To get a good view of a yearly price average or to compare your home to others to a market price of your home you can go to a local real estate agent that works with the Multiple Listing Service, otherwise know as the MLS. Good agents are able to use this tool to help develop a yearly average or longer. They can pull home sales in a certain area over a long period of time and show you the trend. This might be time consuming. If you are looking for an average price on a similar home to yours this could be done relatively quickly. I hope you find this helpful.

Hi David:

In my previous post regarding the market conditions around the Rapid City area, the comparison was from the year of 2008 stats as compared to the year of 2007 stats. It had no bearing on the market in 2009.

The stats for the first month in January do show numbers being down some. I'm not too worried about this, though - we've had lots of activity lately. I can't prove this in numbers at this point, but we have seen an increase in showings in our office over the past month. A couple agents had open houses (one in the $160,000 range and the other close to $300,000 range) that had twenty-some visitors. One agent is working with a number of buyers and will have 5 closings in February. I have 2 closings scheduled for the end of the month as well. So I am encouraged by the activity out there and expect to see good market conditions carry on.

I hope this answers your question. If not, please ask again or shoot me an email and I'll answer to the best of my ability.

Have a great day!

Tristan Emond
Prudential Kahler REALTORS
2401 W Main
Rapid City, SD 57702
tristan@rapidhomesonline.com