Here’s a look at the Sioux Falls Real Estate Market for March 2019. According to statistics from the REALTOR® Association of the Sioux Falls Empire, Inc., both the median and the average sale prices for homes are down for this month. Read more about this month’s real estate market trends.
👀 A Look at Housing Stats
We began the month of March with the median sale price for homes in Sioux Falls at $200,000. This amount is down from the $212,500 we noted last month and consistent with the same median sale price for homes this month last year.
The average sales price for homes in Sioux Falls is currently $227,127. This amount is down 4 percent from last year’s $236,542.
📊 What Does this Data Mean?
We entered March with 790 active listings of home for sale in Sioux Falls. This number is up from the 735 active listings last month but down 21.6 percent from the 1,008 in 2018.
💲 What does this mean for Sioux Falls home buyers?
There were 260 new listings added to the Sioux Falls real estate market inventory last month. This number slips slightly from the 281 new listings in last month’s report, and the number is down 14.5 percent from the 304 new listings this month last year.
With the number of new homes arriving on the market in decline, it’s a good idea to be in the know when a new property is listed. Signing up for email alerts when new homes hit the market can give you an edge over others who are looking for the same homes!
💵 What does this mean for Sioux Falls home sellers?
Sellers are currently receiving 98.4% of their original asking price, which is up slightly from last month. Homes are staying on the market an average of 95 days, which is down 9.1 percent from this time last year.