Sioux Falls, SD housing market

Sioux Falls is in a holding pattern this June, and that is actually the story. The typical home here is worth about three hundred thirty thousand dollars, up only about 1.2 percent from a year ago. Values are not falling, but they are barely moving either. There are roughly 860 homes for sale, with about 340 new listings hitting the market in the latest reading, so buyers have some choice without any flood of supply. The typical home takes around 42 days to sell, which means this is not a frantic market. Sellers are not panicking, but a meaningful slice of them, about 13 percent, have already cut their price at least once. The median list price sits near three hundred thirty-four thousand dollars, right on top of what homes are actually worth, which suggests pricing is mostly realistic but with no room to push. If you are selling, this is a market that rewards correct pricing on day one and punishes overpricing with a quiet wait.