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 12/31/18. Updates will be bi-monthly.

Comments:

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
 Dec 15-31
Jan
1-15
Dec
15-31
Jan
1-15
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

164

Agent

The Tony Ratchford Group

The Tony Ratchford Group

Phone605.359.4100

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