The September real estate market in Rapid City, SD showed small gains over last month (and last year)…
Alot of the information is similar –
Decreases in number of homes on the market (many sellers not willing to keep their homes on the market through the Holidays…they’ll re-list in the Spring)
Increase in number of single family units sold (up 8.5%)
Decrease in number of new construction units sold (down 15.8%)
Decrease in average sold price (new construction) by 1.7% – which is up from last month’s 3% drop.
And an increase in average sold price in the single family division…up 3.16% – much better than the almost nonexistent .2% last month.
One item to really point out is the number of under contract listings. Down to 92 from 112 last year. We’ll see how that affects the stats the next couple of months.
September in the halls was kind of a weird month. Some agents remained busy. A few top producers were strangely slow. It was like everything just dropped. Then all the sudden it got busy again. It’s been a challenging year of peaks and valleys. But as the stats show, staying steady, moving along.
Now to get caught up on October…. 🙂
– Tristan