Mitchell, SD metro area Housing Market
Cold MarketComprehensive housing market data for the Mitchell, SD metro area metro area. Track home prices, inventory, days on market, and competition — updated monthly for real estate investors.
Data period: March 2026
Median Sale Price
$313K
↑ 45.3% YoY
Days on Market
76 days
↑ 31.0% YoY
Active Inventory
50
↑ 13.6% YoY
Homes Sold
14
↑ 7.7% YoY
Cold Market
Inventory is high and homes are sitting longer — a buyer's market.
Mitchell, SD metro area Market Summary
The Mitchell, SD metro area housing market is cooling down. As of March 2026, the median home sale price is $313K, up 45.3% year-over-year. Homes are spending a median of 76 days on the market, 31.0% longer than a year ago.
There are 50 homes for sale — 13.6% more than last year. With 3.6 months of supply, this is a seller's market. 24 new listings were added during this period, up 41.2% year-over-year.
Homes are selling for 96.3% of their list price on average, suggesting room for negotiation. 14.3% of homes sell above their asking price. 22.0% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
76
Contributing Factors
How This Market Compares
vs. National Median
vs. South Dakota Median
Investor Takeaway
The cooling market may present buying opportunities with less competition and more negotiating leverage. A significant share of sellers are cutting prices, which can signal motivated sellers and potential deals. Prices are 28% below the national median, which could indicate stronger cash flow potential.
Mitchell, SD metro area Market Trends
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Detailed Market Metrics
Median List Price
$246K
Price per Sq Ft
$128
Sale-to-List Ratio
96.3%
Months of Supply
3.6
Sold Above List
14.3%
Price Drops
22.0%
New Listings
24
↑ 41.2% YoY
Pending Sales
18
Off Market in 2 Weeks
27.8%
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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.