Rapid City Real Estate Market Report - May 2011

Yikes! It's been a busy summer. August and I'm finally catching up on my market report blogs. Oh well - at least the data is getting out there...late as it may be.

Rapid City real estate continues to hummmmmm right along.

In single family homes, we had 9% fewer listings than last year at the same time, BUT sold just 3 units less. There was an increase in days on market from 76 days to 92 days, but it all turned out OK in the long run....average home prices were UP about 4% from last year.

New construction continues to adjust itself. After making some big gains the past few months, it has been leveling out and finding its place. 17% fewer sold listings than the same time last year, but the days on market down 12.6%. All in all, average sale prices were down 4.5%.

As always, steam rolling ahead!

Check out my Facebook business page to keep up with me and Rapid City real estate!

Hopefully I'll get the next months caught up here in the next day or so........

- Tristan

Tristan Emond
Prudential Kahler REALTORS(r)
www.rapidhomesonline.com