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 11/30/2023.
Updates are made bi-monthly.
Comments from Tony
Inventories are higher with about the same number of new properties coming on the market.
That means pending and contingent home sales are down. Sales are taking longer. Prices are slipping. Mortgage rates are now in the 6% - 7% range.
Forecast
Inventories may grow for another week or two, and then drop off through December.
Homeowners who are thinking of selling may hold off from going on the market and some of those already on the market may take a break from MLS during the holidays. Mortgage rates will be lower. Prices will also be lower.
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.