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 5/31/19. Updates will be bi-monthly.

Comments:

Inventories are up about 15% from the beginning of the year. Sales are steady and closed/sold properties are consistent with this past spring activity. Price adjustments are up. Mortgage rates are level, and perhaps slightly down. All of this indicates a slower market for sellers, and better opportunities for buyers.

Forecast

The market will remain solid. Prices will be flat through the summer. Inventories might rise slightly. Mortgage rates will be level. This will be a balanced market which allows sellers to get their home sold, and yet give buyers enough time to contemplate their plan without being rushed. The economy continues to be strong, and we expect it to be strong throughout the year.

 Sioux Falls Total Area
 May 15-31
June
1-15
May
15-31
June 1-15
Active Number of Listings 617
652
1000
1053
New Listings added this period 297
309
439
432
Number of Pending Sales (not closed) 192
173
270
239
Number of Sold (closed) 227
221
331
273
Number of Homes Off Market (Inactive) 6198
99

143

Agent

The Tony Ratchford Group

The Tony Ratchford Group

Phone605.359.4100

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