Here’s a look at the Sioux Falls Real Estate Market for February 2019. According to statistics from the REALTOR® Association of the Sioux Falls Empire, Inc., the number of new listings to come on the market is on the rise. Read more about this month’s real estate market trends.

👀 A Look at Housing Stats

We began the month of February with the median sale price for homes in Sioux Falls at $212,500. This is up from the $205,000 we noted last month and up 9.6 percent from the median sale price of $193,950 this time last year.

real estate market concept with real estate agent pointing to key over percent and dollar signs

The average sales price for homes in Sioux Falls is currently $249,377. This amount is up 8.4 percent from last year’s $230,090.

There were 135 condominiums and single-family homes sold last month in Sioux Falls, which is down 7.5 percent from the 146 sold this time last year and shows a drop from the 176 sold last month.

📊 What Does this Data Mean?

We entered February with 735 active listings of home for sale in Sioux Falls. This number is down from the 757 active listings in January and down 19.4 percent from the 912 in February 2018.

The inventory for real estate in Sioux Falls is showing a 2.5 month supply of homes on the market for potential home buyers. This number is down from last year when the inventory supply was 3.2 months. For the real estate market to be considered balanced, there must be a 6-month supply of inventory.

💲 What does this mean for Sioux Falls home buyers?

real estate agent holding house cutout

There were 281 new listings added to the Sioux Falls real estate market inventory last month. This number is on the rise again from the 153 new listings in last month’s report, but the number is down 10.2 percent from the 313 new listings this month last year.

With the number of new listings on the market increasing, it’s a great time for buyers in Sioux Falls to get alerted immediately when a new home is listed. This alert can give you an advantage over other buyers who aren’t taking the time to get these important notices.

💵 What does this mean for Sioux Falls home sellers?

for sale sign with sold sticker

Sellers are currently receiving 98.3% of their original asking price, which is down slightly from last month. Homes are staying on the market an average of 89 days, which is down 0.9 percent from this time last year.

If you’re thinking about choosing the for sale by owner option when listing your home, you’ll want to check out our helpful guide. Of course, we look forward to helping you sell your home successfully by helping you set your asking price correctly.

🏘️ 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 $249,377 or less.

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Sioux Falls Real Estate Market Report - February 2019
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Sioux Falls Real Estate Market Report - February 2019
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The average sale price for homes in this area has increased by 8.4 percent from last year. Read more about this month’s real estate market trends.
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RL Real Estate
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