KW Newsletter June 2024
Greetings from the Rapid City Commercial Team! We are happy to report that we have seen a strong start to the 2024 commercial real estate market. Five out of the seven product categories show year over year growth, which is very encouraging. One change you will notice on our market stats report is that we have started tracking hospitality properties separately that were previously included in the “Other” category. Given the impact that hospitality has on the economy in Western SD, we felt it needed to be monitored in more detail. We hope that this new information will provide more clarity and be especially helpful to those of you in the tourism business and who are operators of campgrounds, RV parks, cabins, and hotels/motels.