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.
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.
📊 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.
💲 What does this mean for Sioux Falls home buyers?
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?
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.