South Dakota Housing Market
Cold MarketHousing market data and trends for South Dakota. Track median prices, inventory, days on market, and competition metrics for real estate investors.
Data period: January 2026
Median Sale Price
$322K
↑ 2.1% YoY
Days on Market
74 days
↓ 10.8% YoY
Active Inventory
2,382
↓ 10.4% YoY
Homes Sold
420
↓ 7.9% YoY
Cold Market
Inventory is high and homes are sitting longer — a buyer's market.
South Dakota Market Summary
The South Dakota housing market is cooling down. As of January 2026, the median home sale price is $322K, up 2.1% year-over-year. Homes are spending a median of 74 days on the market, 10.8% shorter than a year ago.
There are 2,382 homes for sale — 10.4% fewer than last year. With 5.7 months of supply, this is a balanced market. 704 new listings were added during this period, up 3.5% year-over-year.
Homes are selling for 97.4% of their list price on average, suggesting room for negotiation. 12.9% of homes sell above their asking price. 16.7% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
73
Contributing Factors
How This Market Compares
vs. National Median
Investor Takeaway
The cooling market may present buying opportunities with less competition and more negotiating leverage. High inventory relative to sales pace means buyers have options and sellers may be flexible on price. Prices are 24% below the national median, which could indicate stronger cash flow potential.
South Dakota Market Trends
Median Sale Price
Median Days on Market
Active Inventory
Homes Sold
Sale-to-List Ratio
Listings with Price Drops
Detailed Market Metrics
Median List Price
$357K
Price per Sq Ft
$181
Sale-to-List Ratio
97.4%
Months of Supply
5.7
Sold Above List
12.9%
Price Drops
16.7%
New Listings
704
↑ 3.5% YoY
Pending Sales
620
Metro Areas in South Dakota
Sioux Falls, SD metro area
$335K median
50 days
on market
Rapid City, SD metro area
$356K median
92 days
on market
Aberdeen, SD metro area
$165K median
72 days
on market
Spearfish, SD metro area
$485K median
165 days
on market
Yankton, SD metro area
$258K median
39 days
on market
Watertown, SD metro area
$300K median
75 days
on market
Mitchell, SD metro area
$240K median
39 days
on market
Huron, SD metro area
$167K median
87 days
on market
Pierre, SD metro area
$342K median
95 days
on market
Vermillion, SD metro area
$280K median
18 days
on market
Brookings, SD metro area
$304K median
34 days
on market
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Try It FreeHousing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.