Driving the streets of Mitchell, S.D., and seeing for-sale signs throughout the city, Jesse Stroud is confident he'll find his next home soon.
But first, he has to sell his home.
Stroud is one of many buyers in Mitchell looking for a home, and he's noticed the speed in which houses are selling -- a trend he hopes will be true for his home, too.
After a little more than two weeks on the market, Stroud's home is one of about 60 in Mitchell up for grabs, but according to Micah Volmer, the president of the Mitchell Board of Realtors, there are a lot more buyers than houses for sale.
And a majority of these buyers are first-timers.
"We really see millennials are hungry for housing," Volmer said. "Mitchell's keeping up with national trends. That's what we're seeing nationally."
Volmer said it's a seller's market in Mitchell, with a high demand for housing. And with low interest rates on mortgages, home values are on the rise. And Volmer said she doesn't expect it to change soon.
That's making it a great time for Mitchell homeowners to sell, she said.
Volmer estimated the average home sold in Mitchell is between $155,000 and $185,000, and it is on the market for approximately 60 to 90 days. Currently there are 61 houses in Mitchell listed for sale, with 20 pending with offers, as of Tuesday, Volmer said.
"I would say that's pretty strong for our community," she said.
And with an "incredibly hot" housing market, Volmer suggests buyers be ready at a moment's notice, which includes knowing they are pre-qualified for loans. Before house hunting, she suggests talking to a banker.
And if the buyer knows the amount they are pre-qualified for, Volmer said they don't have to wait when that "perfect house" comes along.
"Houses are selling within hours sometimes of being on the market in Mitchell lately, and it's always good to be ready," Volmer said.
Other than being pre-qualified, Volmer suggests all homebuyers find a realtor they can trust. She said, it's the realtor's job to "keep an eye out" for houses as soon as they are placed on the market. Once that happens, the realtor -- who can also help ease a buyer's frustrations, Volmer said — will let their client know of the listing.
Visiting the Mitchell Board of Realtors website — mitchellsdmls.com — is also another tip Volmer provides.
And Stroud agrees. Other than driving around looking at houses, he has done online research, looking at the age and price of homes. And while he's noticed the fast pace that houses are selling, Stroud also noticed there's quite a few houses listed for sale.
"Every block, it seems there's something sitting somewhere that's for sale currently," Stroud said. "...And the market does seem to change week to week."
After buying his home four years ago, Stroud said there isn't much of a change from the first time he bought a home to now, other than being more aware of the process. And no longer being a first-time buyer, he has a few tips for others in the area.
"My biggest tip for anybody is to certainly get that pre-approval but find out what programs are available and not be afraid to ask questions, especially with that first-time home buyer," Stroud said.
