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.

Real Estate Market Search Concept

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.

There were 289 condominiums and single-family homes sold last month in Sioux Falls, which is down 5.6 percent from the 306 sold this time last year.

📊 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.

The inventory for real estate in Sioux Falls is showing a 3.6 month supply of homes on the market for potential home buyers. This number is down from last year when the inventory supply was 3.9 months. For the real estate market to be considered balanced, there must be a 6-month supply of inventory.

📱 Contact RL Real Estate Group

We can help!
Whether you’re buying a home or selling a property in Sioux Falls, we can help. We’ll be with you from the start through the closing and beyond! ☎️ Call us at 605-212-8431. 📱 You can also text us!

💲 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.

Real Estate Market - Home Buyers Concept

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.

Couple and baby in front of for sale sign and house

Don’t risk losing money on the sale of your home. Get a home valuation that will help when setting the asking price on your home. Make sure your home is staged to attract buyers in the Sioux Falls area.

🏘️ 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 $253,515 or less.

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Sioux Falls Real Estate Market Report - November 2019
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Sioux Falls Real Estate Market Report - November 2019
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The average price for Sioux Falls homes rose 4.8% to $253,515. Read more about this month’s trends in the November 2019 real estate market report.
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RL Real Estate
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