Rapid City, South Dakota Market Stats for March 2010.
Action. Glory. But not alot of guns. (well...not that I am aware of, anyway)
We have certainly enjoyed the Spring weather, spring real estate market, and tax credit advantages here in Rapid City, Black Hawk, Ellsworth and Box Elder. The community has put up some nice listings. Those listings priced right that are move in ready don't stay on the market too long...
I see a bunch of positive stuff...MORE sold listings, homes are staying on the market FEWER days until they are sold (Days on market or DOM), and average prices have increased across the board. The average price of preowned homes have increased 9% since last year, and new construction is catching back up as well, with an average price increse of 16%! New construction is continuing to improve - still fewer homes sold than last year, but the days on market have been fewer...with about the same number on the market.
Date range for active stats: as of 3/1/09 and 3/1/10
Date range for sold stats: 1/1/09 to 3/1/09 and 1/1/10 to 3/1/10
(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.)
[Aren't disclaimer's just the best?!]
So the question remains: what will happen once the tax credit expires? I've seen that be the flame for a bunch of sales and interest. Well, we shall see. I think things will continue to roll. 'Course I may be a bit bias... :)
Good stuff. Good times.
Prudential Kahler REALTORS