Rapid City Market Report - July 2009

Real Estate Agent with Mindful Living Realty

July was a great month for me, anyway.  I was top sales agent for my company for the month.  I was quite surprised at the honor since it takes 2 sales of mine to equal one of some of the more seasoned agents in my office.  It's pretty exciting.

The market continues to move right along.  Sales are still down from last year, but they are down 17% this month versus 32% last month year to date. (referring to the "total residential" graph) The average sold prices on preowned homes remain stable, and new construction prices are down 8%.  All in all, I see things remaining fairly stable, with good signs showing.  What will happen when the tax credit no longer is an option will be interesting to see.

The first time homebuyers continue to drive the market forward.  Here are the number of homes sold in the month of July:

 $                  -    $100,000.00   17
 $     101,000.00  $125,000.00   16
 $     126,000.00  $150,000.00   28
 $     151,000.00  $175,000.00   31
 $     176,000.00  $200,000.00   19
 $     201,000.00  $225,000.00   7
 $     226,000.00  $250,000.00   4
 $     251,000.00  $275,000.00   8
 $     276,000.00  $300,000.00   4
 $     300,000.00  and above    6


 July 2009 Total Residential

July 2009 Single Family  July 2009 Single Family Average

July 2009 new construction   July 2009 new construction average

Date range for active stats:  as of 8/1/08 and 8/1/09

Date range for sold stats:  1/1/08 to 8/1/08 and 1/1/08 to 8/1/09

And of course, the disclaimer:

This representation is based in whole or in part on data supplies by the Black Hills Association of REALTORS or its Multiple Listing Service for the periods as shown.  Neither the Association not its MLS guarantee or is in anyway responsible for its accuracy.  Data maintained by the Association of its MLS may not reflect all real estate activity in the market.

Here's to what's left of the summer!!

 - Tristan

Tristan Emond
Prudential Kahler REALTORS(r)


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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Good report. Best wishes for continued success. Have a wonderful weekend.

Aug 14, 2009 06:09 AM #1
Tristan Emond
Mindful Living Realty - Rapid City, SD
Rapid City Homes Sales Specialist

Thanks Roy.  Here's to no (or little) rain as the family and I go camping at the lake!

Aug 14, 2009 06:16 AM #2
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