If you’re in the market to buy a house, Meredith Lee with Lee Real Estate has some advice: Get your paperwork in order and be prepared to act quickly.
And it wouldn’t hurt to offer full price if it’s something you really like.
Beyond that, there’s not much a buyer can control in one of the hottest seller’s markets in years.
Lee said there’s about a month of inventory in Pierre, which is the amount of properties agents would typically sell in that period. The industry target is about six or seven months, which means there isn’t much out there these days. Lee said her company currently has 29 properties listed, and that includes everything from commercial buildings to single-family homes to land.
What’s driving the dearth of properties? Lots of things, agents say: Low interest rates, first-time buyers moving up from the rental market, and…