Spearfish, SD metro area Housing Market
Cold MarketComprehensive housing market data for the Spearfish, 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
$485K
↓ 17.7% YoY
Days on Market
120 days
↓ 14.9% YoY
Active Inventory
228
↑ 3.2% YoY
Homes Sold
33
– 0.0% YoY
Cold Market
Inventory is high and homes are sitting longer — a buyer's market.
Spearfish, SD metro area Market Summary
The Spearfish, SD metro area housing market is cooling down. As of March 2026, the median home sale price is $485K, down 17.7% year-over-year. Homes are spending a median of 120 days on the market, 14.9% shorter than a year ago.
There are 228 homes for sale — 3.2% more than last year. With 6.9 months of supply, this is a buyer's market. 64 new listings were added during this period, up 14.3% year-over-year.
Homes are selling for 96.0% of their list price on average, suggesting room for negotiation. 3.0% of homes sell above their asking price. 19.7% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
88
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.
Spearfish, SD metro area Market Trends
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Detailed Market Metrics
Median List Price
$580K
Price per Sq Ft
$241
Sale-to-List Ratio
96.0%
Months of Supply
6.9
Sold Above List
3.0%
Price Drops
19.7%
New Listings
64
↑ 14.3% YoY
Pending Sales
57
Off Market in 2 Weeks
33.3%
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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.