New Report Says Sioux Falls’ Popularity Saw Biggest Jump in U.S.
A new report says Sioux Falls is the hottest place to be in the country right now.
Realtor.com says South Dakota's largest city had the biggest jump in popularity out of all of the 300 markets on its September 2024 Hottest Housing Markets report, which looks at housing demand based on two factors: the number of unique views on Realtor.com, and the number of days a listing remains active before getting snapped up by buyers.
According to the numbers, Sioux Falls vaulted an incredible 131 spots since last year's list, moving from near the bottom of the rankings for the 300 largest metros in the country to the middle.
Bloomington, Illinois (+112) was the only other city to see a jump of more than 100 spots from 2023.
As for the data, homes in Sioux Falls spend an average of 39 days on the market, which is two weeks faster than the average across the country. Also, the pace of home sales in this city is moving 11% faster than last year.
Home prices have a lot to do with both of those numbers.
The median home price in the city ($358,000) is $67,000 less than the latest U.S. median list price of $425,000.
The report also highlights Sioux Falls' strong job market, emphasis on developing community spaces, improving infrastructure, and increasing outdoor recreation opportunities as major factors driving people to relocate to the city.
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