Here’s a look at the Sioux Falls Real Estate Market for June 2019. According to statistics from the REALTOR® Association of the Sioux Falls Empire, Inc., new home listings are on the rise along with closed home sales. Read more about this month’s real estate market trends.

👀 A Look at Housing Stats

We began the month of June with the median sale price for homes in Sioux Falls at $209,900. This amount shows a decrease from the $213,000 recorded last month and a drop of 0.8 percent from the $211,500 this time last year.

Real Estate Market Report Concept with hand over model house

The average sales price for homes in Sioux Falls is $232,366 for this month, which is down slightly from the $238,598 in May. We see a drop of 3.6 percent from the $240,996 in June 2018.

There were 375 condominiums and single-family homes sold last month in Sioux Falls, which is up 8.7 percent from the 345 sold this time last year. This is good news for both home buyers and sellers in the Sioux Falls area.

📊 What Does this Data Mean?

We entered June with 993 active listings of homes for sale in Sioux Falls. This number is up from the 910 active listings last month but down 16.3 percent from the 1,187 in 2018. The good news is that we are seeing an improvement for the second month in a row in the Sioux Falls real estate market area.

The inventory for real estate in Sioux Falls is showing a 3.4 month supply of homes on the market for potential home buyers. This number is down from last year when the inventory supply was 4.1 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 512 new listings added to the Sioux Falls real estate market inventory last month. There’s an increase in new listings recorded for the last three months, with last month’s new listings at 451. A comparison to last year’s statistics reveals that numbers were much the same this month in 2018.

New Home Buyers Representing Home Buyers in Sioux Falls

The trend of new homes being added to the market continues the upward climb, which is great news for buyers who were disappointed with the limited inventory the beginning of the year. Stay in the know when new homes are listed by signing up for email alerts that bring those new arrivals right to your email inbox so you can act quickly.

💵 What does this mean for Sioux Falls home sellers?

Sellers are currently receiving 99.2% of their original asking price. Homes are staying on the market an average of 83 days, which shows an improvement of 3.6 percent from this time last year.

Real Estate Agent with Home Sellers

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 $232,366 or less.

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Sioux Falls Real Estate Market Report - June 2019
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Sioux Falls Real Estate Market Report - June 2019
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Closed sales on Sioux Falls homes for sale rose 8.7 percent from last year. Read more about this month’s real estate trends in the June 2019 market report.
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RL Real Estate
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