Here’s a look at the Sioux Falls Real Estate Market for August 2019. According to statistics from the REALTOR® Association of the Sioux Falls Empire, Inc., the average price of homes for sale in Sioux Falls is up 10.9 percent when compared to last year. Read more about this month’s real estate market trends.
👀 A Look at Housing Stats
We began the month of August with the median sale price for homes in Sioux Falls at $226,500. This amount shows a decrease from the $229,900 recorded last month, but we see an increase of 7.6 percent from the $210,500 this time last year.
The average sales price for homes in Sioux Falls is $270,921 for this month, which is up from the $269,674 in July. We see an increase of 10.9 percent from the $244,256 in August 2018.
📊 What Does this Data Mean?
We entered August with 1,016 active listings of homes for sale in Sioux Falls. This number is down slightly from the 1,037 active listings last month and down 13.8 percent from the 1,178 in 2018. This is the first dip in active listings within the last three months for the Sioux Falls real estate market area.
💲 What does this mean for Sioux Falls home buyers?
There were 444 new listings added to the Sioux Falls real estate market inventory last month. After four months of seeing an increase in new listings, we’re noticing a drop from last month’s 535 new listings. There’s a decrease of 10.8 percent when compared to last year’s 498 new listed homes.
With the drop in new listings and the decrease in the number of active listings, it’s more important than ever to stay on top of new homes as they hit the real estate market in Sioux Falls. Hold an advantage by signing up for email alerts that deliver fresh listings right to your email inbox. With these alerts, you can act quickly before your competition.
💵 What does this mean for Sioux Falls home sellers?
Sellers are currently receiving 99.5% of their original asking price. Homes are staying on the market an average of 69 days, which shows an improvement of 5.5 percent from this time last year.