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