Here’s a look at the Sioux Falls Real Estate Market for October 2019. According to statistics from the REALTOR® Association of the Sioux Falls Empire, Inc., the average price of homes for sale in Sioux Falls is up 8.6 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 October with the median sale price for homes in Sioux Falls at $212,900. This amount shows a decrease from the $224,000 recorded last month, but we see an increase of 5.4 percent from the $202,000 this time last year.
The average sales price for homes in Sioux Falls is $273,703 for October, which is up from the $273,703 in September. We see an increase of 8.6 percent from the $233,632 this month in 2018.
📊 What Does this Data Mean?
We entered October with 1,046 active listings of homes for sale in Sioux Falls. The number of active listings is down 9.5 percent from 1,156 in 2018. It’s not unusual to see a decrease in active listings as we move into holiday months.
💲 What does this mean for Sioux Falls home buyers?
There were 404 new listings added to the Sioux Falls real estate market inventory last month. The number of new listings is showing a marked decrease from last month’s 474 recorded. There’s a drop of 10.4 percent when compared to last year’s 451 new listed homes.
The best way to stay informed when it comes to new listings in the Sioux Falls area is to sign up for free e-mail alerts. It’s as easy as putting in the search criteria you find essential in a home, and we send you new listings that match as soon as they come on the market.
💵 What does this mean for Sioux Falls home sellers?
Sellers are currently receiving 98.8% of their original asking price. Homes are staying on the market an average of 77 days, which is a slight increase of 1.6 percent from last year.