House Hunting Just Got Easier – Here’s Why

If you’ve been frustrated by the lack of homes for sale over the past few years, here’s some good news. You have more options, so it may finally be time to kick off your home search again. As Daryl Fairweather, Chief Economist at Redfin, explains:

The number of homes for sale has grown compared to last year, and even more options are on the way. While this is typical for the busy spring season, here’s why this is so important right now.

Homeowners are listing their houses at the highest pace we’ve seen in a while.

New Listings Are on the Rise

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Paused Your Moving Plans? Here’s Why It Might Be Time To Hit Play Again

Last year, 70% of buyers abandoned their home search – and maybe you were one of them. It makes sense. Inventory was low, prices were high, and mortgage rates were up and down like a rollercoaster. All of that made it really hard to find a home you loved – and could afford.

But guess what? The market is shifting.

So, if you paused your moving plans in 2024, it might be time to hit play again. Here’s why.

More Inventory Opens Up More Options

Even if you could make the numbers work, the lack of available homes in recent years probably made it hard to come by something that fit your needs. But inventory is rising, which means you have more options now.

According to Realtor.com, inventory has jumped 27.5% since this time last year (see…

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Buyers Have More Negotiation Power – Here’s How To Use It

You may have heard there are more homes for sale right now. And while that’ll vary depending on the market, it means that overall, things are starting to lean in a more balanced direction. As that happens, some sellers are a bit more open to compromise. Here’s what that means for you.

You may be regaining some negotiating power. That can translate into savings, perks, or even better terms on your purchase – if you know what levers to pull during negotiation.

Why an Agent Is an Essential Part of the Negotiation Process

The complicated part is knowing what is and isn’t on the table. That’s where your agent comes in. According to the National Association of Realtors (NAR), besides finding the right home, the top thing buyers want from their…

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Is the Housing Market Starting To Balance Out?

For years, sellers have had the upper hand in the housing market. With so few homes for sale and so many people who wanted to purchase them, buyers faced tough competition just to get an offer accepted. But now, inventory is rising, and things are starting to shift in many areas.

So, is the market finally balancing out? And does that mean buyers will have it a bit easier now? Here’s what you need to know.

What Makes It a Buyer’s Market or a Seller’s Market?

It all comes down to how many homes are for sale in an area compared to how many buyers want to buy there. That’s what ultimately determines who has the most leverage.

• A Seller’s Market is when there are more buyers than homes available, so sellers hold the power. This leads to…

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The Future of Real Estate: What's Ahead for South Dakota Homeowners?

If there’s one thing we know about real estate, it’s that the market never stays the same for long. Whether you're buying, selling, or just keeping an eye on home values, knowing what’s coming can help you make smart decisions. At the Brookings Home Team, we keep a close watch on trends so we can help our clients navigate the market with confidence. So, what’s in store for 2025 and beyond? Let’s break it down.

Home Prices: Will They Keep Climbing?

Over the last few years, we’ve seen steady appreciation in home values, and that trend isn’t slowing down just yet. Experts predict modest but continued growth in home prices, particularly in desirable areas like Brookings. Low housing inventory is still a challenge, meaning well-priced homes will…

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The Secret To Selling? Using an Agent To Get Your House Noticed

In a recent survey, the National Association of Realtors (NAR) asked sellers what they want most from a real estate agent. The number one answer was to help market their house.

It makes sense. The way your agent markets your house can be the difference between whether or not it stands out and gets attention from buyers. That’s why it’s so important to work with an expert local agent that knows what they're doing.

According to that same report from NAR, here are some of the most common methods real estate agents use to market homes, and how you benefit when your agent uses them effectively (see graph below):

• Listing on the MLS – Real estate agents have access to the Multiple Listing Service (MLS) database. And that’s great for you…

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The Biggest Perks of Buying a Home This Winter

Waiting for perfect market conditions often means missing out. Because what you may not realize is, if you’re ready and able to buy, this time of year could actually give you an edge. Here’s why. As the weather cools down, the housing market can too – and that works in your favor.

You Likely Won’t Feel as Rushed

Homes tend to take a little longer to sell during this time of year. Data from the National Association of Realtors (NAR) shows the average time a house sits on the market jumps up during the winter months (see the green bars in the graph below):

This is partly because fewer buyers are active at this time of year – and that decrease in buyer competition means the houses that are on the market aren’t going to be snatched up as…

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Should You Sell Your House As-Is or Make Repairs?

A recent study from the National Association of Realtors (NAR) shows most sellers (61%) completed at least minor repairs when selling their house. But sometimes life gets in the way and that’s just not possible. Maybe that’s why, 39% of sellers chose to sell as-is instead (see chart below):

If you’re feeling stressed because you don’t have the time, budget, or resources to tackle any repairs or updates, you may be tempted to sell your house as-is, too. But before you decide to go this route, here’s what you need to know.

What Does Selling As-Is Really Mean?

Selling as-is means you won’t make any repairs before the sale, and you won’t negotiate fixes after a buyer’s inspection. And this sends a signal to potential buyers that what they…

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Prepping to Sell Your Brookings Home in 2025? Start Now for the Best Results

If you’re planning to sell your home in 2025, now is the perfect time to start preparing. While it might feel like you’ve got plenty of time, a little advance planning can make a huge difference in your sale’s success. As Danielle Hale, Chief Economist at Realtor.com, puts it:

“…now is the time to start thinking about what you need for your next home and then taking those steps to prepare to list…47 percent of sellers are taking longer than a month to get their home ready to sell, so starting early can mean more flexibility.”

Prepping early will allow you to take care of updates and repairs at a steady pace, so when you’re ready to list, your home is truly market-ready. Partnering with a skilled real estate agent from the start can help…

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2025 Housing Market Outlook for Brookings, SD: What to Expect

Are you curious about where the housing market is headed in 2025? The outlook is shaping up to be optimistic, with experts forecasting changes in two key areas that could affect your decision-making: mortgage rates and home prices.

Whether you’re planning to buy or sell, here’s what industry experts are saying about these upcoming trends and how they could impact your goals.

Mortgage Rates Forecasted to Decline Gradually

Mortgage rates have been a major influence on housing market activity over the past few years. If you’ve felt uncertain about rates, here’s some good news: experts are predicting a gradual decrease throughout 2025. The path to lower rates won’t necessarily be smooth, as economic data and inflation numbers will play a role…

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