Navigating the Competitive Real Estate Market in Sioux Falls: Insights for Buyers, Sellers, and Realtors

Tea is experiencing rapid growth and expansion, with major developments such as a new multi-sport complex and road projects underway. This presents both opportunities and challenges for those looking to enter the real estate industry in the Sioux Falls area. As the market becomes increasingly competitive with limited supply and inventory, realtors need to be prepared to work hard and build their business through making many calls and working long hours.

Meanwhile, buyers and sellers should carefully consider an agent’s activity in the market when selecting a realtor to hire. Agents who are not regularly doing deals may not have the same level of knowledge about pricing, negotiating, and other aspects of the industry. In Sioux Falls, there are currently 1,000 licensed realtors, but last year over 3,000 homes were sold in the metro area. This means that many realtors are selling very few homes each year.

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