LOTS IN BRANDON AND TEA AVAILABLE FOR BUILT-TO-SUIT OPPORTUNITIES!

This zero entry 1,357-sq.ft., 3 bedroom, 2 bath home features easy living and design sure to please. Large inviting entrance with high ceilings and accents throughout. Painted cabinets, granite countertops and kitchen back splash tile accents with eat-in island. There is plenty of room in the master suite which includes walk-in shower, heated tile floors and large walk-in closet. Oversized 3 stall heated garage. Mechanical room doubles as a storm shelter with 8” thick fully reinforced concrete walls poured with 4’ footings below and double doors for worry-free storm protection. Covered front patio for sitting as well as a larger outdoor concrete patio in back with overhead cedar pergola. Located in Boulder Addition in Tea just South of new Hy-Vee.

This zero entry 1,543-sq.ft., 3 bedroom, 2 bath plan features easy living and design sure to please. High inviting entrance with always warm in-floor heat throughout entire home. Quartz countertops and kitchen backsplash tile accents with eat-in island. There is plenty of room in the master suite which includes walk-in tiled shower with large walk-in closet. Oversized 3-stall heated garage. Mechanical room doubles as a storm shelter with 8” thick fully reinforced concrete walls poured with 4’ footings below and double doors for worry-free storm protection. Large covered front and back patios for sitting. Located in Boulder Addition in Tea just south of new Hy-Vee.

Sally Solum 605-759-5109

Exit Realty - Great Plains

7312 E. Twin Pines Ct. - $805,000 5 Beds, 3 Baths 605-336-2121

Century 21 Advantage

SATURDAY - 2:00 - 3:30 PM

408 W. Wildcat Dr. - $775,000 5 Beds, 3 Baths 605-336-2121

Century 21 Advantage

OPEN HOUSE: SUNDAY 1:00-2:30 PM

This is a beautiful 5 bedroom, 4 bathroom home. Includes main floor 1/2 bath and laundry room. Kitchen and dining area have LVP flooring, cupboard space galore, and a slider glass door to a paver patio, hot tub, huge backyard, privacy fence, and corner lot. The living room has a gas fireplace, bay window, shiplap wall, vaulted ceilings, and the entry way is large, tiled, and has a generous sized coat closet. Large master bedroom has master ensuite 3/4 bath and walk-in closet. Three bedrooms on the same level along with a second tiled full bath. The lower level has a family room with garden level windows, another 2 bedrooms, and full bathroom. There is also a second family room with a bar, and egress window. It boasts another storage room separate from the mechanical room. The 3-stall garage completes this fantastic home and includes a gas heater, water drain, and hot/cold water. 2020 roof!

KRISTEN

Chief Executive Officer

Rase 2023 Housing Market Statistical Reporting

The U.S. housing market began the year in a state of rebalance, with many buyers and sellers remaining cautious while they wait to see where the market is headed. Nationally, pending sales rose 2.5% month-to-month, marking the first increase since May, while sales of existing homes fell 1.5% as of last measure, according to the National Association of REALTORS® (NAR). Demand for housing persists, but higher mortgage interest rates have cut into housing affordability, with total home sales down 17.8% last year compared to 2021.

New Listings in the Sioux Falls region increased 9.5 percent to 393. Pending Sales were up 3.2 percent to 288. Inventory levels rose 1.0 percent to 945 units.

Prices continued to gain traction. The Median Sales Price increased 3.1 percent to $278,500. Days on Market was down 12.5 percent to 77 days. Buyers felt empowered as Months Supply of Homes for Sale was up 20.0 percent to 2.4 months.

As sales slow, time on market is increasing, with the average home spending 26 days on market as of last measure, according to the NAR. Seller concessions have made a comeback, giving buyers more time and negotiating power when shopping for a home. Although home prices remain high, mortgage rates declined steadily throughout January, falling to their lowest level since September, sparking a recent surge in mortgage demand. Lower rates should aid in affordability and may soon lead to an uptick in market activity ahead of the spring selling season.

For the first time in a year, homebuilder confidence has increased, rising 4 points to 35 in January, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Elevated sales prices, coupled with a surge in mortgage rates, caused demand for new homes to plummet in 2022, with builder sentiment declining throughout the year. The recent rise in builder optimism may be due in part to new home sales, which increased 2.3% month-to-month as of last measure, according to the U.S. Census Bureau. For the 12-month period spanning February 2022 through January 2023, Pending Sales in the Sioux Falls region were down 15.0 percent overall. The price range with the largest gain in sales was the $800K to $900K range, where they increased 85.7 percent.

The overall Median Sales Price was up 13.8 percent to $295,950. The construction type with the largest price gain was the New Construction segment, where prices increased 18.0 percent to $350,000. The price range that tended to sell the quickest was the $200K to $250K range at 63 days; the price range that tended to sell the slowest was the $1M and Above range at 98 days.

Market-wide, inventory levels were up 1.0 percent. The construction type that gained the most inventory was the New Construction segment, where it increased 14.8 percent. That amounts to 2.3 months supply for Single-Family homes and 3.0 months supply for Condos.