August 2008 Real Estate Market Conditions for Rapid City in the Black Hills of South Dakota

By
Real Estate Agent with Coldwell Banker - Lewis-Kirkeby-Hall

During the month of July, 2008 there were 76 new residential listings in and around the Rapid City area as compared to 102 last month. The total # of homes for sale is 387 as compared to 406 last month, which reflects single family homes only. And 124 homes have sold or are under contract as compared to 50 homes last month. Avg. price of a home in the Black Hills is $187,325 as compared to $185,359 last month with an average of 80 days on the market as compared to 77 last month. Sellers have been receiving 97.37% of their asking price as compared to 97.36% last month.

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