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 11/30/19. Updates will be bi-monthly.

Comments:

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.

Forecast

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 1-15
Nov
15-30
Nov
1-15
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

98

Agent

The Tony Ratchford Group

The Tony Ratchford Group

Phone605.359.4100

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