Market Update- June 2015

The Siouxland real estate market is continuing to be a strong sellers market into June of 2015.  With 415 homes on the market in all of Siouxland, the number of homes for sale is down 28.2% over June of 2014.  Since January 1, 2015 616 homes have sold. This equates 201 homes sold in the month of May.

The average number of days on the market has only shortened .09% over the past year, and .96% since last month. Homes in average or better condition are selling much faster, many times within a week, and in quite a few cases in only one day.

The average listing price of homes sold has risen to $205,472 up 9% over June of 2014.

There continues to be a surplus of buyers at this time and many homes are receiving multiple offers when put on the market.  For someone contemplating selling their home, now is a great time to sell.  Interest rates crept up over the last few weeks with an FHA loan around 3.865% and conventional loans on new home purchases around 3.5%, but this has not deterred buyers.

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