Sioux Falls SD June Housing Market Statistical Report

By
Real Estate Agent with Meritus Group Real Estate SD 14808

 

RASE-REALTOR Association of the Sioux Empire- June 2011 Housing Market Statistical Reporting

 

Sioux Falls, SD – July 8, 2011: You may have noticed some "noise" lately about where the market is heading. Some accounts are optimistic while others, well, aren't. The good news is that local data provides a more reliable tone than national sound bites can offer. When it comes to hearing the market's true message, it may not necessarily be from the expected indicators, it may not be heard evenly across all segments and it may arrive in disjointed bursts. Let's listen.

 

The rate of inventory absorption in the Sioux Empire region slowed as Months Supply of Inventory was up 22.6 percent to 9.7 months. New Listings decreased 2.0 percent to 539. Pending Sales were up 14.5 percent to 300. Inventory levels shrank 3.9 percent to 2,238 units, but even choosy buyers can still find top-notch homes.

 

The price needle wouldn't budge this time. The Median Sales Price declined 4.8 percent to $139,950. Days on Market increased 3.9 percent to 86 days. Affordability also improved.

 

On the national front, the interest rate dropped to 4.79 percent on a 30-year fixed conventional and 4.44 percent for FHA. The unemployment rate has been stable around 9.0 percent and initial unemployment claims have continued to fall. Wages and payroll jobs are also improving slowly. Debt ceiling negotiations and other background noises persist, while prolonged job growth is still the missing verse in the recovery song.

 

Greg Sax, 10k Research & Marketing

 

So what does this all mean? It means it is a great time to buy! Interest rates are falling and unemployment is steady. And while the inventory has shrunk some there is still something to keep everyone happy! 
Posted by

 

Rosalie A. Evans                                                                      

HJN Team Real Estate

101 W. 69th St.

Sioux Falls, SD 57108

Cell 605-366-7242

rosaliesellssiouxfalls@gmail.com

 

                                       

 

   

 

                    visit my site and find a home!

              Selling real estate in the greater Sioux Falls, SD area, including the communities of 

 -Harrisburg-Tea-Worthing-Dell Rapids-Flandreau- Colton-Baltic- Brandon-Canton-Lennox-Trent-Hartford-

                                   -Crooks-Colman-Garretson-Valley Springs- 

 

                    

Comments (8)

Team Honeycutt
Allen Tate - Concord, NC

Thanks for sharing the statistics with us on your June Housing Market.  It is always interesting to compare to ours.

 

Betty

Jul 08, 2011 08:55 AM
Rosalie Evans
Meritus Group Real Estate - Sioux Falls, SD
The Evans Group, Sioux Falls, SD Homes For Sale

Betty- Thanks for stopping by. We do have much to be thankful for in our current housing stats as compared to most other locations! Have a good weekend. 

Jul 08, 2011 09:00 AM
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Rosalie-That's a nice report for Sioux Falls. Pending Sales up is always a good sign. That is a very nice looking house too.

Jul 09, 2011 06:35 PM
Rosalie Evans
Meritus Group Real Estate - Sioux Falls, SD
The Evans Group, Sioux Falls, SD Homes For Sale

Wayne-Thanks for dropping by! As chance would have it my mom lives in San Antonio. I have been meaning to come down and see her too. Its just hard to get away in this profession. So what is the market doing down there? I snagged the picture off of Morgue File...it is a free picture sharing site that is awesome! Someday I want to live in a house just like that!

Jul 10, 2011 02:41 PM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Rosalie, 

Good info about Sioux Falls Housing.  I love the picture of that house.  (I'm thinking it's above your average price point:-)

All the best, Michelle

Jul 11, 2011 12:24 AM
Rosalie Evans
Meritus Group Real Estate - Sioux Falls, SD
The Evans Group, Sioux Falls, SD Homes For Sale

Michelle- Yes if that home was here I am sure that it would be over our average price point! It is just a picture I swiped off of Morgue File. I would just love to live in a house like that! Back in the day people really knew how to build houses! :)

 

Jul 11, 2011 06:10 AM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Rosalie, that is a gorgeous home. Something I would expect to see in New England not SD. Great report. It's important to provide this kind of data to buyers and sellers. I find very few agents ever even mention absorption rate in my area.

Jul 13, 2011 04:52 PM
Rosalie Evans
Meritus Group Real Estate - Sioux Falls, SD
The Evans Group, Sioux Falls, SD Homes For Sale

Tammie-Is that not a georgeous home! Its actually not in South Dakota I pulled this photo off of Morgue File. I have a certain affinity to historic houses that my husband wishes I didn't! As for absorption rates they really don't speak of them in your area? I find it helpful during a listing presentation.....right around the pricing section! Thanks for stopping by!

Jul 13, 2011 05:47 PM