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 — September 2026 (current as of October 1, 2026)
What is your home worth in this market?
The numbers on this page are metro averages. Your price comes from the closed sales nearest your address. In the 12 months through September 2026, homes in the $300K–$350K range sold for 99.0% of their original list price. Above $900K, sellers got 94.9–96.2%. Where your home falls makes a real difference to your sale price.
- Built from closed comparable sales in your neighborhood from the last 90 days
- Adjusted for your home’s actual condition and updates
- Prepared personally by Bryan — one agent, start to finish, no hand-offs
No obligation. This is a broker opinion of value, not an appraisal.
Sioux Falls Real Estate Market — September 2026 Snapshot
September 2026 made it three straight months: homes sold faster than a year ago again — days on market fell 10.0% in the City of Sioux Falls (90 → 81) and 3.3–3.4% across the metro and RASE region. Closings picked up (+8.7% to +15.9% year over year), and the median moved modestly higher: $344,600 in the city (+1.8%) and $350,000 metro (+1.4%). Year-to-date medians are up 2.5–3.2%. Sellers captured a slightly higher share of original asking price than a year ago (97.3% city, up from 96.9%). One number to read carefully: the September average sale price jumped 13.4–19.4% while the median barely moved — that gap means more upper-bracket homes closed this September, not that typical homes gained 19% in value. The headwind is financing: the 30-year fixed rate moved above 7% in late September (Freddie Mac), and the RASE affordability index fell 6.0% to 110.
| Metric | SF Metro | City of SF | RASE Area | YoY Change |
|---|---|---|---|---|
| Median Sale Price (September) | $350,000 | $344,600 | $339,000 | +0.1% to +1.8% |
| Median Sale Price (YTD) | $345,000 | $335,000 | $335,346 | +2.5% to +3.2% |
| Avg Sale Price (YTD) | $403,895 | $397,437 | $391,090 | +6.0% to +6.2% |
| Avg Days on Market (September) | 86 | 81 | 87 | -3.3% to -10.0% |
| Avg Days on Market (YTD) | 93 | 88 | 95 | +2.3% to +4.4% |
| Pct. of Original List Price Received (September) | 97.5% | 97.3% | 97.0% | +0.4 to +0.6 pt |
| Pct. of Original List Price Received (YTD) | 97.7% | 97.6% | 97.2% | -0.1 to 0.0 pt |
| Closed Sales (September) | 297 | 219 | 349 | +8.7% to +15.9% |
| Closed Sales (YTD) | 2,882 | 2,188 | 3,380 | +0.8% to +2.4% |
| New Listings (September) | 598 | 450 | 691 | -2.2% to +3.5% |
| New Listings (YTD) | 5,391 | 4,083 | 6,376 | +0.9% to +1.5% |
| New Construction Median (rolling 12 mo.) | — | $383,500 | +2.8% | |
| Previously Owned Median (rolling 12 mo.) | — | $320,500 | +1.7% | |
| Housing Affordability Index | — | 110 (Sep) / 111 (YTD) | -6.0% (Sep) | |
Source: RASE MLS. Current as of October 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. Days on market is an average, not a median. Percent of original list price received does not account for seller concessions. Mortgage-rate reference: Freddie Mac, as cited in the RASE Monthly Indicators report.
What the Data Means for Sioux Falls Buyers — Fall 2026
Buyers lost ground on financing in September: the 30-year fixed rate moved above 7% late in the month (up from a 6.67% August average, per Freddie Mac), and the RASE affordability index fell 6.0% year over year to 110. Prices did not run away — the city median rose 1.8% — but homes kept selling faster than a year ago for the third straight month, and closings rose 8.7–15.9%. For buyers in the Sioux Falls real estate market this fall, three realities apply:
The core price ranges still sell near full price. Over the 12 months through September, homes between $250K and $500K sold for 98.7–99.0% of their original list price. The fastest-moving range was $150K–$200K at an average of 82 days. First-time buyers using SDHDA programs should be pre-approved, have their homebuyer education done, and be ready to act quickly on a new listing. Bryan is a certified SDHDA homebuyer education instructor.
New construction carries a ~$63K premium — and more negotiating room. The new construction median is $383,500 vs. $320,500 for previously owned (rolling 12 months). New builds also average 168 days on market vs. 80 for existing homes, which gives buyers more room to negotiate with builders than with resale sellers.
What the Data Means for Sioux Falls Sellers — Fall 2026
September was the third straight month homes sold faster than a year earlier, and more of them closed: 219 city closings, up 15.9%. Sellers received 97.3% of original list price in the city, up from 96.9% a year ago. The caution flag is buyer financing. Rates above 7% shrink what some buyers can pay, which makes the list price you start with matter more this fall, not less.
Upper-middle price ranges saw the most growth in buyer activity. Rolling 12-month pending sales rose in nearly every range from $350K up, led by $500K–$600K, $700K–$800K and $900K–$1M. Pending counts reflect a change in MLS reporting practices, so the direction is more useful than the exact percentages. If your home fits that range, price it from current closed comparable sales, not last spring’s.
Fall listings still close — on a timeline. Existing homes average about 80 days from list to accepted offer over the past 12 months. At that pace, a home listed in October is realistically closing early in 2027. 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 how fast homes sold and how close to asking they closed in each range over the rolling 12 months through September 2026 (all properties):
| Price Range | Avg Days on Market | Pct. of Original List Received | YoY Change (Pct. of List) |
|---|---|---|---|
| Under $150K | 85-91 | 91.0-95.3% | +0.3 to +0.9% |
| $150K-$250K | 82-84 | 97.0-98.1% | -0.6 to -0.7% |
| $250K-$350K | 93-95 | 98.7-99.0% | -0.1 to +0.1% |
| $350K-$500K | 97-101 | 98.7-99.0% | -0.1 to -0.2% |
| $500K-$700K | 97-101 | 98.4-98.5% | 0.0 to +0.2% |
| $700K-$1M | 96-124 | 96.2-98.2% | -0.1 to -2.4% |
| $1M-$2M | 97-110 | 94.9% | -1.0 to +0.1% |
| $2M+ | 105 | 95.9% | +2.9% |
Source: RASE Housing Supply Overview, rolling 12 months through September 2026 (current as of October 1, 2026). All properties. Days on market is an average from list date to accepted offer.
Under $250K — Entry-Level & Townhomes
Highest demand from first-time buyers. The $150K-$200K range is the fastest-selling lane in the region at an average of 82 days, and $150K-$250K homes sell for 97.0-98.1% of original list. SDHDA-eligible buyers dominate.
$250K-$350K — The Core Market
The largest volume segment. This is where Tea, established west Sioux Falls, and entry-level Harrisburg compete. $300K-$350K sellers capture 99.0% of original list — tied for the firmest pricing in the market.
$350K-$500K — The Move-Up Tier
Move-up buyers from the core market are pushing into this range, and rolling pending sales rose in every sub-tier. Harrisburg new construction, premium SE Sioux Falls, Brandon established. The $450K-$500K sub-tier matches the core at 99.0% of original list.
$500K-$1M — Premium
The growth story of 2026: buyer activity grew fastest in $500K-$600K, $700K-$800K and $900K-$1M. But pricing discipline matters more here — the $800K-$1M ranges slipped 1.4-2.4 points in share of original list received, and $900K-$1M averaged 124 days, the slowest of any range. Updated finishes, professional staging, and accurate pricing matter more here.
$1M+ — Luxury
A small but growing segment. Sellers above $1M received 94.9-95.9% of original list over the past 12 months, with homes averaging 97-110 days on market. 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 September): RASE median $335,346 YTD (+3.2%), Metro YTD $345,000 (+3.0%). DOM 88-95 YTD — and July, August and September each sold faster than the same month a year earlier (September: city -10.0%, region -3.3%). Pct of list 97.2-97.7% YTD. Closings +0.8% to +2.4% YTD. September rolling-12-month median $330,800 (+1.8%).
The trajectory: seven years of steady price appreciation from $214K to roughly $335K, a normalization of DOM after the pandemic frenzy — and a 2026 market where, from July through September, homes sold faster than the year before while prices rose modestly and mortgage rates climbed back above 7%.
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 steady new construction. Region-wide, the $350K-$450K range sells for 98.7-98.8% of original list price (rolling 12 months through September). Move-in ready homes get multiple offers. Harrisburg sale-to-list has run 99%+ — 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 sale-to-list has run near 99%.
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 steady demand — and existing homes now move in roughly 80 days, less than half the new-construction timeline.
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 $383,500, so the price premium is real.
Downtown Sioux Falls — Urban Lifestyle
Smallest inventory segment. Walkability to Falls Park and downtown amenities adds measurable value. Region-wide, condos and townhomes sell for 98.5% of original list price but average 115 days on market, versus 89 for single-family detached.
Neighborhood breakdowns — all 15 area guides
The six areas above are where demand is concentrated right now. The metro numbers on this page hide the spread between all fifteen — each guide covers prices, days on market, schools and commute for that part of the metro.
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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