Here’s a look at the Sioux Falls Real Estate Market for December 2019. According to statistics from the REALTOR® Association of the Sioux Falls Empire, Inc., the median price of homes for sale in Sioux Falls is up 14.6 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 December with the median sale price for homes in Sioux Falls at $228,050. This amount shows an increase from the $225,000 recorded last month and an increase of 14.6 percent from the $198,950 this time last year.
The average sales price for homes in Sioux Falls is $254,479 for December, which is up slightly from the $253,515 last month. We see an increase of 9.7 percent from the $231,945 this month in 2018.
📊 What Does this Data Mean?
We entered December with 901 active listings of homes for sale in Sioux Falls. The number of active listings is down 11.1 percent from 1,014 in 2018. Last month, we had 1,014 active listings in Sioux Falls.
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💲 What does this mean for Sioux Falls home buyers?
There were 255 new listings added to the Sioux Falls real estate market inventory last month. The number of new listings is showing a marked drop from last month’s 452. Though down by 5.2 percent from last year’s 269, the numbers show consistency when compared year over year.
If one of your goals is to purchase a new home in 2020, you’ll want to stay on top of new listings in Sioux Falls by signing up for free e-mail alerts. Simply put in your search criteria, and we’ll let you know when a new home comes on the market that meets your needs.
💵 What does this mean for Sioux Falls home sellers?
Sellers are currently receiving 98.8% of their original asking price. Homes are staying on the market an average of 80 days, which is up 1.8 percent from last year’s 78 days.