Here’s a look at the Sioux Falls Real Estate Market for July 2019. According to statistics from the REALTOR® Association of the Sioux Falls Empire, Inc., new home listings are still showing improvement as we move through summer. Read more about this month’s real estate market trends.

👀 A Look at Housing Stats

We began the month of July with the median sale price for homes in Sioux Falls at $229,000. This amount shows an increase from the $209,900 recorded last month and a rise of 4.6 percent from the $218,950 this time last year.

Real Estate Market Trends Concept - House Frame with Dollar Sign

The average sales price for homes in Sioux Falls is $269,674 for this month, which is up from the $232,366 in June. We see an increase of 5.5 percent from the $255,534 in July 2018.

There were 344 condominiums and single-family homes sold last month in Sioux Falls, which is down 18.9 percent from the 424 sold this time last year.

📊 What Does this Data Mean?

We entered July with 1,037 active listings of homes for sale in Sioux Falls. This number is up from the 993 active listings last month but down 10 percent from the 1,152 in 2018. We are seeing an improvement in the number of active listings for the third month in a row in the Sioux Falls real estate market area.

The inventory for real estate in Sioux Falls is showing a 3.6 month supply of homes on the market for potential home buyers. This number is down from last year when the inventory supply was 4 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?

There were 535 new listings added to the Sioux Falls real estate market inventory last month. There’s an increase in new listings recorded for the last four months, with last month’s new listings at 512. There’s an improvement of 8.1 percent when compared to last year’s 495 new listed homes.

Real Estate Agent Showing Home Buyers a Brightly lit home

The struggle home buyers experienced over the last several years is beginning to improve with the number of new homes added to the market increasing. Keep your advantage over those who aren’t actively receiving email alerts that bring those new arrivals right to their email inbox. With email alerts, you can act quickly.

💵 What does this mean for Sioux Falls home sellers?

Sellers are currently receiving 99.6% of their original asking price. Homes are staying on the market an average of 77 days, which shows an improvement of 4.9 percent from this time last year.

Home Sellers sitting with Real Estate Agent

After finding out how much your home is worth, you want to make sure you are setting the asking price competitively the first time. It’s just as important to make sure your home is staged to attract a broad range of potential buyers.

🏘️ 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 $269,674 or less.

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Sioux Falls Real Estate Market Report - July 2019
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Sioux Falls Real Estate Market Report - July 2019
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New property listings in Sioux Falls rose 8.1 percent from last year. Read more about this month’s trends in the June 2019 real estate market report.
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RL Real Estate
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