Market Conditions

The following information was obtained through Realtors Association of the Sioux Empire. It does not include private sales outside the system, and reflects all residential activity for the past two weeks ending 10/15/19. Updates will be bi-monthly.

Comments:

Solid market with more sales and new listings coming on the market. Inventory levels are flat. Mortgage rates are steady. Prices seem to falling to a small degree. The market is as we expected and is outperforming a typical fall market.

Forecast

Buyer energy will continue until the holiday season is upon us, although the early cold weather is showing signs of a slight pause. We expect activity to increase as the weather warms and returns to normal. Mortgage rates will hold steady. Sales will be solid, but new properties coming on the market will begin to slow and inventories will drop.

 Sioux Falls Total Area
 Sept 15-30
Oct
1-15
Sept
15-30
Oct 1-15
Active Number of Listings 725
722
1217
1221
New Listings added this period 200
245
301
345
Number of Pending Sales (not closed) 128
146
192
189
Number of Sold (closed) 157
169
228
229
Number of Homes Off Market (Inactive) 92
110
138

164

Agent

The Tony Ratchford Group

The Tony Ratchford Group

Phone605.359.4100

Thank you for the email, we'll get back to you shortly

Sorry, we are unable to send your message at the moment. Please try again later.