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Published September 04, 2012, 07:18 AM

Housing market improving in Sioux Falls

SIOUX FALLS (AP) — Real estate agents in South Dakota’s largest city say the housing market is improving, with homes selling faster and for better prices.

SIOUX FALLS (AP) — Real estate agents in South Dakota’s largest city say the housing market is improving, with homes selling faster and for better prices.

The number of pending home sales in July was up 23 percent in Sioux Falls compared with the same period last year. Pending sales are up 17 percent year to date. Closed sales rose 25 percent in July, and the median home sale price is 5.8 percent from a year ago to $156,000.

Real estate broker Ken Dunlap says the numbers provide good news and he hopes it’s sustainable. Realtor Association of the Sioux Empire president Matt Larson says indicators are pointing more sharply to recovery. He says the average number of days a home is on the market is down to 76.

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