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Selling a home? Click here for a FREE Home Price Evaluation
Call us at (605) 413-4868 for a FREE home buying or selling consultation
Hey there, thanks for joining us on our blog today. We are here to give you an update on the Sioux Falls real estate market to let you know what has been going on lately in the area.
Right now, we are in a hot seller's market in Sioux Falls. Our inventory is down about 20% from last year, and our average sales price has risen from $180,000 to $201,000 this year alone. The average days on market is also down, but most homes that come on the market priced correctly stay on the market less than a week.
If you're looking for a home in the $50,000-$200,000 range, we have less than a 3-month supply available of those homes. A balanced market is around 6 months, so our lack of inventory confirms we are in a seller's market. In some of the upper price ranges, however, we actually have a 22-month supply of inventory, putting us squarely in a buyer's market.
It's still a great time to buy due to low interest rates, so if you are out there searching, you have more buying power now than you would if rates were to rise, even by half a percent.
Thanks so much for joining us today. If you have any questions, or would like any advice on buying or selling in Sioux Falls, give us a call or send us an email. We would love to speak with you!
Right now, we are in a hot seller's market in Sioux Falls. Our inventory is down about 20% from last year, and our average sales price has risen from $180,000 to $201,000 this year alone. The average days on market is also down, but most homes that come on the market priced correctly stay on the market less than a week.
If you're looking for a home in the $50,000-$200,000 range, we have less than a 3-month supply available of those homes. A balanced market is around 6 months, so our lack of inventory confirms we are in a seller's market. In some of the upper price ranges, however, we actually have a 22-month supply of inventory, putting us squarely in a buyer's market.
It's still a great time to buy due to low interest rates, so if you are out there searching, you have more buying power now than you would if rates were to rise, even by half a percent.
Thanks so much for joining us today. If you have any questions, or would like any advice on buying or selling in Sioux Falls, give us a call or send us an email. We would love to speak with you!
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That come on the market priced correctly stay on the market less than a week.Mobile homes for sale
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