HomeView 030223

500 S. Quartzite Ave., Tea, SD

• $435,000

3 Bed • 2 Bath • 1,357-Sq.Ft.

This zero-entry 1,357-sq.ft., 3 bedroom, 2 bath home features easy living and design sure to please. Large inviting entrance with high ceilings and accents throughout. Painted cabinets, granite countertops and kitchen backsplash tile accents with eat-in island. There is plenty of room in the master suite which includes walk-in shower, heated tile floors and large walk-in closet. Oversized 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. Covered front patio for sitting as well as a larger outdoor concrete patio in back with overhead cedar pergola. Located in Boulder Addition in Tea just south of new Hy-Vee.

505 S. Quartzite Ave., Tea, SD

• $514,000

3 Bed • 2 Bath • 1,543-Sq.Ft.

This 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. Quartz countertops and kitchen backsplash tile accents with eat-in island. There is plenty of room in the master suite which includes walk-in tiled shower with large walk-in closet. Oversized 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. Located in Boulder Addition in Tea just south of new Hy-Vee.

Ranch home built in 2017 on large cul-de-sac lot with 5 large bedrooms, 4 bathroom, open floor plan on both levels, and a large fully finished oversized 3-stall garage in the Brandon Valley school district. The kitchen and dining is open to the main floor living room and has a large center island with granite countertops and a large pantry. Sliding doors off of the kitchen out to a nicely finished FOUR SEASONS room with heat and A/C. Main floor laundry, lockers, and a half bath between the kitchen and garage. The garage is finished and heated with water hookups, drains, epoxy floors and stairway down to the basement with a huge family room, full wet bar, office, plenty of storage, 2 more large bedrooms, full bath & a 1,005-sq.ft. finished core floor room with IN-FLOOR HEAT throughout the basement to include the core floor room! Outdoor sunken hot tub, basketball pad, beautiful landscape, and sprinkler system. Nine-foot ceilings and built-in stereo surround sound system throughout the home! NEW ROOF AND GUTTERS.

448 BLUE OX CIR., HARRISBURG, SD • $600,000

Thoughtfully designed and tastefully appointed, this three bedroom (all main), two bathroom ranch is located on the cul-de-sac in the Mill's Creek addition of Harrisburg. Easy flow floorplan features a wide open living, kitchen, dining space with the master and two additional bedrooms on opposite ends of the home. The use of pocket doors ties the master bath to the big walk-in closet and onto to the laundry and mud rooms. Upgrades in this home include a full stone front, glass foyer railing system, gas fireplace, tiled showers in both bathrooms, casement windows and transoms, quartz kitchen counters, custom range hood, deluxe black stainless appliances, onyx in bathrooms and epoxied garage floor. Other features include lockers in mudroom, covered deck, custom window wells, framing in basement, heat, water and drain in the garage. Sprinkler, sod and perimeter of home landscape are included. Listing agents have a financial interest in the property.

RASE 2023 HOUSING MARKET STATISTICAL REPORTING

The U.S. housing market began the year in a state of rebalance, with many buyers and sellers remaining cautious while they wait to see where the market is headed. Nationally, pending sales rose 2.5% month-to-month, marking the first increase since May, while sales of existing homes fell 1.5% as of last measure, according to the National Association of REALTORS® (NAR). Demand for housing persists, but higher mortgage interest rates have cut into housing affordability, with total home sales down 17.8% last year compared to 2021.

New Listings in the Sioux Falls region increased 9.5 percent to 393. Pending Sales were up 3.2 percent to 288. Inventory levels rose 1.0 percent to 945 units.

Prices continued to gain traction. The Median Sales Price increased 3.1 percent to $278,500. Days on Market was down 12.5 percent to 77 days. Buyers felt empowered as Months Supply of Homes for Sale was up 20.0 percent to 2.4 months.

As sales slow, time on market is increasing, with the average home spending 26 days on market as of last measure, according to the NAR. Seller concessions have made a comeback, giving buyers more time and negotiating power when shopping for a home. Although home prices remain high, mortgage rates declined steadily throughout January, falling to their lowest level since September, sparking a recent surge in mortgage demand. Lower rates should aid in affordability and may soon lead to an uptick in market activity ahead of the spring selling season.

For the first time in a year, homebuilder confidence has increased, rising 4 points to 35 in January, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Elevated sales prices, coupled with a surge in mortgage rates, caused demand for new homes to plummet in 2022, with builder sentiment declining throughout the year. The recent rise in builder optimism may be due in part to new home sales, which increased 2.3% month-to-month as of last measure, according to the U.S. Census Bureau. For the 12-month period spanning February 2022 through January 2023, Pending Sales in the Sioux Falls region were down 15.0 percent overall. The price range with the largest gain in sales was the $800K to $900K range, where they increased 85.7 percent.

The overall Median Sales Price was up 13.8 percent to $295,950. The construction type with the largest price gain was the New Construction segment, where prices increased 18.0 percent to $350,000. 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 up 1.0 percent. The construction type that gained the most inventory was the New Construction segment, where it increased 14.8 percent. That amounts to 2.3 months supply for Single-Family homes and 3.0 months supply for Condos.

KRISTEN GULSON Chief Executive Officer

12-MONTH PERIOD SPANNING 2/2022 THROUGH 1/2023

Chuck

LOTS IN BRANDON AND TEA AVAILABLE FOR BUILT-TO-SUIT OPPORTUNITIES!

This zero entry 1,357-sq.ft., 3 bedroom, 2 bath home features easy living and design sure to please. Large inviting entrance with high ceilings and accents throughout. Painted cabinets, granite countertops and kitchen back splash tile accents with eat-in island. There is plenty of room in the master suite which includes walk-in shower, heated tile floors and large walk-in closet. Oversized 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. Covered front patio for sitting as well as a larger outdoor concrete patio in back with overhead cedar pergola. Located in Boulder Addition in Tea just South of new Hy-Vee.

This 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. Quartz countertops and kitchen backsplash tile accents with eat-in island. There is plenty of room in the master suite which includes walk-in tiled shower with large walk-in closet. Oversized 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. Located in Boulder Addition in Tea just south of new Hy-Vee.

Todd Nelson // Broker // toddnelsonrealtor.com // todd@toddnelsonrealtor.com

horses with fence around entire property and pens set up. Newer roof. Home has two mini splits to maximize energy efficiency. Property has private well. Kingbrook rural water is a available with $100 app fee and $1,500 hook up charge to the system.

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.

ROLLING HILL DR., RUNNING WATER, SD

- $55,000 & $65,000

ONLY TWO LOTS LEFT! Own your own slice of heaven near the village of Running Water. Beautiful Missouri River views with public access nearby. If you are a hunting enthusiast there are public hunting grounds close by filled with deer, turkey and waterfowl.

Looking for a peaceful setting with wonderful wildlife habitat and cover for deer and pheasants? Look no further than this 24.96-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.

*Detached garage not included

Matt’s on the move! Are you?

Meet Matt!

As a RE/MAX® agent and Sioux Falls native, I’m dedicated to helping my clients find the home of their dreams. Whether you are buying or selling a home or just curious about the local market, I would love to offer my support and services. I know the local community — both as an agent and a neighbor — and can help guide you through the nuances of our local market. With access to top listings, a worldwide network, exceptional marketing strategies and cutting-edge technology, I work hard to make your real estate experience memorable and enjoyable.

I look forward to the opportunity to work with you. Please don’t hesitate to contact me today!

604 Brannon Dr., Harrisburg, SD - $639,900

Quality-built 6 bedroom, 3 bath garden level ranch with oversized heated triple garage. Open floor plan with vault ceilings in the kitchen/living/dining area. Kitchen features Quartz tops, backsplash, custom hickory cabinets, gray stainless appliances and corner pantry. Gorgeous floor-to-ceiling stone Mendota fireplace in living room. The dining area has a slider to covered patio, privacy fenced backyard and sprinkler system front and back. Primary suite includes walk-in closet, double vanity and tiled shower. Spacious family room in the basement with wet bar that has hidden door that leads to utility room and 8 x 12 concrete storm shelter or safe. Both 2nd and 3rd baths have Whirlpool tubs with tiled surrounds. For your convenience, the main floor laundry is near the bedrooms with a second hook up in the basement. To help with the energy bills, you will find an energy-efficient furnace, on-demand water heater and spray foam used throughout the house and garage.

Todd Nelson // Broker // 605.321.9147 toddnelsonrealtor.com // todd@toddnelsonrealtor.com