Surprisingly, inventory levels have remained almost exactly as the end of the year. More homes came on the market, but an equal amount plus pending sales offset an increase. Price adjustments increased. Days on the market remained the same. Mortgage rates are lower; some indicate rates below 4.5% for a 30 year loan.Forecast:
We still believe the market is solid. The political environment may be keeping a few people on the sidelines. Although, there are plenty of people, with a positive attitude, looking and seriously visiting about moving soon. It’s just a matter of time before the market breaks loose again. 2019 should be equally as good as 2018 and 2017.
|Sioux Falls||Total Area|
|Active Number of Listings||581||584||909||910|
|New Listings added this period||61||172||92||241|
|Number of Pending Sales (not closed)||66||69||92||93|
|Number of Sold (closed)||86||76||117||104|
|Number of Homes Off Market (Inactive)||58||99||88|