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.
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.
📊 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.
💲 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.
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.