HomeView Magazine Feb. 2, 2023

zero entry 1,543-sq.ft., 3 bedroom, 2 bath plan features easy living and design sure to please. High inviting entrance with always warm in-floor heat throughout entire home. Granite countertops and kitchen backsplash tile accents with eatin island. There is plenty of room in the master suite which includes walk-in tiled shower with large walk-in closet. Oversize 3 stall heated garage. Mechanical room doubles as a storm shelter with 8” thick fully reinforced concrete walls poured with 4’ footings below and double doors for worry-free storm protection. Large covered front and back patios for sitting.

bedroom with 3/4 shower, granite, heated floor, WIC.

basement with 2 large bedrooms (walk-in closets), full bath and family room. Two car garage, concrete patio/composite deck. Includes sod, sprinkler, landscaping rock and edging.

3 Beds, 2 Baths

Travis LaQua 605-728-9460

Hegg REALTORS Sioux Empire Realty Group

Travis LaQua 605-728-9460

Hegg REALTORS Sioux Empire Realty Group

505 S. Quartzite Ave. - $514,000

3 Beds, 2 Baths

Chuck Moss 605-376-6722

Chuck Moss Real Estate LLC

HARRISBURG

3 Beds, 2 Baths Travis LaQua 605-728-9460

Hegg REALTORS Sioux Empire Realty Group

Paul Fick Homes proudly uses products and services from these companies:

Todd

Nelson // Broker // 605.321.9147

// todd@toddnelsonrealtor.com

ROLLING HILL DR., RUNNING WATER, SD - $55,000

NEW LISTING ON LAKE BRANT! Andrew Kuyper Senior Mortgage Banker • NMLS #473256 605.261.3700 applywithandrew.com Your Home is Waiting. All credit and loan products are subject to credit approval. Loan programs subject to qualification. NMLS #463950

Looking for a peaceful setting with wonderful wildlife habitat and cover for deer and pheasants? Look no further than this 23-acre parcel with building eligibility. Only 30 minutes from Sioux Falls and includes pasture land, shelter belts, creek and 6 +/- tillable acres. Must see the layout of this property to appreciate its beauty. Part of parcel in the flood plain because of the creek running through pastureland. Big Sioux Rural Water, Sioux Valley Electric and Goldenwest Communications all available at the site.

Fabulous Brandon home with great curb appeal, tasteful landscaping and situated in a superb neighborhood! Enter a spacious foyer with wood floors and coat closet. A classy wrought-iron railing accents the stairway leading you up to a bright, vaulted living room. The adjoining kitchen has unique architecture and layout with angled countertops, an island, pantry and fantastic dining area surrounded by windows! The slider off the living room leads to an amazing screened-in and covered deck! The main level primary bedroom boasts a walk-in closet, tray ceiling and access to pass-through full bathroom across from bedroom two. Enjoy endless hours in the vast and open lower-level family room, including a gas fireplace with cultured stone surround, ceiling fan and garden level windows. Third bedroom with walk-in closet and full bathroom complete the lower level, along with a water softener, radon mitigation system and the gun safe stays with home! Windows enhanced by wood blinds and 6 panel oak doors throughout the home. Beautiful trees adorn the gorgeous backyard and a marvelous, circular shaped paver patio for your fire pit evenings! Imagine… this special and unique home can be YOUR home!

RASE 2022 HOUSING MARKET STATISTICAL REPORTING

-46.7% Change in Closed Sales

+11.6% Change in Median Sales Price

-0.2% Change in Inventory

MONTHLY INDICATORS: 2022 was a turbulent year for the U.S. housing market, as inflation, soaring interest rates, and elevated sales prices combined to cause a slowdown nationwide. Affordability challenges continue to limit market activity, with pending home sales and existinghome sales down month-over-month and falling 37.8% and 35.4% year-over-year, respectively, according to the National Association of REALTORS® (NAR). Higher mortgage rates are also impacting prospective sellers, many of whom have locked in historically low rates and have chosen to wait until market conditions improve before selling their home.

New Listings in the Sioux Falls region increased 14.5 percent to 276. Pending Sales were down 29.0 percent to 350. Inventory levels fell 0.2 percent to 920 units.

Prices continued to gain traction. The Median Sales Price increased 11.6 percent to $289,000. Days on Market was down 1.4 percent to 72 days. Buyers felt empowered as Months Supply of Homes for Sale was up 15.0 percent to 2.3 months.

Economists predict sales will continue to slow and housing prices will soften in many markets over the next 12 months, with larger price declines projected in more expensive areas. However, national inventory shortages will likely keep prices from dropping too much, as buyer demand continues to outpace supply, which remains limited at 3.3 months, according to NAR. Even if prices fall, many prospective buyers will find it difficult to afford a home in 2023, as higher rates have diminished purchasing power, adding hundreds of dollars to monthly mortgage payments.

+78.6% Price Range With the Strongest Sales: $800,001 to $900,000

+9.1% Construction Status With Strongest Sales: New Construction

-6.4% Property Type With Strongest Sales: Condo-Townhouse Attached

HOUSING SUPPLY OVERVIEW: In an effort to attract buyers amid slowing traffic and declining home sales, U.S. homebuilders have been increasingly reducing prices and offering sales incentives this year. According to the National Association of Home Builders, 36% of single-family homebuilders reported cutting prices as of last measure, with an average price reduction of 6%. Meanwhile, 59% of builders reported offering sales incentives, including price discounts, paying closing costs or fees, and offering free upgrades or price discounts, among others. For the 12-month period spanning January 2022 through December 2022, Pending Sales in the Sioux Falls region were down 13.8 percent overall. The price range with the largest gain in sales was the $800K to $900K range, where they increased 78.6 percent.

+17.6% Change in New Listings

-47.7% Change in Closed Sales

+11.5% Change in Median Sales Price

The overall Median Sales Price was up 14.7 percent to $296,000. The construction type with the largest price gain was the New Construction segment, where prices increased 20.8 percent to $350,300. The price range that tended to sell the quickest was the $200K to $250K range at 63 days; the price range that tended to sell the slowest was the $1M and Above range at 98 days.

Market-wide, inventory levels were down 0.2 percent. The construction type that gained the most inventory was the New Construction segment, where it increased 2.9 percent. That amounts to 2.2 months supply for Single-Family homes and 2.8 months supply for Condos.

Here is your opportunity to own a lakefront compound that includes 4 lots in total with your own boat ramp on Lake Brant. Each lot measures 40ft x 80ft. Large kitchen features plenty of hickory cabinets, dual ovens and is open to living room. Entire main level has in-floor heat. Living room features projection TV with whole home audio and slider to patio with lake views. Two sizeable bedrooms with large walk-in closets and in-floor heat on upper level. Hickory trim and 3 panel hickory doors throughout. 9000 watt generator hooked up to home. Water and sewer on 3 of the 4 lots which provides plenty of room for expansion. Forty feet of beached shoreline to enjoy those summer sunsets with a bonfire and making memories with your family. Sale includes more than 60 feet of dock. (2) 110 amp outlets and (2) 220 amp outlets for campers on the property. Back two lots have a metal storage/workshop building with propane heat and another oversized double garage.

4892 N. SPAWN CIRCLE, CHESTER, SD - $729,900