.
- Defining your “must-haves” and “nice-to-haves.”
2. Consider New Builds and Renovations
New construction is gaining momentum in Grand Forks, offering buyers the chance to customize their dream home. If new builds are out of reach, renovations remain a fantastic option to add value and charm.
Insider Tip: Ask about local incentives or grants for energy-efficient upgrades—many are available in North Dakota!
3. Watch for Shifts in Real Estate Market Trends
As we enter 2025, expect moderate price increases and steady demand. If interest rates drop, buyer activity may surge, so acting early could save you money and stress.
Living Legendary in North Dakota
Grand Forks isn’t just a place to live—it’s where legendary lives are built.
Ready to make 2025 the year of new beginnings in real estate? Whether you’re upsizing, relocating, or investing, 2025 offers endless possibilities to find your perfect home. Let’s turn your goals into reality. Contact me today to start planning your next move—your dream home is just around the corner!
Let’s make this year legendary together.
