South Dakota housing market
Statewide listing data for September 2026, the latest month Realtor.com® Economic Research has published, with two years of history. Checked October 8, 2026.
South Dakota at a glance
MidwestSource: Realtor.com® Economic Research (South Dakota, September 2026). Asking prices and active listings, not closed sales.
What the data says
- The number of homes for sale in South Dakota is about the same as a year ago.
- The median asking price is roughly flat over the past year.
- 18% of active listings have had at least one price reduction.
- The typical listing spends 58 days on the market, 3 days shorter than a year ago.
Repeat sales and appraisals of the same homes, published quarterly with a lag of about two months.
Two-year trend
Median listing price, South Dakota
| Period | Value |
|---|---|
| 2024-09-01 | $380K |
| 2024-10-01 | $373K |
| 2024-11-01 | $374K |
| 2024-12-01 | $370K |
| 2025-01-01 | $370K |
| 2025-02-01 | $373K |
| 2025-03-01 | $382K |
| 2025-04-01 | $389K |
| 2025-05-01 | $399K |
| 2025-06-01 | $395K |
| 2025-07-01 | $390K |
| 2025-08-01 | $383K |
| 2025-09-01 | $374K |
| 2025-10-01 | $370K |
| 2025-11-01 | $365K |
| 2025-12-01 | $365K |
| 2026-01-01 | $370K |
| 2026-02-01 | $375K |
| 2026-03-01 | $379K |
| 2026-04-01 | $382K |
| 2026-05-01 | $383K |
| 2026-06-01 | $384K |
| 2026-07-01 | $378K |
| 2026-08-01 | $375K |
| 2026-09-01 | $375K |
Homes for sale, South Dakota
| Period | Value |
|---|---|
| 2024-09-01 | 2,763 |
| 2024-10-01 | 2,869 |
| 2024-11-01 | 2,852 |
| 2024-12-01 | 2,596 |
| 2025-01-01 | 2,335 |
| 2025-02-01 | 2,317 |
| 2025-03-01 | 2,288 |
| 2025-04-01 | 2,521 |
| 2025-05-01 | 2,933 |
| 2025-06-01 | 3,185 |
| 2025-07-01 | 3,373 |
| 2025-08-01 | 3,548 |
| 2025-09-01 | 3,566 |
| 2025-10-01 | 3,522 |
| 2025-11-01 | 3,283 |
| 2025-12-01 | 3,061 |
| 2026-01-01 | 2,757 |
| 2026-02-01 | 2,615 |
| 2026-03-01 | 2,649 |
| 2026-04-01 | 2,814 |
| 2026-05-01 | 2,954 |
| 2026-06-01 | 3,201 |
| 2026-07-01 | 3,365 |
| 2026-08-01 | 3,513 |
| 2026-09-01 | 3,581 |
Listings follow a seasonal pattern each year; compare a month with the same month a year earlier.
South Dakota compared with the U.S.
Compare with another state| Measure | South Dakota | United States |
|---|---|---|
| Median listing price | $375,000 (+0.4% y/y) | $419,250 (−1.4% y/y) |
| Homes for sale | 3,581 (+0.4% y/y) | 1,161,615 (+5.4% y/y) |
| Median days on market | 58 days (−3 days y/y) | 61 days (Unchanged y/y) |
| Listings with a price cut | 17.6% (+1.9 pts y/y) | 20.8% (+0.9 pts y/y) |
| Median list price per sq ft | $204 (−0.1% y/y) | $223 (−1.7% y/y) |
Sources: Realtor.com® Economic Research (South Dakota, September 2026); Realtor.com® Economic Research (United States, September 2026). “y/y” is the change from the same month a year earlier.
An affordability illustration
Run your own numbersThe inputs
- Median listing price (September 2026)$375,000
- Down payment20% ($75,000)
- Loan amount$300,000
- Rate: 30-year fixed, national (Week of Oct 1, 2026)7.28%
- Median household income, South Dakota (2025)$82,460
This is an illustration, not a lender calculation. It leaves out property taxes, homeowners insurance, mortgage insurance and HOA dues, which can add several hundred dollars or more a month. The rate is a national average for strong-credit borrowers; your rate may differ.
Sources: Realtor.com® Economic Research (South Dakota, September 2026); Freddie Mac Primary Mortgage Market Survey, via FRED, Federal Reserve Bank of St. Louis (United States, Week of Oct 1, 2026); U.S. Census Bureau, Current Population Survey, via FRED, Federal Reserve Bank of St. Louis (South Dakota, 2025).
Editor’s notes on South Dakota
Written March 2026; conditions may have changedSouth Dakota's no-income-tax status makes it a destination for high earners and entrepreneurs. Sioux Falls' financial services sector (Citibank, Wells Fargo credit operations) drives demand. Rapid City's proximity to Mount Rushmore and Black Hills outdoor recreation creates steady lifestyle demand.
For buyers
Tax advantages are real — no income tax is especially valuable for high earners. Sioux Falls consistently ranks among America's most livable mid-sized cities.
For sellers
Tax advantage narrative resonates strongly. Many buyers are specifically relocating for financial reasons and will move decisively.
These notes are background written by our editors in March 2026, before the data above. Where they differ, the dated figures on this page are more current.