he Sioux Falls single-family home market is on a subtle incline, driven by increasing demand and stable inventory levels. As a real estate expert, I’m here to break down what this means for buyers and sellers.
Market Overview Summary
The current state of the Sioux Falls single-family home market is characterized by a stable to slightly heating up trend. Inventory levels are relatively stable, while demand is showing signs of increase.
Regional Performance Analysis
The top-performing ZIP codes in terms of sales activity are 57108, 57103, and 57110. These areas are seeing significant sales activity, with the 57108 ZIP code boasting average sales prices exceeding $1.2 million.
Property Attributes Deep Dive
Properties with higher prices tend to have more bedrooms and bathrooms, larger square footage, and are located in desirable neighborhoods.
Buyer and Seller Behavior Trends
The average sales price as a percentage of list price is around 98-100%, indicating that buyers are generally willing to pay close to the asking price.
Time-Based and Seasonal Patterns
The market is experiencing a seasonal resurgence, with an upswing in new listings and pending sales over the past 30-60 days.
Strategic Takeaways for Buyers and Sellers
To succeed in this market, sellers should prioritize competitive pricing and property presentation. Buyers should be prepared to negotiate, particularly in the $300,000-$500,000 price band.
For more information or to discuss your real estate needs, please don’t hesitate to contact me.
Thoughts and Meandering Opinions of Realtor Craig Bertrand 
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