Sioux Falls real estate industry adjusts to ‘new normal’ as continued sellers market keeps driving up prices

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SIOUX FALLS, S.D. (KELO) — For months now, the real estate market all over KELOLAND has been slammed with more people looking to buy a house than those hoping to sell. Now real estate agents say they’re learning to adapt to what’s become the new normal in this sellers market.

Robert and Victoria Cross have been searching for their first home in Sioux Falls for nearly six months. They say its been very challenging.

“As soon as we put an offer in, a lot of times we’re outbid,” Victoria said.

It’s something they’ve dealt with 12 times in the past few months, even though their offers have all been well above asking price.

“Oh yeah, by at least $10,000,” Victoria said.

“We don’t know what the houses are going to go for, even when they give us a list price,” Hegg Realtor Justin Garry said. “In this market, there’s just so much…

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