Sioux Falls, SD home prices and housing market

Sioux Falls home values are still rising, yet nearly one in six sellers just cut their price. If you are thinking about selling this year, that tension is the whole story. The typical home here is worth about three hundred twenty-eight thousand dollars, up a little over one and a half percent from a year ago. That is steady, healthy appreciation, and homes that are priced right are moving in about forty-six days. Supply is manageable too, with about 950 homes for sale and roughly 350 new listings coming on this month. But here is where sellers get tripped up. The median list price is about three hundred thirty-five thousand dollars, sitting a few thousand dollars above what homes are actually worth, and nearly sixteen percent of active listings have already cut their price. So buyers will pay a fair number, but they are punishing the ambitious ones. The practical read: price at or just under what your home is worth, and you will likely sell without drama. Aim high, and you risk sitting for six weeks before joining the price-cut crowd. Find out where your home stands with a free estimate at Home Value Pros dot com.