How the Sioux Falls Housing Market is Doing

A great tool to monitor the local housing market is by keeping track of homes for sale on the MLS.

In Sioux Falls, there are hundreds of active listings, not to mention pending sales and recently sold homes. Today we’re going to be looking at the current state of the Sioux Falls housing market.

Sioux Falls Real Estate Market: August 2015 Update

In the entire Sioux Falls area, there are nearly 600 active homes for sale. Here’s a breakdown of the listings by price range:

  • 216 homes under $200,000
  • 159 homes between $200,000 and $300,000
  • 82 homes between $300,000 and $400,000
  • 39 homes between $400,000 and $500,000
  • 35 homes between $500,000 and $600,000
  • 14 homes between $600,000 and $700,000
  • 14 homes between $700,000 and $800,000
  • 31 homes over $800,000

Let’s take a look at how parts of the city are doing — starting with central, east, south, and west.

Central Sioux Falls

Central Sioux Falls real estate is highly desirable, offering spectacular housing options in the luxurious McKennan Park neighborhood and in the stylish Kincade Loft in Downtown Sioux Falls.

Currently, there are 140 homes for sale in this area, making up about 24% of all active real estate listings in Sioux Falls.

East Sioux Falls

A majority of the homes for sale in East Sioux Falls are listed on the local real estate market for up to $350,000 — a total of  72 properties in this price range.

For more luxury homes, you’ll find a choice selection — there are 12 homes for sale in East Sioux Falls between $350,000 and $1 million.

One featured neighborhood in this area is Copper Creek, which offers ample square footage and attractive home features, not to mention brand new houses. Properties currently on the market are listed for between $300,000 and $600,000.

South Sioux Falls

machinery at construction siteInventory for South Sioux Falls is much higher than the other parts of the city, and homes for sale in this area currently make up over 34% of the active listings.

But that’s not too surprising with the amount of new construction homes in South Sioux Falls neighborhoods like Grand Prairie and Prairie Hills.

There’s also a large selection of luxurious homes in this area. In the over $500,000 price range, there are 59 home listings on the market, including in featured neighborhoods like Prairie Tree and Heather Ridge.

West Sioux Falls

West Sioux Falls, or the area west of I-29, has fewer homes listed on the market than its counterparts.

Right now, there are 28 total active listings, with a majority priced between $200,000 and $350,000. A couple of homes on the market belong to the new Cherry Lake Reserve neighborhood.

How’s the Sioux Falls Real Estate Market Doing?

With several residential developments under construction or nearing completion, the Sioux Falls real estate market is seeing more brand new properties for sale and increasing inventory for home buyers to browse.

In summary, the market is looking good! If you’d like to find out more information on the Sioux Falls housing market or about buying a home in this area, contact us today at 605-274-7268.

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