User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


13° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

Housing Market Heating Up

April 19, 2012, 9:50 PM by Angela Kennecke

Housing Market Heating Up
SIOUX FALLS, SD -

If you've driven around Sioux Falls, you've probably noticed a lot of "sale-pending" signs.  That's because the housing market has picked up considerably, especially in the last month.  Home sales were up almost 20 percent in March over the same time last year.

Mike Chadwell just bought his home a month ago, in one of the best months for home sales in years. 

"And the quarter too.  March ends the first quarter and the first quarter is up quite a bit, not as dramatically as much, but the first quarter is up too.  It's been a good year," realtor Matt Larson said.

Chadwell had rented for a few years and watched the housing market, anxious to get back into it.

"My daughter and I would drive around looking at places and I considered it and went back and forth just because of jobs and whatnot and feel a lot more secure about the way things are with jobs in Sioux Falls right now.  And went by and found something just perfect.  Location, location, location.  It was perfect," Chadwell said.

Larson says it's that optimism over the job market in Sioux Falls that fueled home sales to jump almost 20 percent in March. 

"Maybe not recovered, but recovering. I think we've definitely made the curve and we're going back up definitely," Larson said. 

Larson says with a seven-month supply of inventory available, we are heading toward a balanced market in Sioux Falls.

"It is by no mean's a seller's market, but it's not the buyer's market it was," Larson said.

And that's also driving prices up for the average home by about 10 percent since the beginning of the year.  Chadwell is glad he made the leap back into home ownership when he did.

"I moved pretty quickly once I decided this was the place," Chadwell said.

The median sales price is now $145,000 for a home in Sioux Falls.

Previous Story

Next Story


Comments





Sponsored
Find Local Businesses on KELO Pages!

View business

You may also like

Touch Of Europe Permanently Closed

2/25/2015 4:29 PM

The Touch of Europe restaurant will be closed for good.

Full Story
The City's Largest Construction Project Will Impact Thousands

3/2/2015 5:04 PM

It's being billed as the city's largest construction project this year at a cost of just under $9 million and it's going to impact thousan...

Full Story | Watch
Pizza Restaurant Coming To Downtown Sioux Falls

2/25/2015 11:40 AM

Montana-based MacKenzie River Pizza is scheduled to open its first South Dakota location on September 1 at 11th Street and Main Avenue.

Full Story
Whiffer's Sandwiches Back Open For Business

3/2/2015 4:00 PM

Whiffer's Sandwiches is serving up lunch on Minnesota Avenue again.

Full Story
Eastside Restaurant Row

2/25/2015 10:10 PM

Dunkin' Donuts, Fazoli's, BurgerFi, Chipotle--all food chains that have indicated an interest in Sioux Falls.  Now the question is, what ...

Full Story | Watch


Events