Housing Market to Hold Steady in 2014 - KOTA Territory News

Housing Market to Hold Steady in 2014


The national housing market was a bit unstable in 2013. Fortunately, Rapid City bucked the trend.

Homes here increased in value for the third straight year, and the number of homes that are selling has risen for the fourth year in a row. Broker Associate, Dave Jones says the trend is partly due to a stable economy and work force and doesn't expect much of a change in 2014.

"our average sell price is around 200,000 dollars. If you have the right house, it's priced right, and the condition is right it goes under contract, usually within a few days or even a few weeks. Like I said, we have a very strong market."

Interest rates are still good ... but brokers say you need to move quickly if you find a house you like.

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518 St. Joseph St.
Rapid City, SD 57701

Telephone: 605.342.2000
Fax: 605.342.7305

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