YANKTON, S.D. (WNAX) — South Dakota’s real estate market is about as hot as the weather.
Yankton Realtor Mason Schramm says the number of available listings has gotten tighter in the past couple of months. He said houses are selling quickly, typically in three or four days.
Schramm says sellers are getting top dollar for their property, including higher-than-normal appreciation on home values. Meanwhile, buyers face tough competition for homes.
“Overall the market is stably in the seller’s favor,” Schramm said.
Schramm says buyers have to be prepared when they get ready to jump into the market. He recommends talking to a real estate agent and getting pre-qualified for a home loan.
Schramm says new home construction will be helped by a developing dip in the cost of lumber and supplies.
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