ITS YOUR BUSINESS

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RASE Figures Show July Sales Slowed but Higher in 2010 vs 2009
By Bill Zortman
Key Real Estate
Broker Associate
 

2010 has been a strange year for Real Estate. The governments $8000 and $6500 programs have given some bounce and thuds. What is obvious is that Sioux Falls and the Sioux Empire have done far better than others around the country.

With 600 or so Real Estate Agents across the Sioux Empire – each has a different take on what the year has been and where it’s going before 2011 strikes.

We’re bombarded with headlines “Recovery loses team.” “Housing demand in a slump.” “Tax credit leaves mess in its wake.” Some have merit and some don’t. The truth is, the economy is now driving the house market and not vice versa.

Sioux Falls is up by 5.7% for the first seven months of house sales. However Harrisburg, Brandon, Dell Rapids, and Lennox have double digit drops.

Tea is up along with Worthing and Parker.

When you look at the 31 days of July in 2010 vs 2009 – Sioux Falls sales are off 34.6%, Dell Rapids 50%, Brandon 57.1%, and Tea 81.8%.

Most agree that it is the economy but others say July reflected that $8000 tax credit for sales signed, though not closed by April 30th. The rest of 2010 is what we use our realtors for. On It’s YOUR Business we have talked with the President of RASE Todd Headrick and the CEO Kristen Gulson. Other realtors and mortgage lenders discussed Harrisburg and Canton in one show and then discussed where we were going as well. Our thanks to John Schuette from Farm and Home and Brian Hines from Ameri-Star as well as Scot McManny from Great Western Bank. Listed for more in future shows.

1st 7 months of 2009 vs 7 months of 2010 House Closing Report

 1. Sioux Falls         1238     1309    +5.7%
 2. Harrisburg           104       69   -33.7%
 3. Brandon               89       65   -27.0%
 4. Tea                   48       52    +8.3%
 5. Dell Rapids           37       33   -10.8%
 6. Hartford              26       25    -3.8%
 7. Canton                22       20    -9.1%
 8. Lennox                17       13   -23.5%
 9. Worthing              10       12   +20.0%
10. Garretson             10        9   -10.0%
11. Parker                 4        6   +50.0%

Sioux Falls MSA         1684     1690    +0.4%
Total MSA Area          1834     1851    +0.9%


July 2009 Vs 2010 House Closing Report

 1. Sioux Falls          243      159   -34.6%
 2. Brandon               21        9   -57.1%
 3. Hartford               3        5   +66.7%
 4. Harrisburg            21        4   -81.0%
 5. Dell Rapids            6        3   -50.0%
 6. Garretson              2        3   +50.0%
 7. Tea                   11        2   -81.8%
 8. Parker                 2        2     0.0%
 9. Canton                 6        2   -66.7%
10. Lennox                 3        1   -66.7%
11. Worthing               3        1   -66.7%

Sioux Falls MSA          338      205   -39.3%
Total MSA Area           377      230   -39.0%


2009 Vs 2010 New House Listings

1. Sioux Falls         2554     2627    +2.9%
2. Harrisburg           175      171    -2.3%
3. Brandon              171      165    -3.5%

4. Tea                  118      120    +1.7%
5. Hartford              59       63    +6.8%
6. Dell Rapids           81       63   -22.2%
7. Lennox                38       47   +23.7%
8. Canton                42       33   -21.4%
9. Parker                27       32   +18.5%
10. Garretson             28       31   +10.7%
11. Worthing              25       11   -56.0%

Sioux Falls MSA         3524     3560    +1.0%
Total MSA Area          3994     4057    +1.6%

 
July 2009 Vs July 2010 New House Listings

 1. Sioux Falls          418      324   -22.5%
 2. Harrisburg            25       36   +44.0%
 3. Brandon               23       26   +13.0%
 4. Tea                   19       18    -5.3%
 5. Lennox                 8        8     0.0%
 6. Dell Rapids           14        8   -42.9%
 7. Hartford               6        7   +16.7%
 8. Canton                 6        5   -16.7%
 9. Garretson              3        4   +33.3%
10. Parker                 4        3   -25.0%
11. Worthing               4        1   -75.0%

Sioux Falls MSA          562      476   -15.3%
Total MSA Area           614      543    -8.9%

Its Your Business is fun and lively with a special focus on local businesses that are enjoying success.  Every show highlights a sculpture on the Sioux Falls Sculpture Walk, as well as news from financial advisor Todd Neuberger at Edward Jones.

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