Finally – the report is in! Rapid City Real Estate stats for the month of April!
We are seeing some activity! At our company, we have a board to enter listings and one for sales – 30 lines each. We get a party if we fill up both boards in the month. Well, so far we have had 2 parties for the past 2 months, and we are in line to get a 3rd!
Interesting numbers this month…
Across the board, sold residential Rapid City listings are down 7%, and the under contracts are down 32% from last year. As I am looking at those figures and scratching my head – my assessment would be they are down due to the expiration of the tax credit. To qualify for that credit last year, the home had to be under contract by April 2010. And since none of us ever procrastinate…
New construction is taking a dip. Average sale prices are down 11%. The sold numbers are stable and the days on market continues to beat 2010 on the head, but builders must be taking some hits to move some inventory that got built back up.
On the plus side, single family residential is holding it’s own. It’s taking 2% longer to sell the homes than last year, but the average sales price is up almost 8%…from $165,500 to $178,500.
Here are the graphs:
Things continue to roll along. I have seen more activity in my personal business, and hope to see that continue.
Waiting for the cold spring to end and the warm spring to get here…
– Tristan
Tristan Emond
Prudential Kahler REALTORS(r)
www.rapidcityhomes.net
Originally posted at http://activerain.com/blogsview/2306333/stats-for-the-month-of-april-in-rapid-city-south-dakota