Hereโ€™s a look at the Sioux Falls Real Estate Market for April 2019. According to statistics from the REALTORยฎ Association of the Sioux Falls Empire, Inc., the median sale price for homes dipped last month, but the number of new listings added to the market increased. Read more about this monthโ€™s real estate market trends.

๐Ÿ‘€ A Look at Housing Stats

We began the month of April with the median sale price for homes in Sioux Falls at $201,000. This amount increased slightly from the $200,000 recorded last month but is down 4 percent from the $210,000 this time last year.

Real estate market concept with man flying on arrow through sky over skyline of city

The average sales price for homes in Sioux Falls is $241,116 for this month, which is up from the $227,127 in March. We also see an increase of 3.6 percent from April 2018.

There were 186 condominiumsย andย single-family homes sold last month in Sioux Falls, which is down 32.9 percent from the 277 sold this time last year, but we are seeing an increase when we compare homes sold last month.

๐Ÿ“Š What Does this Data Mean?

We entered April with 844 active listings of home for sale in Sioux Falls. This number is up from the 790 active listings last month but down 20 percent from the 1,055 in 2018.

The inventory for real estate in Sioux Falls is showing a 2.9 month supply of homes on the market for potential home buyers. This number is down from last year when the inventory supply was 3.7 months. For the real estate market to be considered balanced, there must be a 6-month supply of inventory.

๐Ÿ’ฒ What does this mean for Sioux Falls home buyers?

There were 347 new listings added to the Sioux Falls real estate market inventory last month. The good news is that this number shows a significent increase from the 260 new listings last month. When compared to last year’s 407 new listings this same month, we see a decrease of 15.2 percent.

smiling home buyers with keys and for sale sign with sold sticker

With more new homes hitting the market, you want to be in-the-know as soon one is listed to move quickly and step ahead of other buyers. Signing up for email alerts can give you an edge over others who are looking for the same homes!

๐Ÿ’ต What does this mean for Sioux Falls home sellers?

Sellers are currently receiving 98.8% of their original asking price, which is up slightly from last month. Homes are staying on the market an average of 92 days, which is down 5.1 percent from this time last year.

After finding out how much your home is worth, you want to make sure you are setting the asking price competitively the first time. It’s just as important to make sure your home is staged to attract a broad range of potential buyers.

๐Ÿ˜๏ธ Sioux Falls Homes for Sale

See Additional Reports on the Sioux Falls Real Estate Market.

Here are the most recent home listings just added to the database in the average sale price range for Sioux Falls. All homes here are priced at $241,116 or less.

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Sioux Falls Real Estate Market Report - April 2019
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Sioux Falls Real Estate Market Report - April 2019
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The average sale price for homes in this area increased by 3.6 percent from last year. Read more about this monthโ€™s real estate market trends.
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RL Real Estate
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