Here’s a look at the Sioux Falls Real Estate Market for December 2018. According to statistics from the REALTOR® Association of the Sioux Falls Empire, Inc., the average sale price for homes in this area has increased by 5.3 percent from last year. Read more about this month’s real estate market trends.
A Look at Housing Stats
The month of December began with the median sales price for homes in Sioux Falls at $198,950. This amount is up 4.7 percent from last year’s $190,100, but we are seeing a decrease from last month’s $205,500.
There were 264 condominiums and single-family homes sold last month in Sioux Falls, which is down 3.6 percent from the 274 sold this time last year but shows a decrease from the 294 homes sold last month.
What Does this Data Mean?
December began with 874 homes listed with no offer in Sioux Falls. This number shows a decrease of 17.9 percent from the 1,065 active properties last year, and the number is also down from the 968 active listings last month.
What does this mean for Sioux Falls home buyers?
Sioux Falls had 262 new listings added to the real estate market inventory in November. This number is 8.7 percent lower than the 287 new listings recorded in November 2017 and also shows a drop from last month’s 388 new listings.
Competition is still strong when it comes to finding the right property in Sioux Falls. Taking this step to create saved searches may give you an advantage over other buyers in the area.
What does this mean for Sioux Falls home sellers?
November’s sellers received 99.4% of their original list price. Homes are staying on the market an average of 78 days, which is about the same as we saw this time last year.
Want to give yourself the best chance at a successful sale? Be sure to set your asking price correctly from the start so you don’t delay the sale and lose money on your investment.