Rapid City

I sit in the March sunshine (forecast for 69 degrees today) enjoying our gorgeous weather. The cold snows of a couple weeks ago are melted and a few hardy blades of grass have all ready turned green. I know it is still March in Rapid City – there is probably more snow to come – but I will take advantage of what is outside right now. It kind of reminds me of the Rapid City housing market conditions.

Our appreciation rate isn’t the same it was several years back when a buyer needed to compete with multiple offers, move fast, and find something in the limited choices not under contract. However, the Rapid City housing market is stable. As the saying goes, our highs are not as high and our lows are not as low. Currently, there are programs still available to help people with good credit buy homes they can afford. Interest rates have been so low for so long we take them for granted. They are still around helping people afford more home for the money.

Selection favors buyers now. Selection varies by price point, but there is something available in most categories. For instance, our MLS has 908 single family residences currently active. If you restrict those to only the Rapid City defined area, there are still 347 homes available. We have 38 homes under $100,000, 36 homes $100,000 – $125,000, 46 more up to $150,000, 49 more up to $175,000, with an additional 52 under $200,000. We have 86 homes in the 200s, 18 in the 300s and 23 over $300,000. Choice is available – interest rates are great – even in a stable market like ours there are good buys for buyers.

If you would like to know which of the homes available meet your desires in Rapid City please let me know.