It's kinda hot.
I know you're thinking "You are a REALTOR, you always say stuff like that." It's a true story, though!
Check out this video to find out what's happening, and what it means for you as a buyer OR a seller:
Hi everybody. It's Tristan Emond, Mindful Living Realty.
Welcome to your June Rapid City real estate market report!
The Rapid City real estate market has been hot! Things have been selling in a matter of days, sometimes even hours, depending on the location, depending on the price, depending on the quality and condition of the property.
I had a time scheduled to meet with my buyers to look at four properties. By the time I arranged those four properties, three of them were under contract. We only looked at one that evening.
Typically, in Rapid City, we will have a strong spring market. March through May gets to be very, very busy and then it usually slows down again during the summer months when people are vacationing and enjoying the Summer.
It seems to be when we have things that slow down the spring market such as last year's lots of rain and flooding situations and this year's COVID situation, the summer then becomes just as hot, if not more so, than the spring before. All that pent-up buyer demand just funnels into the summer.
We consistently have low inventory, high buyer demand, which of course raises prices and increases those multiple offer situations.
Yes, that means this is a seller's market.
If you are a seller, you have the upper hand. Or if you're thinking about selling your property you are in a good position to get your home sold quickly.
But buyers aren’t stupid. They're not gonna buy your property if it isn't ready for sale, if it isn't up-to-date, if it isn't taken care of. Don't expect to get high market value for your property if you haven't done those basic maintenance items on your property.
Buyers: you need to have patience, you have persistence, and need to have the tenacity to jump into the game and to make offers on that property that you like. So, this is why we recommend that you really hone in on knowing what you want on a property and you listen to your gut when you walk in that front door.
As always, we at the Emond Team have the experience and know-how to help you buy that property - get into the one that you want or get your property sold for as much money as possible.
Thank you for watching!
Have an amazing day...
and remember... Love Where You Live.