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July 2017 Supply of Home on the Market

by Solus Real Estate Group

 

 

 

SUPPLY OF HOMES ON THE MARKET

July 2016 and July 2017

 

    This shows how many months supply of houses are on the market.  These numbers reflect an average length of time a home was on the market before selling.     

                                                                                      

Price Range

July 2016

July 2017

Change

$1,000-$100,000

5.6 Months

2.7 Months

-51.8%

$100,000-$150,000

3.2 Months

2.7 Months

-15.6%

$150,000-$200,000

3.8 Months

2.5 Months

-34.2%

$200,000-$250,000

4.7 Months

3.5 Months

-25.5%

$250,000-$300,000

6.8 Months

3.2 Months

-52.9%

$300,000-$350,000

6.5 Months

4.7 Months

-27.7%

$350,000-$400,000

8.0 Months

7.2 Months

-10%

$400,000-$450,000

10 Months

9.5 Months

-5%

$450,000-$500,000

7.5 Months

7.0 Months

-6.7%

All Price Ranges

 

5.1 Months

3.6 Months

-29.4%

 

 

 

 

If you ever wanted to sell, now would be an excellent time, we would be thrilled to help you discover the value of your home today! 

 

 

Yes, it is a great time to buy and sell!

The Solus Real Estate Group is here to serve in all of your Real Estate needs.

 Give us a call to see how these low mortgage rates could benefit you!!

 

 
 

 

 

 

 

 

Harlan TenNapel-harlan@solusrealestategroup.com

mark youngberg- mark@solusrealestategroup.com

605-274-7273

June 2017 Supply of Home on the Market

by Solus Real Estate Group

SUPPLY OF HOMES ON THE MARKET

June 2016 and June 2017

 

    This shows how many months supply of houses are on the market.  These numbers reflect an average length of time a home was on the market before selling.     

                                                                                      

Price Range

June 2016

June 2017

Change

$1,000-$100,000

5.2 Months

2.6 Months

-50%

$100,000-$150,000

3.0 Months

2.7 Months

-10%

$150,000-$200,000

3.9 Months

2.7 Months

-30.8%

$200,000-$250,000

5.0 Months

2.9 Months

-42%

$250,000-$300,000

6.6 Months

3.2 Months

-51.5%

$300,000-$350,000

7.4 Months

4.5 Months

-39.2%

$350,000-$400,000

8.5 Months

7.1  Months

-16.5%

$400,000-$450,000

9.9 Months

8.5 Months

-14.1%

$450,000-$500,000

9.5 Months

4.8 Months

-49.5%

All Price Ranges

 

5.1 Months

3.5 Months

-31.4%

 

If you ever wanted to sell, now would be an excellent time, we would be thrilled to help you discover the value of your home today! 

 

 

Yes, it is a great time to buy and sell!

The Solus Real Estate Group is here to serve in all of your Real Estate needs.

 

 
 

 

 

 

 

 

Harlan TenNapel-harlan@solusrealestategroup.com

mark youngberg- mark@solusrealestategroup.com

Erika Boen – erika@solusrealestategroup.com

605-274-7273

May 2017 Supply of Home on the Market

by Solus Real Estate Group

SUPPLY OF HOMES ON THE MARKET

May 2016 and May 2017

 

    This shows how many months supply of houses are on the market.  These numbers reflect an average length of time a home was on the market before selling.     

                                                                                      

Price Range

May 2016

May 2017

Change

$1,000-$100,000

5.2 Months

2.8 Months

-46.2%

$100,000-$150,000

3.3 Months

2.3 Months

-30.3%

$150,000-$200,000

3.8 Months

2.5 Months

-34.2%

$200,000-$250,000

5.4 Months

2.8 Months

-48.1%

$250,000-$300,000

6.7 Months

3.5 Months

-47.8%

$300,000-$350,000

7.9 Months

4.7 Months

-40.5%

$350,000-$400,000

8.3 Months

7.2  Months

-13.3%

$400,000-$450,000

10.1 Months

7.7 Months

-23.8%

$450,000-$500,000

9.7 Months

7.4 Months

-23.7%

All Price Ranges

 

5.2 Months

3.4 Months

-34.6%

 

 

 

 

If you ever wanted to sell, now would be an excellent time, we would be thrilled to help you discover the value of your home today! 

 

 

Yes, it is a great time to buy and sell!

The Solus Real Estate Group is here to serve in all of your Real Estate needs.

 Give us a call to see how these low mortgage rates could benefit you!!

 

 
 

 

 

 

 

 

Harlan TenNapel-harlan@solusrealestategroup.com

mark youngberg- mark@solusrealestategroup.com

Erika Boen – erika@solusrealestategroup.com

605-274-7273

April 2017 Supply of Homes

by Solus Real Estate Group

SUPPLY OF HOMES ON THE MARKET

April 2016 and April 2017

 

    This shows how many months supply of houses are on the market.  These numbers reflect an average length of time a home was on the market before selling.     

                                                                                      

Price Range

April 2016

April  2017

Change

$1,000-$100,000

4.7 Months

3.3 Months

-29.8%

$100,000-$150,000

3.1 Months

2.1 Months

-32.3%

$150,000-$200,000

3.6 Months

2.3 Months

-36.1%

$200,000-$250,000

4.9 Months

2.7 Months

-44.9%

$250,000-$300,000

6.2 Months

3.4 Months

-45.2%

$300,000-$350,000

8.1 Months

4.6 Months

-43.2%

$350,000-$400,000

7.7 Months

5.7 Months

-26%

$400,000-$450,000

9.0 Months

6.5 Months

-27.8%

$450,000-$500,000

10.0 Months

6.6 Months

-34%

All Price Ranges

 

4.9 Months

3.2 Months

-34.7%

 

 

If you ever wanted to sell, now would be an excellent time, we would be thrilled to help you discover the value of your home today! 

 

 

Yes, it is a great time to buy and sell!

The Solus Real Estate Group is here to serve in all of your Real Estate needs.

 Give us a call to see how these low mortgage rates could benefit you!!

 

 
   

Harlan TenNapel-harlan@solusrealestategroup.com

mark youngberg- mark@solusrealestategroup.com

Erika Boen – erika@solusrealestategroup.com

605-274-7273

March 2017 Supply of Home on the Market

by Solus Real Estate Group

SUPPLY OF HOMES ON THE MARKET

March 2016 and March 2017

 

    This shows how many months supply of houses are on the market.  These numbers reflect an average length of time a home was on the market before selling.     

                                                                                      

Price Range

March 2016

March 2017

Change

$1,000-$100,000

4.5 Months

3.4 Months

-24.4%

$100,000-$150,000

3.0 Months

1.8 Months

-40%

$150,000-$200,000

3.6 Months

2.2 Months

-38.9%

$200,000-$250,000

4.3 Months

2.6 Months

-39.5%

$250,000-$300,000

5.5 Months

3.6 Months

-34.5%

$300,000-$350,000

7.3 Months

4.1 Months

-43.8%

$350,000-$400,000

6.1 Months

5.7 Months

-6.6%

$400,000-$450,000

8.9 Months

6.4 Months

-28.1%

$450,000-$500,000

8.6 Months

6.5 Months

-24.4%

All Price Ranges

 

4.5 Months

3.0 Months

-33.3%

If you ever wanted to sell, now would be an excellent time, we would be thrilled to help you discover the value of your home today! 

 

February Supply of Homes

by Solus Real Estate Group

SUPPLY OF HOMES ON THE MARKET

February 2016 and February 2017

 

    This shows how many months supply of houses are on the market.  These numbers reflect an average length of time a home was on the market before selling.     

                                                                                      

Price Range

February 2016

February 2017

Change

$1,000-$100,000

4.1 Months

3.2 Months

-22%

$100,000-$150,000

2.5 Months

1.7 Months

-32%

$150,000-$200,000

2.9 Months

1.9 Months

-34.5%

$200,000-$250,000

3.6 Months

2.2 Months

-38.9%

$250,000-$300,000

4.0 Months

3.3 Months

-17.5%

$300,000-$350,000

6.6 Months

3.1 Months

-53%

$350,000-$400,000

5.2 Months

5.4 Months

3.8%

$400,000-$450,000

9.2 Months

4.8 Months

-47.3%

$450,000-$500,000

7.0 Months

5.9 Months

-15.7%

All Price Ranges

 

3.8 Months

2.7 Months

-28.9%

 

The median sales price has increased to $178,000, up 3.3% from this time last year.  Supply has decreased in all the price ranges except the $350-$400,000 range. Supply of homes in the $100,000 to $200,000 is now below 2 months supply while multiple price ranges had 30%-53% decreases in supply.

Our local real estate market is facing decreased inventory.  Homes are selling quickly with multiple offers.  If you have been considering selling, now is a great time.  On the buyer side, be prepared with a mortgage pre-approval and write an offer on your dream home. 

If you ever wanted to sell, now would be an excellent time, we would be thrilled to help you discover the value of your home today! 

January 2017 Supply of Home on the Market

by Solus Real Estate Group

SUPPLY OF HOMES ON THE MARKET

January 2015 and 2016

 

    This shows how many months supply of houses are on the market.  These numbers reflect an average length of time a home was on the market before selling.   

                                                                                      

Price Range

January 2015

January 2016

Change

$1,000-$100,000

3.7 Months

3.2 Months

-13.5%

$100,000-$150,000

2.3 Months

1.8 Months

-21.7%

$150,000-$200,000

2.6 Months

1.9 Months

-26.9%

$200,000-$250,000

3.3 Months

2.2 Months

-33.3%

$250,000-$300,000

3.9 Months

2.8 Months

-28.2%

$300,000-$350,000

5.6 Months

3.1 Months

-44.6%

$350,000-$400,000

4.8 Months

4.7 Months

-2.1%

$400,000-$450,000

7.8 Months

5.2 Months

-33.3%

$450,000-$500,000

6.7 Months

5.1 Months

-23.9%

All Price Ranges

3.5 Months

2.6 Months

-25.7%

December 2016 Home Sales

by Solus Real Estate Group
Interesting month in Real Estate. December was a strong month compared to last year in both pending & closed sales and median sales price. The new Listings, current listings and months supply of homes on the market are down very dramatically. The YTD numbers are not as strong a difference from 2015. 
 
Sales are up for the month and inventory of homes is down. Along with that median sales prices are up. All put together it seems like a great time to sell your house. Interest rates have dropped slightly, a signal that it is a great time to buy as interest rates will increase sooner than later. 
 
2017 is going to be a strong year!
 
Real Estate Sales for December 2016
 

 

Dec  2015

Dec 2016

% Change

YTD 2015

YTD 2016

% Change

New Listings

258

206

-20.2%

6116

6298

+3.0%

Pending Sales

328

427

+30.2%

4536

4755

+4.8%

Closed Sales

328

344

+4.9%

4532

4614

+1.8%

Median Sales Price

$164,750

$179,900

+9.2%

$171,000

$181,900

+6.4%

% of Original List Price Received

97.5%

98.2%

+0.7%

98.2%

98.5%

+0.3%

Inventory of Homes for Sale

1290

1044

-19.1%

 

 

 

Month’s Supply of Homes for Sale

3.4 Months

2.6 Months

-23.5%

 

 

 

 

November 2016 Sales Statistics

by Solus Real Estate Group

November 2016 Sales Statistics

Supply is increasing slightly but not in proportion to the pending sales that have increased dramatically for the month. The inventory is still less than a year ago and month's supply is down significantly.

 

Nov  2015

Nov 2016

% Change

YTD 2015

YTD 2016

% Change

New Listings

328

352

+7.3%

5858

6068

+3.6%

Pending Sales

275

385

+43.6%

4208

4444

+5.6%

Closed Sales

273

283

+3.7%

4204

4247

+1.0%

Median Sales Price

$168,000

$179,900

+7.1%

$172,000

$182,000

+5.8%

% of Original List Price Received

97.8%

97.9%

+0.1%

98.3%

98.6%

+0.3%

Inventory of Homes for Sale

1493

1271

-14.9%

 

 

 

Month’s Supply of Homes for Sale

4.0

3.2

-20.0%

 

 

 

 

Interest rates today are still near historic record lows.

30 year: 3.99%                     20 year: 3.875%                          15 year: 3.375%

It is important to mention that rates have moved up a bit within the last month. If you’ve been waiting on the sidelines to find the perfect time to obtain financing, now is your chance. We may see rates increase a bit more before we see them decrease. What is impacting rates is high demand for stocks and a lower demand for bonds in the US. There are a couple of upcoming events that could impact the stock market in a negative way and thus drive more investors to bonds. One is the Federal Reserve which meets this week. They are expected to increase rates by 0.25% (not directly related to mortgage rates). If they do something contrary to that, the stock market may react negatively. The other event to watch is Italy. If Italy decides to break away from the Euro in early 2017, world financial markets and our stock market may decrease. If one or both events happen, we may see people turn to bonds instead of stocks. When this happens mortgage rates typically decrease.

Rates provided by Brian Spaans of First Bank and Trust.  Call him directly at 605-782-8080 for more information.

Supply and Demand for October 2016

by Solus Real Estate Group

SUPPLY OF HOMES ON THE MARKET

September and October 2016

 

    This shows how many months supply of houses are on the market.  These numbers reflect an average length of time a home was on the market before selling.     

                                                                                      

Price Range

September 2016

October 2016

Supply Oct 2015

$1,000-$100,000

3.8 Months

3.0 Months

5.0 Months

$100,000-$150,000

2.6 Months

2.6 Months

2.8 Months

$150,000-$200,000

2.9 Months

2.4 Months

3.2 Months

$200,000-$250,000

3.8 Months

3.3 Months

4.2 Months

$250,000-$300,000

4.4 Months

4.2 Months

5.0 Months

$300,000-$350,000

5.6 Months

4.4 Months

4.4 Months

$350,000-$400,000

6.4 Months

5.6 Months

6.4 Months

$400,000-$450,000

8.7 Months

6.9 Months

8.8 Months

$450,000-$500,000

7.7 Months

7.7 Months

7.4 Months

 

 

What does this mean for you?  If you are selling, you can estimate how long your home might be on the market.  As a buyer, this gives a sense of how quick you need to be with writing an offer. 

 

Conventional:     30 year 3.875%         20 year 3.75%        15 year 3.25%   

FHA, VA, Rural Development   30 year 3.25%     15 year 2.875% SD Housing First Time Buyer     Conventional: 30 year 3.625%     30 year PLUS 4.125% (3% gift for down payment from SD Housing)   

FHA, VA, Rural Development   30 year 3.125%  30 year PLUS 3.625% (3% gift for down payment from SD Housing)          Rates by Brian Spaans of First Bank & Trust.

 

Yes, it is a great time to buy and sell!

The Solus Real Estate Group is here to serve in all of your Real Estate needs.

 Give us a call to see how these low mortgage rates could benefit you!!

 
   

 

 

Harlan TenNapel-harlan@solusrealestategroup.com

mark youngberg- mark@solusrealestategroup.com

Erika Boen – erika@solusrealestategroup.com

Displaying blog entries 1-10 of 152

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Photo of Solus Real Estate Group Real Estate
Solus Real Estate Group
Ameri/Star Real Estate
5900 S Western Ave
Sioux Falls SD 57108
(605) 274-7273
605-336-9600
Fax: (605) 336-7749

Solus Real Estate Group Specializes in Selling or

Buying Homes and other Real Estate or Property in the Sioux Falls, South Dakota Region.