South Dakota Real Estate Trends - A New Way to Look at South Dakota Realty

Recent trends in South Dakota real estate indicate that prices have evened out as buyer’s and seller’s negotiate a new understanding of the value of property in the modern economic climate. Between the end of 2011 and April of 2012, the average price for a condo or townhouse in South Dakota went from $144,000 to $147,000. Single family homes, both in and out of the city, averaged a list price of $308,000 at the end of last year and seller’s are now asking an average of $275,000. With approximately 41% of the market share, single family homes and townhouses/condos constitute the foundation of the South Dakota real estate market.

While the seller’s of single family homes and condos/townhouses seem to have agreed upon the correct price point for South Dakota real estate, evidence indicates that buyer’s are responding well. While the average single family home is on the market for just over 6 months, the few urbanites in South Dakota are snapping up condos only 37 days after they are listed.