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 surge 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 — March 2026 (current as of April 1, 2026)
Sioux Falls Real Estate Market — March 2026 Snapshot
The Sioux Falls real estate market is accelerating into Spring 2026. Pending sales surged 128.7% in March — the largest single-month jump in years — while inventory dropped 29-31% across every geographic measure. This is a market where demand is outrunning supply at every price point below $500K, and correctly priced homes are moving fast.
| Metric | SF Metro | City of SF | RASE Area | YoY Change |
|---|---|---|---|---|
| Median Sale Price (March) | $331,250 | $313,950 | $325,000 | +3.2% to +3.5% |
| Median Sale Price (YTD) | $335,000 | $325,000 | $325,000 | +3.2% to +4.2% |
| Avg Sale Price (YTD) | $385,960 | $380,366 | $371,077 | +5.1% to +8.5% |
| Days on Market (March) | 99 | 85 | 104 | -6.6% to +10.6% |
| Sale-to-List Ratio (YTD) | 97.1% | 97.2% | 96.6% | -0.4% to -0.5% |
| Active Listings | 1,075 | 789 | 1,355 | -29% to -32% |
| Months Supply | 3.0 | 3.0 | 3.2 | -38% to -40% |
| Pending Sales (March) | — | — | 796 | +128.7% |
| Closed Sales (YTD) | 643 | 479 | 757 | -6.1% to -8.1% |
| New Listings (YTD) | 1,540 | 1,157 | 1,812 | -0.2% to +4.6% |
| New Construction Median | — | $376,650 | +2.4% | |
| Previously Owned Median | — | $316,000 | +1.4% | |
| Luxury ($1.5M-$2M) Pending | — | 19 sales | +58.3% | |
| Housing Affordability Index | — | 121 | -0.8% | |
Source: RASE MLS. Current as of April 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.
What the Data Means for Sioux Falls Buyers — Spring 2026
Pending sales up 128.7% in a single month against inventory down 29-31%. That’s not a balanced market — that’s a supply crisis accelerating into peak season. For buyers in the Sioux Falls real estate market right now, three realities apply:
The $200K-$250K tier moves fastest. At 80 days on market, this is the most competitive price range in the entire 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 $60K premium. New construction median sits at $376,650 vs. $316,000 for previously owned. But new construction also averages 168 days on market vs. 80 for existing homes — which means new builds carry more negotiation room than the resale market.
What the Data Means for Sioux Falls Sellers — Spring 2026
March pending sales surged 128.7%. Inventory is down 29-31% across every measure. On paper, this is the most favorable seller’s market since 2022. But the sale-to-list ratio tells the critical story: sellers are receiving 97.1% of original asking price — down 0.5% from last year. That gap costs real money.
The $350K-$500K tier is surging. Pending sales in the $350K-$400K range are up 26.8%, $400K-$450K up 27.9%, and $450K-$500K up 39.0%. If your home fits this range, Spring 2026 is your window — but only if priced from current closed comparable sales.
Spring (April-June) is peak season. New listings peaked at 847 in April 2025 and are trending up 4.6% this year. More competition is coming. 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 March 2026:
| Price Range | Pending Sales | YoY Change | Avg DOM | Months Supply |
|---|---|---|---|---|
| Under $200K | 572 | +1.2% | 84-86 | 2.9-3.5 |
| $200K-$300K | 1,334 | +7.0% | 80-95 | 2.4-2.7 |
| $300K-$400K | 1,567 | +17.8% | 90-92 | 2.8 |
| $400K-$500K | 720 | +33.0% | 97-99 | 3.1-3.2 |
| $500K-$700K | 498 | +11.2% | 102-117 | 4.0-5.0 |
| $700K-$1M | 221 | +7.3% | 101-105 | 6.1-9.6 |
| $1M-$2M | 93 | +51.6% | 108-111 | 6.6-9.3 |
| $2M+ | 12 | +33.3% | 233 | 9.1 |
Source: RASE Housing Supply Overview, rolling 12 months through March 2026. All properties.
Under $250K — Entry-Level & Townhomes
Highest demand from first-time buyers. The $200K-$250K range sells fastest at 80 DOM with just 2.4 months supply. This is the tightest segment in the market. SDHDA-eligible buyers dominate.
$300K-$400K — The Core Market
The largest volume segment: 1,567 pending sales, up 17.8% YoY. This is where Tea, established west Sioux Falls, and entry-level Harrisburg compete. 2.8 months supply — firmly seller’s territory.
$400K-$500K — The Surge Tier
Fastest-growing demand segment: +33.0% YoY in pending sales. Move-up buyers from the core market are pushing into this range. Harrisburg new construction, premium SE Sioux Falls, Brandon established. Still 3.1-3.2 months supply.
$500K-$1M — Premium
Active but more selective. DOM stretches to 102-117 days. Supply loosens to 4.0-9.6 months depending on exact price point. Updated finishes, professional staging, and accurate pricing matter more here.
$1M+ — Luxury
The $1M-$1.5M tier surged +48.0%, and $1.5M-$2M posted +58.3% in pending sales. Volume is growing fast but from a small base (93 total sales). Above $2M, homes average 233 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 March): Median $325,000 rolling (+1.6%), Metro YTD $335,000 (+3.8%). DOM 93-104. Pct of list 96.6-97.1%. Pending sales exploding (+128.7% March). Inventory collapsing (-29.3%).
The trajectory: seven years of steady price appreciation from $214K to $335K (+56.5%), a normalization of DOM from the 72-76 day pandemic frenzy back to 93-104 days, and a 2026 spring market where buyer demand is surging against the tightest inventory since 2022.
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 — Highest Family Demand
Strong appreciation. Top-rated school district drives demand. The $350K-$450K new construction segment is surging (+27% YoY). Move-in ready homes get multiple offers.
Brandon — Top School District
Steady demand. Brandon Valley is #1 ranked in the area. The $300K-$400K core market here benefits from the 17.8% surge in pending sales.
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 2.5 months supply — well below the metro average.
SE Sioux Falls / Copper Creek — Newest Construction
Active new construction. New builds average 168 DOM vs. 80 for existing — more room to negotiate. But new construction median is $376,650, 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 5.9 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.
Request a Custom Market ReportRASE Infographic — March 2026
Source: RASE MLS, March 2026. Click to enlarge.
FAQ — Sioux Falls Real Estate Market
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