South Dakota Housing Market
Cool MarketHousing market data and trends for South Dakota. Track median prices, inventory, days on market, and competition metrics for real estate investors.
Data period: March 2026
Median Sale Price
$318K
↓ 2.5% YoY
Days on Market
85 days
↑ 2.4% YoY
Active Inventory
2,569
↓ 8.3% YoY
Homes Sold
669
↑ 1.1% YoY
Cool Market
Buyer activity is slowing, creating more negotiating room.
South Dakota Market Summary
The South Dakota housing market is cooling down. As of March 2026, the median home sale price is $318K, down 2.5% year-over-year. Homes are spending a median of 85 days on the market, 2.4% longer than a year ago.
There are 2,569 homes for sale — 8.3% fewer than last year. With 3.8 months of supply, this is a seller's market. 1,139 new listings were added during this period, up 17.1% year-over-year.
Homes are selling for 97.3% of their list price on average, suggesting room for negotiation. 12.6% of homes sell above their asking price. 17.6% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
68
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. Prices are 27% below the national median, which could indicate stronger cash flow potential.
South Dakota Market Trends
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Detailed Market Metrics
Median List Price
$371K
Price per Sq Ft
$185
Sale-to-List Ratio
97.3%
Months of Supply
3.8
Sold Above List
12.6%
Price Drops
17.6%
New Listings
1,139
↑ 17.1% YoY
Pending Sales
909
Metro Areas in South Dakota
Sioux Falls, SD metro area
$327K median
66 days
on market
Rapid City, SD metro area
$346K median
95 days
on market
Aberdeen, SD metro area
$222K median
83 days
on market
Spearfish, SD metro area
$485K median
120 days
on market
Yankton, SD metro area
$247K median
49 days
on market
Watertown, SD metro area
$275K median
104 days
on market
Mitchell, SD metro area
$313K median
76 days
on market
Huron, SD metro area
$205K median
53 days
on market
Pierre, SD metro area
$230K median
111 days
on market
Vermillion, SD metro area
$239K median
43 days
on market
Brookings, SD metro area
$275K median
81 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.