| The real estate market doesn't seem to be | | | | still-under-construction Crazy Horse Memorial |
| crashing quite as hard as industry experts | | | | dedicated to Native American heroes. South |
| and the media were predicting in 2006 - home | | | | Dakota is also a treasure trove of outdoor |
| value prices haven't plummeted and the bubble | | | | adventures, with the Badlands National Park |
| hasn't burst so much as deflated. There are | | | | (famous for it's moon-like landscape), the |
| still doom and gloom predictions for the | | | | Black Hills National Forest and Caves as well |
| state of the market, but overall, the sky | | | | as many archaeological and paleontological |
| hasn't fallen on real estate. When looked at | | | | sites and discoveries (world famous T-Rex |
| on a national scale, the market has | | | | "Sue" was discovered in South Dakota). Even |
| definitely come off it's boom of the past few | | | | the Old West and pioneer spirit is kept alive |
| years, but knowing the median national home | | | | in Deadwood, national historic landmark |
| value of 2006 (it's about $221,900) and rate | | | | styled authentically after the Old West. You |
| of home sales nationwide won't help you when | | | | can spend days visiting cultural and |
| you're thinking of buying or selling. Real | | | | historical landmarks, go shopping, dining and |
| estate is an investment and obviously you | | | | enjoy the nightlife or be adventurous with |
| want to invest somewhere that your investment | | | | hiking, climbing, camping, fishing, boating, |
| is likely to grow. In order to somewhat | | | | sailing and more in South Dakota - what ever |
| predict how a certain area will do in real | | | | you like, South Dakota seems to have |
| estate over a span of years, it's important | | | | something for everyone, a draw that pulls in |
| to look not just into past home value and | | | | many new residents! |
| sale trends, but the economy, employment and | | | | |
| attractions of the area itself. | | | | One more major factor that has kept South |
| | | | Dakota's real estate market strong is its low |
| South Dakota (capital city: Pierre), is one | | | | cost of living coupled with relatively high |
| area of the nation that has stayed relatively | | | | incomes compared to median home value prices. |
| strong in real estate, which is little wonder | | | | In 2006, the median home value sales price |
| with all the jobs, space and low cost of | | | | in South Dakota was about $152,000, which was |
| living available in a big state with a | | | | nearly $80,000 below national median home |
| population of only 781,919 in 2006. South | | | | value. In 2006, South Dakota's median |
| Dakota has strong agricultural economy of | | | | household income had risen above $43,000, not |
| cattle, hogs, wheat, soybeans, milk and corn | | | | too far below the national median income. |
| and industry production focused on food | | | | This high income combined with low housing |
| processing, machinery, lumber and wood | | | | costs allowed South Dakota families to afford |
| products and tourism. Unlike many states, | | | | more expensive homes. |
| South Dakota's factories have added jobs in | | | | |
| each of the past three years, and service | | | | As of now, the market in most of South Dakota |
| sectors have also grown, keeping its | | | | is steady, with average home value sales |
| unemployment rate at a relatively low 3.4% | | | | prices in the Black Hills region steady at |
| over the past few months. | | | | about $183,871 and spending an average of 71 |
| | | | days on the market. With a strong job |
| This strong employment base along with South | | | | market, diverse culture and landscape that |
| Dakota's various tourist draws has helped | | | | attracts thousands of visitors a year and low |
| keep their real estate market steady and home | | | | cost of living, South Dakota's market is |
| value prices creeping up. South Dakota, is | | | | likely to stay strong, with homes selling |
| of course, home of perhaps the most famous | | | | within about 90 days or so of being put on |
| and patriotic sculpture in the world: Mt. | | | | the market and home value averages creeping |
| Rushmore as well as the | | | | steadily higher. |