Monthly RASE MLS Statistics
RASE March 2012 Housing Market Statistical Reporting
Sioux Falls, SD – April 6, 2012:
Let’s talk about data. Navigating through a complex and fast-moving marketplace is tough work. Agents are being called upon to provide fact-based guidance in a
timely fashion – and rightly so. MLS data is detailed, accurate and very much “now.” It makes the magic of data-driven decision-making possible. So go ahead, channel the collective energy of your hard-earned status changes and let’s see what the facts tell us about March 2012. Happy data-ing.
New Listings in the Sioux Falls region increased 0.9 percent to 572. Pending Sales were up 10.2 percent to 280. Inventory levels shrank 9.2 percent to 1,816 units.
Home prices are slowly starting to turn a corner. The Median Sales Price increased 13.3 percent to $145,000. Days on Market was up 14.4 percent to 106 days. Absorption rates improved as Months Supply of Homes for Sale was down 9.9 percent to 7.3 months.
For better or worse – usually better – housing is closely tied to the broader economy. As much as we’re in the valley of a residential real estate rebalancing act, it’s important to keep tabs on economic changes. Recent improvements suggest that there may be a stirring of optimism in the center of this market. But not all sub-markets will move together. “You can observe a lot just by watching.” – Yogi Berra
Greg Sax, 10k Research & Marketing
RASE March 2012 Housing Supply Outlook
RASE March 2012 Monthly Market Indicators