“The bottom-line goal of a house-buying company is to be able to turn around and resell your house for a profit,” says Jenny Downey, a top-performing real estate agent in South Dakota. “That might be a quick solution for you if you’re just not able to get your house in a condition to sell. But you’re also going to see a much lower price compared to if you listed it on the market.”
Downey estimates that you might sell your home for 26% more if you use a proven South Dakota real estate agent. “Part of that higher number is because, as agents, we’re familiar with up-to-date pricing trends and we can really hone in on the value of your home. We’re really digging in, looking at the condition and seeing what else was sold in your neighborhood.”
Option 2: Hire a top South Dakota real estate agent
When time is of the essence, enlisting the expertise of a top real estate agent in South Dakota can prove invaluable. An experienced agent understands the intricacies of the local housing market and possesses the skills to facilitate a swift and profitable sale of your home.
Let’s look into the speed at which agents sell homes in South Dakota, explore the advantages of working with a trusted real estate professional, and discover how you can find the perfect agent for your specific needs in the Mount Rushmore State.
How fast are homes selling in South Dakota?
In South Dakota, the median days on market (DOM) — the time from listing to having a signed contract — currently ranges from 32-48 days.
Downey says the entire time from listing to closing is averaging around 71 days. “That’s for the whole spectrum of prices. And that is very low because looking back historically — even just back to 2018 — it was averaging 94 days. Looking back even further to 2008, homes were sitting for six to nine to 12 months.”
It’s important to note that Downey’s 71-day estimate for full closing includes the 44 days a mortgage-backed buyer typically needs to close on a purchase loan.
Downey adds, “Right now, if a house sits for three weeks on the market, sellers are sometimes panicking and thinking that’s a long time. But that’s not really a long time. In South Dakota, there’s a high demand and very low inventory.”
It’s also worth noting that how long your home takes to sell can depend greatly on the price and condition of the property and the buyer activity in your local market. In her Sioux Falls region, some homes sell much faster than the state median DOM. “We’re often seeing houses sell within the first day,” she says.
Partnering with a knowledgeable agent can provide valuable insights into local trends and buyer behaviors.
Benefits of selling with a top South Dakota agent
Selling your South Dakota home with the assistance of a top agent offers numerous benefits that can lead to a faster home sale. Consider the following: