The Sioux Falls real estate market in 2026 is data-driven. Bryan Anfinson tracks the Sioux Falls housing market monthly using RASE (Realtor Association of the Sioux Empire) MLS data to give buyers and sellers an honest read on what’s really happening — not Zillow estimates.
Sioux Falls Real Estate Market Report — Live Data, Honest Analysis
Median home price, days on market, sale-to-list ratio, inventory trends, pending sales data, and the numbers that actually drive buying and selling decisions in Sioux Falls. Updated monthly from verified RASE MLS sources.
Data Source: RASE MLS — June 2026 (current as of July 1, 2026)
Sioux Falls Real Estate Market — June 2026 Snapshot
The Sioux Falls real estate market cooled in pace but not in price through June 2026. Closed sales fell 12–15% year-over-year across every geography — partly a tough comparison against a strong June 2025, partly buyers adjusting to elevated mortgage rates. Yet inventory stayed down about 30%, months supply held near 3.3–3.6, and the median sale price still rose. This remains a market where correctly priced homes move and overpriced listings sit. (Note: RASE pending sales showed a +75.7% year-over-year jump in June — a change in MLS reporting practices to comply with RESO standards, not a surge in underlying demand.)
| Metric | SF Metro | City of SF | RASE Area | YoY Change |
|---|---|---|---|---|
| Median Sale Price (June) | $350,500 | $335,000 | $339,900 | +1.6% to +4.6% |
| Median Sale Price (YTD) | $344,900 | $332,500 | $335,346 | +3.9% to +5.3% |
| Avg Sale Price (YTD) | $402,409 | $393,981 | $390,818 | +7.8% to +8.4% |
| Days on Market (June) | 85 | 84 | 86 | 0.0% to +3.7% |
| Days on Market (YTD) | 95 | 91 | 97 | +3.4% to +5.6% |
| Sale-to-List Ratio (June) | 98.6% | 98.6% | 98.1% | +0.3% |
| Sale-to-List Ratio (YTD) | 97.7% | 97.8% | 97.3% | -0.1% to -0.2% |
| Active Listings | 1,196 | 892 | 1,531 | -30.0% to -31.9% |
| Months Supply | 3.4 | 3.3 | 3.6 | -38.9% to -39.3% |
| Pending Sales (June)* | — | — | 859 | +75.7%* |
| Pending Sales (YTD)* | — | — | 2,807 | +31.2%* |
| Closed Sales (June) | 371 | 275 | 428 | -12.5% to -14.6% |
| Closed Sales (YTD) | 1,817 | 1,367 | 2,111 | -1.0% to -2.6% |
| New Listings (June) | 620 | 481 | 736 | +2.1% to -2.9% |
| New Listings (YTD) | 3,436 | 2,608 | 4,076 | -2.4% to -2.7% |
| New Construction Median (rolling) | — | $385,500 | +5.3% | |
| Previously Owned Median (rolling) | — | $320,000 | +2.2% | |
| Housing Affordability Index | — | 114 (June) / 116 (YTD) | -1.7% to -2.6% | |
Source: RASE MLS. Current as of July 1, 2026. Metro = Sioux Falls Metropolitan Statistical Area. City = City of Sioux Falls (Lincoln + Minnehaha Counties). RASE = full Realtor Association of the Sioux Empire coverage area. *Pending sales figures reflect a change in MLS reporting practices to comply with RESO standards and are not directly comparable to prior-year demand.
What the Data Means for Sioux Falls Buyers — Summer 2026
June closings fell 12–15% year-over-year, but that’s pace, not price weakness. Inventory is still down about 30% and months supply sits near 3.3–3.6 — a seller’s market with fewer homes competing for you than a year ago. For buyers in the Sioux Falls real estate market right now, three realities apply:
The $200K-$250K tier moves fastest. At just 82 days on market and 2.5 months supply, this is the tightest, most competitive price range in the RASE area. First-time buyers using SDHDA programs need to be pre-approved, pre-educated, and ready to act within 48 hours of a new listing. Bryan is a certified SDHDA homebuyer education instructor.
New construction carries a ~$65K premium. New construction median sits at $385,500 vs. $320,000 for previously owned. But new construction also averages 163 days on market vs. 82 for existing homes — which means new builds carry more negotiation room than the resale market.
What the Data Means for Sioux Falls Sellers — Summer 2026
Inventory down about 30% across every measure, months supply near 3.3–3.6, and the median sale price still rising in June. This is a sustained seller’s market. But the sale-to-list ratio tells the critical story: sellers received 97.3–97.8% of original asking price YTD. That gap costs real money.
The $350K-$500K tier is surging. On a rolling 12-month basis, pending sales in the $350K-$400K range are up 22.5%, $400K-$450K up 32.5%, and $450K-$500K up 29.2%. If your home fits this range, Summer 2026 is your window — but only if priced from current closed comparable sales.
New listings are roughly flat. June new listings ran from +2.1% (City) to -2.9% (RASE) year-over-year; YTD new listings are down 2.4-2.7%. Supply isn’t rebuilding fast — good for sellers listing now, but also fewer move-up options when you sell. Bryan’s 14-day launch strategy starts weeks before the sign goes up — positioning, pricing, and professional marketing before Day 1.
Sioux Falls Market by Price Tier — Where Demand Is Hottest
Aggregate metro data tells one story. Price-tier data tells the real story — and it’s not uniform. Here’s where demand concentrated in the rolling 12 months through June 2026 (pending sales, all properties):
| Price Range | Pending Sales | YoY Change | Avg DOM | Months Supply |
|---|---|---|---|---|
| Under $150K | 261 | +17.6% | 83-87 | 3.3 |
| $150K-$250K | 874 | +4.2% | 82-83 | 2.5-2.9 |
| $250K-$350K | 1,590 | -0.6% | 90-94 | 2.8-3.7 |
| $350K-$500K | 1,412 | +26.9% | 96-99 | 3.1-3.4 |
| $500K-$700K | 541 | +23.0% | 100-110 | 4.2-6.1 |
| $700K-$1M | 256 | +45.5% | 103-121 | 4.9-11.6 |
| $1M-$2M | 95 | +35.7% | 104-120 | 8.3-16.0 |
| $2M+ | 15 | +87.5% | 156 | 10.0 |
Source: RASE Housing Supply Overview, rolling 12 months through June 2026. All properties. Pending-sales figures reflect RESO reporting changes.
Under $250K — Entry-Level & Townhomes
Highest demand from first-time buyers. The $200K-$250K range sells fastest at 82 DOM with just 2.5 months supply — the tightest segment in the market. SDHDA-eligible buyers dominate.
$250K-$350K — The Core Market
The largest volume segment: 1,590 rolling pending sales. This is where Tea, established west Sioux Falls, and entry-level Harrisburg compete. 2.8-3.7 months supply — firmly seller’s territory.
$350K-$500K — The Surge Tier
Fastest-growing demand segment: +22.5% to +32.5% YoY in pending sales depending on sub-tier. Move-up buyers from the core market are pushing into this range. Harrisburg new construction, premium SE Sioux Falls, Brandon established. 3.1-3.4 months supply.
$500K-$1M — Premium
Active but more selective. DOM stretches to 100-121 days. Supply loosens to 4.2-11.6 months depending on exact price point. Updated finishes, professional staging, and accurate pricing matter more here.
$1M+ — Luxury
The $1M-$1.5M tier posted +41.8% in rolling pending sales and $1.5M-$2M posted +13.3%. The $2M+ segment surged +87.5% — the strongest growth by percentage, though from a small base. Above $2M, homes average 156 days — specialized marketing and discreet negotiation are essential.
Sioux Falls Housing Market — Historical Context
Understanding the Sioux Falls real estate market requires looking past one month of data. Here’s how key metrics have moved, per RASE annual review data:
2020: Median $230,000 (+7.5%). DOM 84. Pct of list 98.4%. 5,529 closed (+16.2%).
2021: Median $258,000 (+12.2%). DOM 76. Pct of list 100.4%. 5,507 closed (-0.4%). Peak frenzy.
2022: Median $295,717 (+14.6%). DOM 72. Pct of list 100.7%. 4,636 closed (-15.8%). Rate shock begins.
2023: Median $307,950 (+4.1%). DOM 77. Pct of list 98.1%. 4,077 closed (-12.1%). Correction year.
2024: Median $319,900 (+3.9%). DOM 84. Pct of list 97.7%. 4,319 closed (+5.9%). Stabilization.
2025: Median $325,000 (+1.6%). DOM 91. Pct of list 96.9%. 4,373 closed (+1.3%). Slow growth, inventory builds.
2026 (through June): RASE median $335,346 YTD (+4.5%), Metro YTD $344,900 (+5.3%). DOM 91-97. Pct of list 97.3-97.8%. Closings down 1-2.6% YTD; inventory collapsing (-30.5%). June rolling-12-month median $330,838 (+3.4%).
The trajectory: seven years of steady price appreciation from $214K to roughly $340K, a normalization of DOM from the 72-76 day pandemic frenzy back to the low-to-mid 90s, and a 2026 market where a cooling sales pace meets the tightest inventory since 2022 — keeping prices firm.
Sioux Falls Real Estate Market — By Neighborhood
Metro data tells one story. Individual neighborhood data tells another — and that’s what actually matters when you’re buying or selling. Bryan tracks neighborhood-specific data for every micro-market in Sioux Falls:
Harrisburg — Strongest Buyer Demand
Strong appreciation and limited supply. The $350K-$450K new construction segment is surging (+25-40% YoY rolling). Move-in ready homes get multiple offers. YTD Harrisburg sale-to-list ran 99.2% — the highest in the metro.
Brandon — Established Demand
Steady buyer demand and limited supply. Brandon Valley School District. The $250K-$350K core market here benefits from sustained demand; Brandon YTD sale-to-list ran 98.9%.
Tea — Best Value Per Square Foot
Best price-per-sq-ft in the metro. New construction abundant. The entry-level $250K-$350K tier is the volume leader, and Tea captures a disproportionate share of first-time buyer activity.
McKennan Park — Walkability Premium
Wide range based on updates. Walkability and character command premiums. Previously owned homes in established neighborhoods like McKennan benefit from tight supply — well below the metro average.
SE Sioux Falls / Copper Creek — Newest Construction
Active new construction. New builds average 163 DOM vs. 82 for existing — more room to negotiate. But new construction median is $385,500, so the price premium is real.
Downtown Sioux Falls — Urban Lifestyle
Smallest inventory segment. Walkability to Falls Park and downtown amenities adds measurable value. Condo/townhouse segment has 6.1 months supply — the most balanced segment.
Want Neighborhood-Specific Market Data?
Bryan can pull current data for any Sioux Falls neighborhood — price trends, DOM, recent sales, and what your home or target home is realistically worth right now.
FAQ — Sioux Falls Real Estate Market
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