Housing, transportation and internet comprise
The Spearfish real estate market is much better off than the rest of the United States. Home prices are holding, and home sales have held steady to 2009 levels with an average home purchase price of $172,876.
While the market is slow in the upper price ranges, the recreational market, at times, is actually very active. Lot sales are going well, possibly because of the inventory of lower-priced lots, but land values appear to be declining, most notably in the auction market. There has been an increase in commercial buyers and prospective buyers, which is an excellent indicator for the area.
Real estate market is doing relatively well
The real estate market, in general, is doing well in Spearfish, considering the national economy. Higher-end homes sales have been based on out-of-state buyers, so Spearfish does better when the market picks up in other areas. Spearfish, fortunately, did not experience the 300 percent price increase in area real estate, so as a result, the area has not seen the decline in prices like other regions of the country.
Now is a good time to purchase real estate with interest rates at record lows. Those investors who purchase real estate or start business ventures just prior to coming out of an economic slump have historically done well with both the purchase and their business. The Spearfish real estate market appears to be on the upswing and has a positive future.
Located halfway between Seattle and Chicago, Spearfish is on the Interstate-90 corridor. By air, residents are two to three hours from either coast.
The Lawrence County Airport, also known as Clyde Ice Airfield, is located on the east side of Spearfish. It is classified as a mountain airport with high terrain in the vicinity, and main runway 13/31 asphalt with a length of 6,400 feet and a width of 75 feet.
There are four airlines operating from the Rapid City Regional Airport, an easy hour’s drive from Spearfish. Allegiant Air has non-stop service to and from Las Vegas, NV, and Phoenix, AZ. American Airlines features non-stop services to and from Chicago, IL, and Dallas, TX. Delta offers non-stop services to and from Salt Lake City, UT, and Minneapolis, MN, and United has non-stop services to and from Denver, CO, and Chicago, IL.
Ground transportation in Spearfish includes two shuttle services and several taxi services operating in town and in the Black Hills region.
Connected to the world via high-speed network
Businesses and residents alike in Spearfish enjoy access to one of the nation’s most sophisticated telecommunication systems, which includes multiple state-of-the-art, high-speed fiber optic networks. This technology has allowed area industries and telecommuters the opportunity to conduct business world-wide, all from a location where they can enjoy the ultimate quality of life.