It’s hard to believe 2025 is already halfway over. If I’m being honest, this year has tested us in more ways than one - both personally and professionally. On the home front, our family has been navigating some difficult medical challenges. And on the business side, the real estate landscape has been anything but smooth sailing. High interest rates have continued to cool buyer demand, inventory levels remain low across North Dakota, and the recent drop in oil prices has added another layer of uncertainty for many families and business owners in our region.

That said, there’s a lot to be grateful for. Despite these challenges, our team at Proven Realty has continued to show up and serve. So far this year, we’ve helped over 150 families and businesses buy, sell, lease, and invest in real estate. That’s 150 opportunities to guide people through important transitions and decisions, something we never take for granted and appreciate.

Market Pulse – July 2025

Here’s what we’re seeing right now:

• Interest Rates: Rates are holding in the 6.5 to 7 percent range. While this continues to impact affordability and buyer behavior, many are still moving forward, especially those with strong motivations to buy or sell. If you are in the market to purchase, PLEASE choose to work with an experienced local lender. We have witness too many deals to count fall apart in the last week because the buyers chose to work with an out of state lender who doesn't understand the local market, overtime & per diems, and other nuances. 

• Inventory: Listings remain tight, particularly for move-in-ready homes under $400,000. Homes that are priced correctly and marketed well are still selling quickly, with motivated buyers ready to act. In June, our team competed in a 30 Open Houses in 30 Days challenge and it was exciting to see how many buyers are out there looking to change their lives. Unfortunately, for them, its a wicked game of musical chairs and its frustrating to watch them lose out to higher bids with less contingencies.

• Oil & Energy: The recent dip in oil prices has slowed some relocation activity and job growth in the Williston and Watford City areas. However, we remain optimistic. North Dakota has proven time and again that it can withstand these cycles - and we continue to be one of the world’s economic bright spots. The oil markets will remain volatile and the recent diversification in industries & projects here will help stabilize the fluctuations. 

• Commercial & Industrial Market: We’ve seen steady demand from small and mid-size businesses looking for retail, office, and shop space. It’s encouraging to see entrepreneurship thriving even in a more cautious environment. 

Looking Ahead

If you’re considering a move - whether it’s buying, selling, or investing - now is the time to get clear on your options. With market conditions evolving every month, having a local expert in your corner can make all the difference. Even if you’re just in the planning stage or curious about what your property might be worth, let’s talk. We’re here to offer perspective, strategy, and answers - no pressure, just honest guidance. 

Reach out anytime to schedule a conversation. We'll meet you where you are, and help you prepare for what’s next.