« It's Your Business with Bill Zortman

Real Estate Report Card---Building Permits--Canterbury, Bachman, Affordability Index

by Bill Zortman

Figures for the first six months of 2014 are good. Not as good as 2013 -- but many believe they are second best in recent years.

Brandon Martens--President of the Realtors Association and Cindy Monnin President of the Home Builders Associations...interpret the first half of the year and project quarters 3 and 4.

When you look at the figures you see some interesting facts. Look for yourself..

2012 20132014

Permits Issued3777 3654 3934

Total Construction Value $204.6M $349.5M $281.9M

News Residential$75.6M$137.3M$132.0M

Residential Remodeling $21.4M $20.8M $37.9M

Non-res Remodeling $60.8M$87.8M $81.2M

New Residential

Single Family 293 412 319

Duplex Units 0 0 2

Townhome Units 89 179 120

Multi-Family 240561613

On the real estate side

Sales off 6% from 2013 in the first six months of the year. Change in median sales price is up almost 2% and change in inventory is now off only 3.4%

By cities...

Sioux Falls sales off 6.3%, new listings off 2.4%, Median Sales up to $162,000

By area communities on plus side...

Tea 26 sold in 2013 51 Jan-June--up 96.2%

Lennox 11 soldin 2013 19 Jan-June--up 72.7%

Hartford 19 soldin 2013 24 Jan-June--up 26.3%

Dell Rapids32 sold in 201337 Jan-June--up 15.6%

---Going the other way in 2013 vs 2014

Harrisburg 91 sold in 2013 81 this year down 11.0%

Madison 42 sold in 201332 this year down 23.8%

Brandon 89 sold in201362 this year down 30.3%

Canton 33 soldin 2013 17 this year down 48.5%

Jim Lowe--Advana Mortgage will talk about the Housing Affordability Index, Tony Bachman, will talk about the sale of townhomes with Canterbury Village and his growing Tony Bachman team at Keller Williams, Mike Austad--Dakota Radon Mitigation - how to keep your home safe.

The show will be podcast within a day of the airing.