Dec.9, 2024

Sioux Falls housing activity largely was flat year over year, but prices edged up in November.

Closed sales essentially were unchanged for the month at 188 homes versus 187 a year ago, according to the Realtor Association of the Sioux Empire Inc.

New listings totaled 311 homes, or 10 fewer than a year ago.

Nationwide, sales have been trending up. While November numbers aren’t out yet, October home sales were up about 3 percent, “exceeding economists’ expectations for the month and marking the first annual gain since July 2021, according to the National Association of Realtors,” according to an analysis included with the report.

“Lower mortgage rates in late summer and early fall helped sales increase across all four regions” of the country.

In the city of Sioux Falls, the average sales price in November was $375,979, up 2.4 percent from a year ago, and the median price was $315,000, up 5 percent.

Sellers received 99.1 percent of original list price, up a bit from 98.4 percent last year. The average house spent 73 days on the market before selling, one fewer day than last year.

The market ended November with a 4.3-month supply of homes, down from 4.6 months last year.