How did Rapid City homes sell in May? Market Stats...now!
Yes, I know. Late. It's almost July for goodness sake. I took a commercial real estate course the beginning of the month (CCIM 102), and have since been catching up and keeping up with the new listings and business that has been jumping out of the woodwork. Not that I am complaining - may it continue!!
Excuses aside, here is what we got:
Looks like May treated us pretty well. Residential Real Estate continues to plug away in good ol' Rapid City and the Black Hills. The number of homes sold has increased since last year, along with the average sold price. The days on market - time from listing the home to the sale - remains pretty much stable. A longer days on market track would tell me homes are still selling, but just taking longer to do so.
Interesting stats in the new construction world - less sales since last year, but they have been on the market for 33 less days and STILL averaged a higher sale price than last year. Again - no complaints here.
Here it is in the graphs:
Now here's to enjoying the rest of the summer! There are lakes to be boated and trails to be walked. But also looking forward to the summer doldrums in real estate to be very limited...
Have a good one!
- Tristan
Tristan Emond
Prudential Kahler REALTORS
www.rapidhomesonline.com
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I love Rapid City! Sounds like your market and local are very similar to ours here in Billings. Glad to here you have increased some of your inventory, we seem to be heading that direction as well.