Good Morning all! Hope you enjoyed our weather this weekend and say a prayer for the missing people in Colorado. Mark, I have to admit that your Bears beat my Vikings but not easily or fast. We put up a great fight to within the last few seconds! The August Sales Statistics are available so let’s give you a peek at the real estate world in Sioux Falls! YTD 2013 Vs YTD 2012 Month of August 2013 Vs August 2012 New Listings: up 2.7% down 12.5% Closed Sales up 21.0% up 7.2% Median Sales Price up 3.8% up 6.7% (now $160,000) % Original list $ up 1.6% up 1.5% Inventory of Homes for sale down 10.7% Quick summary: The inventory of homes is still down significantly despite a small increase in the # of new listings, the closed sales are up substantially more than the listings have increased, Sellers are getting a better % of their original list price and the median point of sales is up both YTD and for the month. The market is tightening but the home values themselves have not seen much for increases. It would appear that we are in more of a balanced market, not near as strong a buyer’s market that we have had but sellers are not getting huge price increase either. We have been saying now is the time to buy & sell, These numbers this month really back that up. Do not wait for mortgage rates to go up further! That will cost you more in your mortgage and you will be buying less house because of the affordability. Call us to see how you can make this present economy work to your advantage!
Posted on: Mon, 16 Sep 2013 17:19:01 +0000
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