Market report...how did homes in Rapid City sell in the good ol' month of June?
We saw some flattening out this past month in the preowned residential sector. Even though we have 11% more homes on the market than this time last year and 33.5% more solds, the average sold price actually went down 3.4%. Granted, nothing huge. But a littel surprising seeing the number of homes that have sold.
The big news to me this month is the new construction. They seem to be coming out of their slump a bit more. 16% more listings as builders are responding to the corrections in the marketplace, with 28% more sold than last year, and a whopping 30.7% decrease in the days it takes to sell the home. (days on market) The average sold price is coming back online with it increasing 2.8% over last year as well.
Once again, ladies and gentlemen, 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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