There are many great Sioux Falls area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (605) 370-5523 for a FREE home buying or selling consultation to answer any of your real estate questions.
Sioux Falls Real Estate Market Update for Fall 2014
We are here today to give you the latest market update on real estate conditions here in the Sioux Empire. We have a lot of information for you today and we hope it will help you navigate our market a little more smoothly.
Right now in Sioux Falls, new listings have increased by 11% over last year and we also have more pending sales. We are currently releasing some of that pent up demand for homes that we saw at the beginning of the year because inventory rates have remained low and jobs have been stable.
Last fall, we had a very successful selling season. In September, October, and November of 2013, we were averaging around 20-30 sales per month in most price ranges, and 50-60 sales a month in the hotter price ranges. We look forward to having that same type of growth and demand in our market this year as well.
Our current average days on market in Sioux Falls is 91, down by 4% from this time last year. Our absorption rate is telling us we have more of an even keel market. In some price ranges, we have under a 6 month supply of inventory, while in higher price ranges we have as much as an 18 month supply.
If you have any questions about the market or what your home may be worth in this market, give us a call or send us an email. We'd be glad to help you out.
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ReplyDeleteIf you have any questions about the market or what your home may be worth in this market, give us a call or send us an email.
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