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.

man holdng magnifying glass over home

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.

There were 129 condominiums and single-family homes sold last month in Sioux Falls, which is down 14.6 percent from the 151 sold this time last year and shows a drop from the 135 sold last month.

📊 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.

The inventory for real estate in Sioux Falls is showing a 2.7 month supply of homes on the market for potential home buyers. This number is down from last year when the inventory supply was 3.6 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 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.

couple holding red house and keys

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.

 
Creating a bold marketing plan is a key to success when it comes to selling your home. We can help you put together a plan that includes traditional strategies and modern techniques that include social media platforms like Facebook.

🏘️ 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 $227,127 or less.

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Sioux Falls Real Estate Market Report - March 2019
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Sioux Falls Real Estate Market Report - March 2019
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The average sale price for homes in this area has decreased by 4 percent from last year. Read more about this month’s real estate market trends.
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RL Real Estate
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