it's money, money, money by the pounds.
Everybody its Tristan Emond with mindful living Realty, a realtor right here in rapid city, South Dakota. Welcome back to my YouTube channel. I talk everything about moving to rapid city and the wonderful things about rapid city and the black Hills. Today's video. We're going to answer the question. So how much does it cost to buy a home in the rapid city and black Hills area?
Let's go to my website, check out the prices, check out the homes so you can get a feel what you would expect to spend on a property in the Rapid City Area. Right, So the first thing we're going to do is going to take a look at the rapid city areas, because we're gonna be talking about areas and how it relates to price point.
So let's go ahead and look at this. I've just put together this map that talks about the different areas within rapid cityand, and the black Hills, andmostly just highlighted rapid city and the areas around rapid city, rapid city, city limits in blue and the surrounding areas in the yellow.
So let's scroll in here. You can see here that. Rapid city in itself is separated in half by the series of Hills, kind of right here. You've got dinosaur park and the skyline drive right here. And then this is the Hanson Memorial park with the M hill right there. And so this area right in here is the gap taking you from west side or up city to east side, rapid city.
So you can see as we pull out a little bit here, this area here, here, this here, Northwest rapid city Up here is North this is Northeast coming down here to this side of highway of this highway right here. This is Elk Vale road. So this here it is rapid valley and it's not quite exactly my, my lines. Aren't exactly correct.
According to the way things are, but they're giving a good idea. Uh, this bigger part here is Southeast. This is city central city. And this year it was historic west Boulevard district. And that is everything from eighth street, all the way up to skyline drive here. So all the area in here and this over here is Southwest Lets go a little bit as we get outside of rapid city, this here is pine Grove area called pine Grove.
This is called black gap. Cause there's a subdivision down here it's called black back here to pine Grove and then that follows highway 16 down heart ranch. And this Arizona over here this here is down sheridan lake road, as it takes you through these developments down here when you'll see colonial pine Hills.
That's the only one, the only the Google talked about talks about being colonial pine Hills. But all these Red rock estates countryside, all these developments down here are in Sheridan lake road area. And then, and this is Southwest again, and also over here is rimrock highway. This is following following 44 out to 385.
And this up here is a Nemo road now to kind of amend my statement before these areas here, they're partially in town, partially outside of town, but they're the areas kind of still considered rapid city as you get into these yellow areas, we'll talk about other cities. So this is hermosa area. This is mount Rushmore area that takes you by Keystone in this area through.
Up here is a box elder, which is a home to Ellsworth air force base. This area up here is called elk Creek because elk Creek road right up here that follows elk Creek. And these areas up in here, everything from Blackhawk, all the way up to this Tilford area. This is called Piedmont valley and then of course you have the area on Sturgis and there's a road going from Sturgis to Deadwood-lead.
What called Boulder canyon and further out from that you've got Northern Hills, you've got Southern Hills and you've got central Hills as well as Northern Plains, Southern Plains. And then anything. Outside of the black Hills area. Whereas, so those are the areas we're talking about. We'll spend most of our time talking about the areas in the blue and maybe a little bit outside of that.
Just kind of give you an idea of the price points in rapid city and the surrounding area. But I need cover the column bunny, single book column. I even wrong with you. All right. Now let's start looking into the prices of the homes themselves. Now I'm on my website, rapidhomesonline.com my site was shows only the active listing.
So we're be dependent today on what is actively on the market right now, but we should get a better, real good idea of what you can find for what price and what areas to a good idea of how to start searching. Now I've got selected. We're just rapid city for now to kind of get an idea of what our first price point up to 250.
What can you get for under an under 250 in the rapid city area? My maps search here.
And this is going from those, the highest price point, all the way to the lowest price point, but you can see right off. What's the first thing you noticed is that anything west side, zero, nothing over here. It's all east side, north side. And of course it's one way out here in rapid valley. So you can see here as we let's go stroll, scroll down here and we'll get to the first page is we'll get to the bottom of this line.
And these ones here at the bottom, under a hundred thousand, all mobile homes, all with no, no land, not no permanent foundation. it's basically a big car, so you have to get cash or special loan to buy. So anything under a hundred thousand is basically going to be mobile home type scenario anything under 120.
I mean, look at this. This is going to be quite the fixer upper to say the least lots of stuff, kind of going on here. I don't look country station Flint. So, I mean a lot new siding, a lot of things going on right there, small little house on the north side of town. This actually is a mobile home here as well.
It's been redone. How about that one? Like that siding. That's pretty nice when they're in under 76, small Lakeridge, definitely a DIY 135. And this is on the south east side of town. East saint Patrick east St. Pat is one of the main areas through town. So you've got a lot of rentals in this area. You've got a lot of busy roads.
They're not, everybody wants to live on east St. Pat, but you can see smaller homes. These are north side as well. This is the Southeast side here. As you can do closer to 150 smaller home, three bedroom, one bath, I'm sorry, this Hawthorne one actually was on north side as well.
That's a manufactured home. This is an older home in west Boulevard. Could be nice. It probably needs some work is my guessing, but 2,400 square feet, four bedrooms, two baths.
And as you get into closer to 200,000, we're starting to gain some bigger properties. This one again, isn't it gonna need some work but definitely should be able to consider the fact that you're going to be spend some money to do some repairs, or you're going to need to do something to get the house, to the point where you're ready to move into it.
I've been to this house here, 130 for 250. I'm kind of surprises to at 250, because it seems like there needs to be enough work in there to really make it worth anything. Even though it says new carpet, new, this new that it actually has a lot of things that are kind of goofy in there I mean that old cabinets and stuff, it's pretty, pretty sad.
The other ones here, this is interesting. This is a smaller, new build, but its only a thousand square feet. So this area here, Brookfield subdivision they do some new constructions, but they are very, very small.
We'll get us some price reductions. I haven't seen the price reductions in awhile.
Um,
so with 200, 220, you're getting to the point where you actually can buy some property. That's a relatively decent but it's going to be smaller. It's probably not, could be as nice as you want. And the ones that are bigger efforts for under 250 probably need some considerable work. There's something that's been in the market for a long time.
There's probably a reason why we wanna make sure we take a look at that. All right. So let's go back to our search. Let's see about to my search here. We'll still say in rapid city, but we'll go from the 250 to the 500.
So we get all the quite a bit more properties and as you notice they're farther out so said you was started downtown and then it grew out. So the areas closer to downtown, those are the areas that are in the smaller homes, older homes. And of course the cheaper homes because of that, as things were developed out and out outside of town, things got to the point where you've got bigger homes and hours like new construction, like this areas and Fieldstone, new construction area.
This is a very nice neighborhood. For, for $400,000, you get this type of property is. 2800 hundred square feet probably built within the last five to 10 years. Possibly nice subdivision type property. So you can get to the inside pictures here. Yeah. Yeah. Very nicely done
for $500,000. One thing you notice here on the. On the map search here is that even here in town, there actually should be more in this area, in the west side of town. However they're getting sold. So if I had a more under contracts on it, I could probably find them on this list, but everything on the west side, under 500,000, he's either sold or there's nothing there, right?
Here's a property on, so this area here, this is that you buy a mobile home but it's on some acreage. So a lot of times when you buy in one acre in town that, that kind of gets you a workplace where you need to be, I'm not sure that 350 is quite the right price for this property, but she'll say you got some great views, that kind of thing.
We've got some new constructions for 360 out in the valley, a lot of, lot of new constructions in the valley.
More new construction.
This is a nice rapid valley neighborhood 225, 1800 square feet, four bedroom, two bath built in 2008.
So nice west Boulevard property for 300, but you know, you gotta like wallpaper and this one. How about that? So it needs some updating that. When I say proper here in Dale, drive a little bit bigger lot. It's like it used to be a duplex, but nothing fancy inside. Very basic property, 2000 square feet at Northside property on dolphin.
Tri-level Looks like they did a pretty good job updating this one. This is 275.
New construction here. Here's the west side one. It just went down $17,000. My goodness,
pretty typical west side location at the fifties bill, probably see that says here, you got your 1955. So you have kind of the older cabinets and the fifties look fifties, these original hardware floors. but you're on the west side of town. So you gotta, you got to pay for that. So that's where we get four from 250 to 500, as you kind of mentioned it.
Again Anything on the west side of town, we're starting at 300,000 just to get into something on the west side of town and who knows a condition or a quality. I looked at a property early this year for 250. And it was completely hasn't been touched since the 1970s. So everything needed to be updated carpets, wallpaper, everything.
So that's kind of what you can expect on the west side of town. And as things continue to grow, we'll probably see the prices just keep going higher and higher. All right, let's go to the next step up from 500. Oops, 500 to 750
In the Rapid city area
We're going to start seeing some more high end properties, a little bit bigger, a little bit finer and a little bit more like for this instance this chipmunk place out Nemo road. So you get a little bit closer to properties out in the Hills and you got a little more land, a little bit acreage.
But anything that has black Hills in the title, obviously the price is going up. Anything that's within 20 to 30 minutes of rapid city is a very hotspot, very desired after neighbor neighborhood. Cause some people want to be, Hey, I want to be in the Hills, but I also want to be close to town. So I'm not far from town.
So that became something that was very. Even a number of years ago, so that all got bought up pretty quick. So if you're looking for a property close to town, with some acreage, and you'll only have 300,000 to spend, you're going to be in trouble. Now you better have above 400 above 500, probably have to get something really nice outside of town.
Maybe it was some acreage or even just on the edge of town. Sometimes in the west side of town, there's some nice properties that are kind of in the foothills that you can get into, but you probably going to need to have at least 500,000 to get him to that side of town. Here's six red rock village.
That's down in Sheridan lake road. Here's a Newer home up here. That's not wanting to load for me.
Let's go back to my map. Here we go.
Here's that property there. So this is their buildings, a few more contemporary style homes up here in Sheridan lake road you can see this kind of a newer look and you actually have some newer constructions here. This one though is probably only about, oh, this one is 3000 square feet actually. And it is a, it was new built, been been, you're buying a twin home though.
You're buying a duplex. So you're only buying half a house, basically. So new, there are some, a bunch of new construction. It's kind of up that way. As, but they're going to have to have a little bit of money to buy any of the Sheridan lake road area. And as you can see in this price point, there's only a few that are active.
Just one, it's a great glass, little home. It's got a great view, but it's sitting kind of on the edge of the hill. You don't have a lot of parking. You'll have a lot of rooms again to make sure you are okay with that. All right. Going back to my search again.
You want a 750 to no limit. Of course. Now we have the fun ones down here is. Million dollar hill, of course, in rapid city, you got skyline drive and there's some nice properties. Other than that, that's where you're going to see a lot more properties out in the Hills. Two to $3 million. These are the ones with nice acreages, big houses.
It's really tough to find a property in the black. That is a smaller house on acreage because back in the day in the eighties, when the seventies and eighties, when they were building these homes, that was the time when you were looking for a big house. We were looking for a big vacation home in the Hills.
So a lot of the properties in the Hills are pretty, they're nice size they're 30,000 square feet, whatever. So finding that 1800 square foot property with a few acres in the Hills, and it's pretty tough. Just kind of give you an idea of how things started and how things that had been built in back in the day.
Let's go back down through here. You can see here, we've got. We're at a 750.
So this one has got two and a half acres and you're, you're kind of with kind of in town, but kind of not in town, some rolling acres there. This is a newly built, a new construction house off Southeast side of town by the elk country states. And we've also got a golf course over there. So you're buying quite a bit of spearfish.
Plus you're getting a nice views of the South Dakota Prairie and the golf course. Here you're out of a property out in black, out in the black Hills, 800,000 for 300, 300, 300. Here's where we're talking 3,400 square feet on three acres, but you need eight hundred thousand dollars to make that happen.
Similarly, we got these, this property out here on white horse, which is on the road up to Custer, but you've, so you've got this big property on, I think the 16 acres, 3000 square feet. And you've got things like that to look at right. And the property, you know, the big property in rapid city, this is in red rock estates.
That's where you're gonna find a lot of your high-end properties as well. Right near the golf course there, I suppose there might be some golf course picture here. Fair, very high end construction, but you're in the subdivision. You don't have a lot of acres. You've put your 0.4, six acres, and it is a subdivision with a lot of other high end homes,
3000 square foot home here. Eight acres 875 grand. All right. So I hope this gives you a good idea, what look at those views and where you can get in rapid city and the surrounding area for over a million dollars. So we're talking about prices in rapid city, and we've also talked about properties just on the outside, in the black Hills of rapid city.
A lot of people have also asked the question, well, what about the smaller towns? Can I get something cheaper? And some of the smaller times, and generally the answer is not really. So let's take a quick look at the bottom end of the price points that some of these cities, just to kind of give you a feel for what you can or might not be able to afford in the cities of showcase what is available.
So let's start up with spearfish throughout the top. And Spearfish is a very popular area. It's become almost more popular and more expensive in rapid city, but you can see here, there are a number of properties here for sale under the 300,000.
Even some for 150. This one looks like a manufactured home here on land. That's manufactured home there for 110 75. That was manufactured home back to my map search. ,
yeah, manufacturer told them they're manufacturing on there. Here's a smaller home there in Spearfish for 300,000 7,200 square feet for 0.15 acre ranch style home.
But as you can see 300,000, isn't getting us a very much of anything, even in the Spearfish area. All right, let's go back to check out sturgis.
But you're looking at being in town in Sturgis.
The same one. There
it's 300,000. Isn't buying very much Sturgis, either back to the map we find.
Let's check out a Somerset to check out Somerset. Somerset is halfway between Rapid City and Sturgis on, I may have halfway, but it's about 20 to 25 minutes away from rapid city along I90
and that's going to be very popular neighborhood in this area. And, and there's nothing nothing for sale. I did sell it. Yeah. In the somerset earlier this year for 305,000, which is probably now at about 350 for the way things are going. But this year is a manufactured home.
Now in hot Springs, you will find some cheaper places. And maybe more of that. The problem is is that not everybody wants to live in hot Springs is an hour away from rapid city. ]not a lot going on in hot Springs at the moment. Nice little town. It's very cute. It's very. historic but there's just not enough going on to satisfy the needs of a lot of people.
You still have your grocery store, but it's definitely a smaller, slower town to live in. I had clients that were coming up from Las Vegas and looked at hot Springs and we're thinking about hot Springs because they want it to really slow down, but then decided that hot Springs was too slow when they couldn't find a cup of coffee at 2:00 PM.
So yes, home prices are going to be cheaper, hot Springs. You might get more for your money in hot Springs. Just make sure that you are interested in living in that area. Yeah, I think that's interesting to check out is lead. Cause you'll also find considerable a few more cheaper properties in lead South Dakota, but consider the fact that lead is built on the Hills.
So a lot of the properties there are built on the Hills. Sometimes you have to make sure you watch out for his foundation properties, foundation problems. Excuse me. And lead gets lead-deadwood gets 195 inches of snow a year. Hill city. There are some interesting options in hill city. However, very, very hard to find a property to buy in hill, city and Keystone, lots of commercial activity around there.
A lot of course tourist tourist area. So it gets hard to buy anything in that area. However, you can find new construction here, but these properties are small 1000 square feet for 220,000 brand new same thing here. This is probably about 700 square feet property for 205,000 property here on for 240.
And a two bedroom, one bath 816 square feet. So I'm assuming you're just going to buy a new construction here as well. As I kind of mentioned, as we were showcasing the properties on my website, home prices are up in our area 15% over last year, which is crazy unusual for our area, but that's the way things have been.
In 2021. Now many people are asking, well, you know, the market's going to crash, right? Prices are going to come down. Well, that's something that not really expecting to happen. Area considered the 2008, 2010 market crash. When the rest of the country was down 60%, we went down six. 6%, that's it. We always seem to somehow be isolated from what's happening in the rest of the country.
Be it, our remoteness, whatever it is that that happens. We usually have a pretty strong economy in the rapid city area. So I can't see how the prices are going to come down. Anytime soon. We've got lots of businesses coming into area. We've got a new mission coming from the Ellsworth air force base.
I'm talking with a lot of you that are thinking about coming into. So I'm not anticipating that things are going to slow down anytime soon, or that prices are going to come down because really the only way that prices would come down is if we get to a position where instead of being more buyers than sellers, we have more sellers than buyers, right?
We've gotta switch that market. And I can't see that happening in the near future. Homes are still selling for over asking price was multiple offers in 2021. I am seeing some price reductions. I'm seeing some things kind of slow down a little bit, but I kind of anticipate that to jump back a line. Once everybody gets back to work in January of 2022, who knows though, I could be wrong as always.
If you have any questions about the home prices in rapid city or about what it takes to get into a property in this, in this market, don't hesitate to give me a call, send me an email, make a comment below. I'll be sure to answer that as long as it's not offensive comment. Thanks so much for watching everybody have a wonderful day.
and Remember love where you live. Every little piece, every little piece. We could make a million by slicing him, dicing him for hokey. We could sell every little shell there's enough of him to go around money, money, money by the pound.