Here’s a look at the Sioux Falls Real Estate Market for November 2019. According to statistics from the REALTOR® Association of the Sioux Falls Empire, Inc., the median price of homes for sale in Sioux Falls is up 8 percent when compared to last year. Read more about this month’s real estate market trends.
👀 A Look at Housing Stats
We began the month of November with the median sale price for homes in Sioux Falls at $225,000. This amount shows an increase from the $212,900 recorded last month and an increase of 8 percent from the $208,250 this time last year.
The average sales price for homes in Sioux Falls is $253,515 for November, which is down slightly from the $253,658 in October. We see an increase of 4.8 percent from the $241,902 this month in 2018.
📊 What Does this Data Mean?
We entered November with 1,014 active listings of homes for sale in Sioux Falls. The number of active listings is down 10.3 percent from 1,131 in 2018. Last month, we had 1,046 active listings in Sioux Falls.
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💲 What does this mean for Sioux Falls home buyers?
There were 452 new listings added to the Sioux Falls real estate market inventory last month. The number of new listings is showing an increase from last month’s 404. There’s an improvement of 13 percent when compared to last year’s 400 new listed homes.
We understand how busy it gets during the holiday months. You can stay on top of new listings in Sioux Falls by signing up for free e-mail alerts. Simply put in your search criteria, and we’ll let you know when a new home comes on the market that meets your needs.
💵 What does this mean for Sioux Falls home sellers?
Sellers are currently receiving 99% of their original asking price. Homes are staying on the market an average of 79 days, which is an improvement of 4.3 percent from last year.