Found 77 blog entries tagged as market.

 




There are more homes on the market right now than there have been in years – and that could be a game changer for you if you’re ready to buy. Let’s look at two reasons why.

You Have More Options To Choose From

An article from Realtor.com helps explain just how much the number of homes for sale has gone up this year:

“There were 29.2% more homes actively for sale on a typical day in October compared with the same time in 2023, marking the twelfth consecutive month of annual inventory growth and the highest count since December 2019.”

And while the number of homes on the market still isn’t quite back to where it was in the years leading up to the pandemic, this is definitely an improvement (see graph below):

With more homes available…

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No one wants to stumble during one of the biggest investments of their life—buying a home. Yet, in today’s market, some common mistakes trip up even the most prepared buyers. The good news? With the right guidance, you can sidestep these pitfalls and make your home-buying journey smooth and rewarding.

Here’s a closer look at the missteps many buyers are making right now and how a trusted real estate professional, like Shane Andersen of the Brookings Home Team, can help you avoid them.

1. Trying to Time the Market

Many homebuyers play the waiting game, holding off for lower home prices or mortgage rates. While this might seem like a smart strategy, it’s risky and often backfires. Predicting market trends is notoriously challenging because…

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If you’re gearing up to sell your house, one of the biggest questions on your mind is probably, “How long is this going to take?” It’s a natural question—you want to plan your move and ensure everything lines up smoothly.

While every market is unique, taking a look at the national trends can offer some insight into what you might expect. But to really understand your local Brookings market and how it compares to national conditions, your best bet is to connect with a local real estate expert.

Here’s a breakdown of what to expect as you get ready to sell, and how a great agent can help you make the most of the market.

More Homes on the Market Mean Buyers Have More Choices

According to recent data from Realtor.com, the number of homes for…

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Has your home been sitting on the market longer than you expected? If so, it's only natural to feel frustrated. You might even be considering pulling the listing and waiting to see what 2025 brings. But before you make any decisions, it’s important to know that taking your home off the market now could actually cost you in the long run.

In Brookings, South Dakota, and the surrounding areas, the real estate market tends to fluctuate with the seasons, but right now might be the perfect time to stay the course. Let’s dive into why keeping your home on the market through this season could be the smarter move—and how Shane Andersen and the Brookings Home Team can help you make the most of it.

Other Sellers Are Pulling Back – Should You Follow?

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Lately, you’ve probably seen headlines talking about the median asking price of homes dropping compared to last year. This kind of news can cause confusion for buyers and sellers alike, making it seem like home values are falling. But here’s the deal: those headlines don’t tell the full story, especially in a market like Brookings, South Dakota, and the surrounding areas.

While it’s true that the median price has dipped, it’s important to understand what that really means before you jump to conclusions. Let’s break down the details so you can navigate the housing market with confidence, whether you're looking to buy or sell.

Why the Median Price is Lower—But Home Values Are Still Rising

The key to understanding this trend lies in the types…

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Watching your home sit on the market with no offers coming in can be frustrating—especially when you’re ready to move on to your next chapter. You’re not alone in this. Many sellers in Brookings, South Dakota and surrounding areas are experiencing this challenge today.

According to data from the National Association of Realtors (NAR), the average time a house stays on the market has been increasing. This is a trend that’s becoming more common nationwide. As Realtor.com recently noted:

"During the week ending Sept. 14, homes stayed on the market eight days longer compared to last year. With more choices available and mortgage rates expected to fall, buyers are taking their time, which means sellers will need to be patient and flexible.”


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If you’ve been sitting on the sidelines, watching mortgage rates soar and waiting for the right time to jump into the housing market, you’re not alone. For months, potential homebuyers have been holding off due to high rates and affordability concerns. But today’s market conditions might just be the sweet spot you’ve been waiting for—and it might not last long.

Why Are Buyers Moving Now?

Mortgage rates are finally starting to trend down, which means affordability is improving for many prospective buyers in Brookings, South Dakota, and surrounding areas. This creates a window of opportunity that could help you get into the home you’ve been dreaming of. If you’ve had your plans on pause, now’s the time to ask yourself an important question: What…

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Every home seller dreams of getting their house sold fast, for top dollar, and with as little hassle as possible. If you’re preparing to sell in Brookings, South Dakota, chances are you’re no different. But did you know that one of the biggest factors that could derail your plans is the price you set for your home? Getting the price right is crucial—overpricing can cost you time, money, and potential buyers.

So, how do you know if your asking price is scaring buyers away? Here are four clear signs your house might be overpriced, and why working closely with a real estate expert like Shane Andersen from the Brookings Home Team can help you turn things around.

1. Lack of Showings or Offers

One of the most glaring signs that your home may be…

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As September rolls in, the spotlight is back on the Federal Reserve (the Fed) and their much-anticipated decisions on the Federal Funds Rate. There's a growing expectation that the Fed will reduce the rate at their upcoming meeting, largely driven by signs of easing inflation and a cooling job market. This shift could have a significant impact on the housing market, and even more importantly, it could affect you as a current homeowner or potential homebuyer here in Brookings, South Dakota.

Mark Zandi, Chief Economist at Moody’s Analytics, summed it up perfectly when he said:

“They’re ready to cut, just as long as we don’t get an inflation surprise between now and September, which we won’t.”

But what does this mean for the local real estate…

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If you’ve been keeping an eye on the housing market over the past couple of years, you know sellers have had the upper hand. But is that going to shift now that inventory is growing? Here’s a breakdown of what you need to know.

What Is a Balanced Market?

A balanced market is generally defined as a market with about a five-to-seven-month supply of homes available for sale. In this type of market, neither buyers nor sellers have a clear advantage. Prices tend to stabilize, and there’s a healthier number of homes to choose from. And after many years when sellers had all the leverage, a more balanced market would be a welcome sight for people looking to move. The question is – is that really where the market is headed?

After starting the…

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