Holiday travel, shopping, and cold weather have begun, and sales activities are slowing. Inventories are down, pending sales are down, although, short-term contingent sales are up. Closed sales are down. Mortgage rates are mostly stable with a slight trend downward.
Holiday activity will compete for real estate activity. The market in general is strong, but the amount of activity is less than non-holiday normal. We expect good sales, longer days on the market, solid prices, and lower mortgage rates for the next 30 days. The Sioux Empire economy is showing exceptional strength, and 2020 should be another great year for both sellers and buyers.
|Sioux Falls||Total Area|
|Nov 15-30 |
|Active Number of Listings||718||653||1142||1064|
|New Listings added this period||162||109||240||163|
|Number of Pending Sales (not closed)||159||77||227||129|
|Number of Sold (closed)||185||90||254||144|
|Number of Homes Off Market (Inactive)||76||65||147|