Sioux Falls, SD metro area Housing Market
Cold 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: January 2026
Median Sale Price
$335K
↑ 5.1% YoY
Days on Market
50 days
↓ 40.5% YoY
Active Inventory
883
↓ 24.2% YoY
Homes Sold
169
↓ 12.0% YoY
Cold Market
Inventory is high and homes are sitting longer — a buyer's market.
Sioux Falls, SD metro area Market Summary
The Sioux Falls, SD metro area housing market is cooling down. As of January 2026, the median home sale price is $335K, up 5.1% year-over-year. Homes are spending a median of 50 days on the market, 40.5% shorter than a year ago.
There are 883 homes for sale — 24.2% fewer than last year. With 5.2 months of supply, this is a balanced market. 318 new listings were added during this period, up 2.9% year-over-year.
Homes are selling for 98.2% of their list price on average, suggesting room for negotiation. 15.4% of homes sell above their asking price. 19.0% 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
vs. South Dakota 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 21% below the national median, which could indicate stronger cash flow potential.
Sioux Falls, SD metro area Market Trends
Median Sale Price
Median Days on Market
Active Inventory
Homes Sold
Price per Square Foot
Sale-to-List Ratio
New Listings
Listings with Price Drops
Detailed Market Metrics
Median List Price
$354K
Price per Sq Ft
$186
Sale-to-List Ratio
98.2%
Months of Supply
5.2
Sold Above List
15.4%
Price Drops
19.0%
New Listings
318
↑ 2.9% YoY
Pending Sales
223
Off Market in 2 Weeks
26.0%
Other Markets in South Dakota
Rapid City, SD metro area
$356K · 92d on market
Aberdeen, SD metro area
$165K · 72d on market
Spearfish, SD metro area
$485K · 165d on market
Yankton, SD metro area
$258K · 39d on market
Watertown, SD metro area
$300K · 75d on market
Mitchell, SD metro area
$240K · 39d on market
Huron, SD metro area
$167K · 87d on market
Pierre, SD metro area
$342K · 95d 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.