Tristan Emond

Hello!

If you run a search for other homes that are for sale in the area - there's one listed on 426 East Jackson - and look below the map on the listing details page, there is a button to "view all comparables." That will run you a list of the comps in the area with breakdowns on bedrooms, bathrooms, price per square foot, etc.

I contacted the rental firm associated with our office to see if I could get an idea of what a home in that area would rent for. Sounds like a nice, 3 bedroom home with single car garage was renting in the $800.00 range. However, if it is more run down, that price drops down to around $600.00 per month or so. They rented a 3 bedroom, 1 bath home on East Jackson for over $800.00, but they are still advertising one for rent on Van Buren (2 bed, 1 3/4 bath) for $625.00. How much you might be able to get also depends on the time of year, when people are looking, etc.

I hope this helps. If I can help you with your purchase or get you a listing of other comps in the area that may not be listed on Trulia, please feel free to contact me!

Tristan Emond
Broker Associate
Prudential Kahler REALTORS
605-391-7086
tristan@rapidhomesonline.com

2401 W Main
Rapid City, SD 57701 - Thu Sep 4 2008, 08:49

Hi Helen:

Thank you for your question. I am a real estate agent in Rapid City. I can't speak with facts about Sioux Falls, but I can address things in Rapid City.

We have been enjoying a steady, stable market here in Rapid City and the Black Hills. Home prices have continued to rise for the past 3 years. I ran a report on residential homes sold for the past 3 years, and we have been averaging around 3% growth per year. This has continued even though the number of sales has been down and days on market has extended by 10 days in the past year. In the past 30 days, there have been 547 total new listings and 213 listings sold (commercial and residential - MLS wide) . So things are definitely moving right along. New homes and residential developments are being built all over the place.

New retail developments are also under way. Cabela's is working on getting a new building up, and a new retail center with big names like Bed, Bath, and Beyond and a bigger Scheels Sporting Goods is also in process.

Ellsworth Air Force Base, located just to the east of Rapid City, has recently acquired a finace center contract, which will bring in some 700 jobs when the phases are complete.

With the above happenings, and the Black Hills attracting second home buyers and retirement buyers, I believe we should continue to see a stable market for some time.

If you would like more detailed stats, I can get those to you. In the meantime...good luck!

Tristan - Wed Mar 19 2008, 15:16