Here’s a look at the Sioux Falls Real Estate Market for May 2019. According to statistics from the REALTOR® Association of the Sioux Falls Empire, Inc., closed homes sales rose last month but are still showing a decrease when compared to last year’s numbers. Read more about this month’s real estate market trends.
👀 A Look at Housing Stats
We began the month of May with the median sale price for homes in Sioux Falls at $213,000. This amount increased from the $201,000 recorded last month and up 0.7 percent from the $211,500 this time last year.
The average sales price for homes in Sioux Falls is $238,598 for this month, which is down from the $241,116 in April. We see a drop of 3.1 percent from the $246,112 in May 2018.
📊 What Does this Data Mean?
We entered May with 910 active listings of home for sale in Sioux Falls. This number is up from the 844 active listings last month but down 17.9 percent from the 1,108 in 2018.
💲 What does this mean for Sioux Falls home buyers?
There were 451 new listings added to the Sioux Falls real estate market inventory last month. There’s an increase in new listings recorded for the last two months, with last month’s new listings at 347. When compared to last year’s 433 new listings this same month, we see an increase of 4.2 percent.
With more new homes hitting the market, you want to be in-the-know as soon one is listed to move quickly and step ahead of other buyers. Signing up for email alerts 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 99.5% of their original asking price, which is up from last month. Homes are staying on the market an average of 84 days, which is down 6.5 percent from this time last year.