Jodi Schwan from SiouxFalls.Business recently discussed the growth in the real estate industry and development in Tea, South Dakota. With the Sioux Falls housing market expanding, there are both opportunities and challenges for individuals looking to enter the real estate field. Currently, there are 1,000 licensed realtors in Sioux Falls, with just over 3,000 homes sold in the metro area last year. This means that many realtors are selling a small number of homes annually, especially as the market becomes more competitive with limited inventory.
For those looking to pursue a career in real estate, it is important to be prepared to put in the work. Starting out may require many calls, long hours, and dedication to building a client base. It is also advised for buyers and sellers to consider how active an agent is in the market when selecting who to work with. Agents who are regularly completing transactions are likely more informed on pricing, negotiating, and other aspects of the industry.
In Tea, the city is considering adding a large multi-sport complex to accommodate the community’s growth. This is part of several proposed improvements for the fast-growing Lincoln County town. Public input is being sought on updates to the 2050 comprehensive plan, with major road projects and investments also under consideration. The multi-sport complex would not only benefit the local community but also attract visitors and special events.
While the plans are still in the early stages, the city is studying factors like size, cost, and financing options for the complex. The 2050 plan will focus on future zoning and community enhancements, particularly to the west and south of Tea’s current city limits. With the upcoming 85th Street interchange, Tea’s boundaries will soon connect with Sioux Falls. Stay updated on local business news by visiting siouxfalls.business/.