Inventory is Looking Good!

The Sioux Falls real estate market is doing well since last month, with an increase in active listings as summer transitions into fall and homeowners are looking to sell their properties.

Wondering about the details of the housing market? Here’s the latest update.

Sioux Falls Real Estate Market: September 2015 Update

house cutout on grassRight now, there are a total of 823 homes for sale in Sioux Falls, which is up from last month by more than 200 active listings — the housing market is doing well!

By area, South Sioux Falls has the most listings (nearly 200), followed closely by Central Sioux Falls. New construction is still a large percentage of the entire market, with construction progressing in new subdivisions throughout the area and providing brand new houses for interested home buyers to discover.

The Housing Market Breakdown by Price

Let’s discover what the real estate market looks like by price points, starting at Sioux Falls homes listed under $200,000 and progressing to the luxury listings over $800,000.

Homes Under $200,000

This is by far the most popular price range for Sioux Falls real estate, and there’s a lot of inventory — 214 homes! That’s over a quarter of total listings, with about 10 of them being fresh listings.

Here you’ll find beautiful new construction homes and a majority of houses for sale, but there are a few select condominiums, like in Vista Towers. In the “under $200,000″ range is where you’ll tend to find split-level houses and a variety of home styles.

Homes Between $200,000 and $300,000

Homes in this price range are doing about the same as last month, with the addition of 5 new listings. You can find houses ranging from 2-5 bedrooms and many with attached 2-car garages, plus new construction options.

Homes Between $300,000 and $500,000

As homes become more luxurious, there are generally fewer listings but still a demand for these types of homes. Compared with last month’s market, the number of listings are about the same, with the addition of 3 new listings on the Sioux Falls real estate market.

You’ll find a majority of the homes in this price point belong in nice subdivisions like Cherry Lake Reserve, Heather Ridge, and Tuthill.

Homes Between $500,000 and $800,000

This price range is where we see houses in Sioux Falls with more than 4 bedrooms and with ample space, including homes over 9,000 square feet in size! Many Sioux Falls featured neighborhoods have homes for sale in this price range — including Prairie Hills, The Grand Prairie, and McKennan Park.

Inventory has decreased slightly from last month as home buyers are eagerly searching for their luxurious dream home.

Homes Over $800,000

There are over 25 listings for homes over $800,000 in Sioux Falls, including the Kincade Loft (where you can explore this magnificent property with a 3D virtual tour) and several million-dollar estates.

No new listings are in this price range, and the number of homes for sale over $800,000 has decreased since last month — so if you’re a home buyer seeking your dream property, you ought to act fast!

Questions about Real Estate in Sioux Falls?

If you’re searching for your real estate dream-come-true in Sioux Falls, or if you’re interested in learning more about the Sioux Falls housing market, contact The Fisher Sisters team today and we can answer any questions you may have.

Call us at 605.274.7268 or email danielle@fishersisters.com and we can start a conversation.

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