KW Newsletter December 2022
Though we don’t have all the numbers in yet for 2022, it looks like we’re on track to exceed 2021 in commercial real estate sales volume (up 1%) both for our team and for the Pennington County market as whole.
Though we don’t have all the numbers in yet for 2022, it looks like we’re on track to exceed 2021 in commercial real estate sales volume (up 1%) both for our team and for the Pennington County market as whole.
As the summer season is coming to close, we’ve had numerous conversations with investors, business owners and regional brokers and the feedback is consistent, fundamentals are trending down from the highs of 2021, but still ahead of pre-pandemic numbers. It’s safe to say that Rapid City’s market is stabilizing but the growth trends are still evident across the board.
We might sound like a broken record, but Rapid City’s real estate market just continues to break records – record sales, shortest days on market, building permits issued and lowest inventory in recent history. Rapid City is booming.