Hereโ€™s a look at the Sioux Falls Real Estate Market for June 2020. According to statistics from the REALTORยฎ Association of the Sioux Falls Empire, Inc., the average sale price for homes in Sioux Falls is up 16.1 percent when compared to stats from this same time last year. Read more about this monthโ€™s real estate market trends.

๐Ÿ‘€ A Look at Housing Stats

We began the month of June with the median sale price for homes in Sioux Falls at $231,625. This amount shows an increase from the $229,900 recorded last month and an increase of 10.3 percent from the $210,000 this time last year.

The average sales price for homes in Sioux Falls is $270,276 for June, which is up from the $263,574 last month. We see an increase of 16.1 percent from the $232.876 this month in 2019.

There were 319 condominiums and single-family homes sold last month in Sioux Falls, which is down -20.8 percent from the 403 sold this time last year. It’s worth noting that sales are still on the rise from last month’s numbers.

๐Ÿ“Š What Does this Data Mean?

We entered June with 924 active listings of homes for sale in Sioux Falls. The number of active listings is down 26.9 percent from 1,264 in 2019. Last month, we had 891 active listings in Sioux Falls.

The inventory for real estate in Sioux Falls is showing a 3.1 month supply of homes on the market for potential home buyers. This number is down from last year when the inventory supply was 4.6 months. For the real estate market to be considered balanced, there must be a 6-month supply of inventory.

๐Ÿ“ฑ Contact RL Real Estate Group

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Whether you’re buying a home or selling a property in Sioux Falls, we can help. Weโ€™ll be with you from the start through the closing and beyond! โ˜Ž๏ธ Call us at 605-212-8431. ๐Ÿ“ฑ You can also text us!

๐Ÿ’ฒ What does this mean for Sioux Falls home buyers?

There were 426 new listings added to the Sioux Falls real estate market inventory last month. The number of new listings is showing a rise from last month’s 380. When looking at numbers year over year, we see a decrease of 22.1 percent.

The best way to stay current on new listings in Sioux Falls is by signing up for free e-mail alerts. Put in your search criteria, and we’ll let you know when a new home comes on the market that meets your needs.

๐Ÿ’ต What does this mean for Sioux Falls home sellers?

Sellers are currently receiving 99.9% of their original asking price. Homes are staying on the market an average of 91 days, which has changed 13.3 percent from the 81 days this month in 2019.

The real estate market is going strong in Sioux Falls with numbers on the rise when it comes to new homes on the market, home being sold, and the average sale price. Know where you stand with the value of your property with an online home estimation that takes just minutes.

๐Ÿ˜๏ธ Sioux Falls Homes for Sale

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 $270,276 or less.

Sioux Falls Real Estate Market Report - June 2020
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Sioux Falls Real Estate Market Report - June 2020
The average price for Sioux Falls homes this month is $270,276. Read more about this monthโ€™s trends in the June 2020 real estate market report.
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RL Real Estate Group
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