Market Conditions
The following information was obtained through REALTOR® Association of the Sioux Empire, Inc. It does not include private sales outside the system, and reflects all residential activity for the past two weeks ending 11/30/2022.
Updates are made bi-monthly.
Comments from Tony
Inventories are increasing…
Fewer homes coming on the market, fewer sales, and more price adjustments reflects the past two weeks. It appears we are experiencing a seasonal/holiday affect as well as a slow-down in activity due to higher mortgage rates and consumer confidence.
Forecast
December will see continued slowing of sales, mostly due to the holiday season.
Mortgage rates will ease, as they always do in December. Fewer new listings will come on the market, unless builders bring more homes to the market. Prices will soften. January will see more homes coming on the market, and we will see more sales, as we usually do in...
Sioux Falls Real Estate Market Conditions
Numbers include all residential properties, single family, twin-homes, townhomes, and condos.
Total Area Real Estate Market Conditions
Numbers include all residential properties, single family, twin-homes, townhomes, and condos.