Sioux Falls, SD metro area Housing Market
Cool MarketComprehensive housing market data for the Sioux Falls, 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
$327K
↑ 3.8% YoY
Days on Market
66 days
↓ 17.5% YoY
Active Inventory
893
↓ 25.5% YoY
Homes Sold
298
↓ 2.9% YoY
Cool Market
Buyer activity is slowing, creating more negotiating room.
Sioux Falls, SD metro area Market Summary
The Sioux Falls, SD metro area housing market is cooling down. As of March 2026, the median home sale price is $327K, up 3.8% year-over-year. Homes are spending a median of 66 days on the market, 17.5% shorter than a year ago.
There are 893 homes for sale — 25.5% fewer than last year. With 3.0 months of supply, this is a seller's market. 470 new listings were added during this period, up 10.6% year-over-year.
Homes are selling for 98.0% of their list price on average, suggesting room for negotiation. 11.7% of homes sell above their asking price. 20.4% 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
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 25% below the national median, which could indicate stronger cash flow potential.
Sioux Falls, SD metro area Market Trends
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Detailed Market Metrics
Median List Price
$359K
Price per Sq Ft
$184
Sale-to-List Ratio
98.0%
Months of Supply
3.0
Sold Above List
11.7%
Price Drops
20.4%
New Listings
470
↑ 10.6% YoY
Pending Sales
374
Off Market in 2 Weeks
42.0%
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Mitchell, SD metro area
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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.