April 2018 Rapid City Real Estate Market Report | Tristan and his WHITEBOARD - LIVE!

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Real Estate Agent with Mindful Living Realty

Tristan and his WHITEBOARD - LIVE

April 2018 Rapid City Real Estate Market Report Edition!

 

(sorry about the audio - FB LIVE recorded bad...the voice will sync about 25 seconds in)

 

Hey everybody. Welcome to Tristan and his WHITEBOARD LIVE - real estate market edition.

We'll be talking about four -  just FOUR numbers today.  It should be pretty simple, pretty easy.

44 Days on Market

So, I did a search and I looked at days on market of homes in April of this year and it's at 44. So, we've got 44 days on the market from the time home gets on the market to the time it's under contract on average throughout the Rapid City area in April of 2018.  And that's actually a few days down from 2017 in April last year as well.  And last year was pretty butt-kicking as well.

38 Days on Market

But then I thought let's play with the numbers a bit.

Let's see what happens when we go from May 1st to today.  So that gets us at 38 days on the market.  Of course, you know I thought -  probably not a bad idea...I've heard a few stories about things moving along pretty good.

28 Days on Market

So, I thought, let’s, you know, narrow down a little more.  I did the Rapid City area from May 1st to today under 300,000 – because the homes over 300,000 have a tendency to take a little bit longer to sell sometimes. And that brings us to 28 days on the market.

20 Days on Market

And I thought -  you know what…as I'm looking at these numbers and notice there's 7 of them that are over 100 days.  And I said, let’s get rid of those outliers and see where the normal - if they are over 100 days on the market, there’s probably some...a reason that they are over 100 days on the market.  So, let's take a look at anything under 100 days on the market.  And that turns out to be 20 days on the market. And a whole heap of them were under...were in single digit range.

So, we are seeing a lot of homes move very quickly. And, in fact, Amanda - one of our agents here at Mindful Living Realty - had a home she put on the market and she sold 30 minutes later.  That fast is how things are selling.

Fortunately, it's not as bad as, like, Florida.  I was talking with one realtor friend in Florida who had an open house for one listing – it was for three hours and has 21 offers on the property.  So, we're not that bad and that crazy yet but certainly things are moving fast.

It is definitely time to get your home on the market if you'd like to get sold.

We can get it sold for you. Give us a call if you have any questions.

And have a great day!

Talk to you next time on Tristan and his WHITEBOARD.

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Comments (1)

Joyce Marsh
Joyce Marsh Real Estate LLC - Ormond Beach, FL
Joyce Marsh Real Estate LLC - Coast & Luxury
Thank you for sharing the latest Market report on this segment of the real estate market. 

 

May 19, 2018 08:03 AM
Tristan Emond

Thanks Joyce!  Moving right along!

May 19, 2018 02:13 PM