Rapid City Real Estate Market Report - June 2011

Rapid City Real Estate market report and stats for June 2011:

June was a crazy month! I personally had the best month of my career, closing on 5 properties. Hence, catching up on my market stats has been pushed off until...well, now!

June saw some amazing stats in the Rapid City area. As an office, we filled up our sale and listing boards 3 months in a row...resulting in an office party, of course. Since May was really cold, and we were wondering in April if Spring was ever gonna come, the spring time "let's go buy a home" hit a bit later! It didn't get hot until the first week in July!

Total residential saw a spike of under contract listings - up 27% from the same time last year. And that is on a market where there are 105 less units avaialable. Even the number of sold listings inched past last years numbers.

In single family homes, the number of sold homes was up 6%. Days of market were a bit longer, but the average sale price was up a whopping 7.3% from the same time frame last year.

New construction held it's own with numbers staying pretty similar - with the exception of a 21% drop in the number of new construction homes sold.

Summer time fun!

Certainly can't complain!

Give me a call or email if I can answer Rapid City real estate questions or help out in any way!

- Tristan

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