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.
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.
📊 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.
💲 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.
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.