Sioux falls continues to be a stable and strong market compared to many other parts of the country. Foreclosure rates remain relatively low, and we continue to maintian a strong economy including a low unemployment rate. I would like to share with you some recent monthly statistics according to the REALTOR'S Association of the Sioux Empire (RASE).
New listings have increased -19.9% since the same time last year. But are only down -8% year to date from the same point last year.
The average sales price for the month of August has decreased 1.4% to $173,453. But down 6.6% over the last year averaging $160,384.
August was a great month for the average time that homes were on the market prior to selling. Averaging 78 days for those that closed this month. This is down 15.3% percent from last year. But so far this year the average has stayed around 95 days on the market for homes, which is an increase of 12 days from the average at this time last year. Median sales price remains as $144,000 in almost exaxt proximity to the same time last year.
No current data on the inventory compared to last year.
Mortgage rates recently dropped and now is a better time than ever to purchase a home or investment property.
Brought to you by:
James C. Johnson
Broker Associate
Legacy Real Estate
I Specialize in Quality Investment Property in Sioux Falls and the surrounding area. If you are looking for investment real estate or commercial office space in the area you can contact me at 605.366.0980, or jjohnson@legacysiouxfalls.com. Also check out our website www.legacysiouxfalls.com, or www.investsiouxfalls.com.
