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Sioux Falls Housing Statistics & Real Estate Blog

Current Sioux Falls home market conditions, local real estate market statistics, trends and other thoughts by Brandt Williams.

November 2017 Sioux Falls Housing Market Statistics

December 06, 2017 by

The facts of residential real estate have remained consistent in 2017. In year-over year comparisons, the number of homes for sale has been fewer in most locales, and homes have been selling in fewer days for higher prices. This hasn’t always been true, but it has been a common enough storyline to make it an overarching trend for the year.

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October 2017 Sioux Falls Housing Market Statistics

November 02, 2017 by

It has been several months since news cycles have touched upon housing in any sort of sensationalistic headline grab that was common during the boom-and-bust atmosphere of a decade ago. During that tumult, heady price increases gave way to a Great Recession and foreclosure crisis. Then we entered into a period of healing and eventual recovery that we are still enjoying. For residential real estate in 2017, fewer headlines have meant mostly good news.

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September 2017 Sioux Falls Housing Market Statistics

October 06, 2017 by

Every market is unique, yet the national sentiment has given rise to the notion that housing markets are stalling. Although desirous buyers are out on an increasing number of showings, there remains a limited number of desirable listings. And although mortgage rates have remained enticingly low, home prices have reached unaffordable levels for many new entrants into the housing pool at exactly the same time that established owners are proving to be less interested in moving.

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August 2017 Sioux Falls Housing Market Statistics

September 08, 2017 by

August tends to mark the waning of housing activity ahead of the school year. Not all buyers and sellers have children, but there are enough parents that do not want to uproot their children during the school year to historically create a natural market cooldown before any actual temperature change. Competition is expected to remain fierce for available listings. Savvy sellers and buyers know that deals can be made well into the school months, as household formations take on many shapes and sizes.

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July 2017 Sioux Falls Housing Market Statistics

August 04, 2017 by

How long can the residential real estate market go on like this? We are about two years into a national trend of dropping housing supply and increasing median sales prices. There are some regional variations to the story, but the shift to a predominantly seller's market is mostly complete. Multiple-offer situations over asking price are commonplace in many communities, and good homes are routinely off the market after a single day. It is evident that a favorable economy keeps hungry buyers in the chase.

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