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 11/15/18. Updates will be bi-monthly.

Comments:

Unusually cold weather coupled with a few negative factors, plus the typical seasonal shift has slowed the market. Fewer homes coming on the market, fewer sales, lower inventories, and slightly falling mortgage rates.

Forecast

Mortgage rates might slip slightly under 5% for a 30 year loan. Asking prices will be lower. Inventory level will decrease. Sales will slow slightly until after Christmas.

 

 Sioux Falls Total Area
 Oct 15-31
Nov
1-15
Oct
15-31
Nov
1-15
Active Number of Listings 714
697
1117
1090
New Listings added this period 175
157
268
231
Number of Pending Sales (not closed) 134
115
193
160
Number of Sold (closed) 144
145
214
190
Number of Homes Off Market (Inactive) 65
81
94

125

Agent

The Tony Ratchford Group

The Tony Ratchford Group

Phone605.359.4100

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