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 — August 2026 (current as of September 1, 2026)
Sioux Falls Real Estate Market — August 2026 Snapshot
August 2026 confirmed July’s turn: homes sold faster than a year ago for the second straight month — days on market fell 12.6% in the city (87 → 76) and 18.1% region-wide. Sellers kept coming (new listings +6.1% to +7.9%), buyers absorbed it, and inventory still fell 24–26%. The headline that needs context: the August median printed 4.9–8.3% below last August — but that’s a base effect, not a price slide. Last August was a luxury-heavy spike month (16 city closings over $750K vs. 6 this year), while year-to-date medians remain UP 3.0–3.1% and sellers actually captured a higher share of asking price than a year ago (97.3% city, +0.2 pt). Correctly priced homes are moving faster than last year; aspirational pricing sits. (Note: RASE pending sales +87.0% reflects the RESO reporting change, not a demand surge.)
| Metric | SF Metro | City of SF | RASE Area | YoY Change |
|---|---|---|---|---|
| Median Sale Price (August) | $330,000 | $329,500 | $328,000 | -4.9% to -8.3%† |
| Median Sale Price (YTD) | $344,000 | $334,900 | $335,000 | +3.0% to +3.1% |
| Avg Sale Price (YTD) | $399,725 | $391,384 | $387,896 | +4.7% to +5.4% |
| Days on Market (August) | 75 | 76 | 77 | -12.6% to -18.5% |
| Days on Market (YTD) | 91 | 88 | 93 | +1.1% to +2.3% |
| Sale-to-List Ratio (August) | 97.3% | 97.3% | 96.9% | +0.2 to +0.8 pt |
| Sale-to-List Ratio (YTD) | 97.7% | 97.7% | 97.2% | -0.1% |
| Active Listings | 1,313 | 976 | 1,676 | -24.1% to -26.1% |
| Months Supply | 3.7 | 3.7 | 4.0 | -32.7% to -35.1% |
| Pending Sales (August)* | — | — | 748 | +87.0%* |
| Pending Sales (YTD)* | — | — | 3,609 | +20.1%* |
| Closed Sales (August) | 291 | 225 | 347 | -12.5% to -16.8% |
| Closed Sales (YTD) | 2,536 | 1,940 | 2,973 | -0.4% to -1.9% |
| New Listings (August) | 624 | 463 | 734 | +6.1% to +7.9% |
| New Listings (YTD) | 4,774 | 3,622 | 5,660 | +0.8% to +1.0% |
| New Construction Median (rolling) | — | $386,900 | +4.6% | |
| Previously Owned Median (rolling) | — | $320,000 | +1.6% | |
| Housing Affordability Index | — | 117 (Aug) / 114 (YTD) | +4.5% (Aug) | |
Source: RASE MLS. Current as of September 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; months-supply calculations use pending sales and are affected by the same change. †August 2025 was a luxury-heavy comp month (16 City closings over $750K vs. 6 in August 2026); YTD medians remain up 3.0–3.1% and sale-to-list ratios rose year-over-year.
What the Data Means for Sioux Falls Buyers — Late Summer 2026
More choice kept arriving in August — new listings rose 6–8% — and for the first time in months buyers caught two real breaks: the affordability index improved 4.5% year-over-year, and the August median printed below last year’s luxury-heavy comp. But inventory still fell 24–26%, homes went under contract 13–18% faster than a year ago, and metro months supply sits at 3.7. For buyers in the Sioux Falls real estate market right now, three realities apply:
The $250K-$300K tier is now the tightest in the market. Just 3.0 months of supply (down 42% from last year), with $450K-$500K right behind at 3.1 (down 55%). The broader $150K-$300K entry range moves in roughly 83-93 days. 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 ~$67K premium. New construction median sits at $386,900 vs. $320,000 for previously owned (rolling 12 months). But new builds also average 161 days on market vs. 81 for existing homes — which means builders have more negotiation room than resale sellers do.
What the Data Means for Sioux Falls Sellers — Late Summer 2026
August made it a trend: for the second straight month homes sold faster than a year ago, new listings rose again (+6–8%), and buyers absorbed all of it — inventory still fell 24–26%. And here’s the number that should reframe the “prices dipped” headline for any seller: the share of original asking price sellers captured went UP year-over-year — 97.3% in the city (+0.2 pt), 96.9% region-wide (+0.8 pt). The market isn’t paying less for well-priced homes; it closed fewer luxury sales than last August’s unusual spike. Pricing accuracy still decides your outcome.
The move-up market is still surging. On a rolling 12-month basis through August, pending sales are up +14.8% ($350K-$400K), +24.9% ($400K-$450K), +29.7% ($500K-$600K) — and the $700K-$800K range leads the entire market at +56.8%. The $450K-$500K tier has just 3.1 months of supply, down 55% from a year ago. If your home fits $350K-$800K, this is your window — but only if priced from current closed comparable sales.
Sellers are testing the market again — and it’s working. August new listings rose +6.1% (RASE) to +7.9% (City) year-over-year, the second straight month of real supply return. Buyers took everything — and paid a higher share of asking than last year. Listing now means selling into proven demand. 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 August 2026 (pending sales, all properties):
| Price Range | Pending Sales | YoY Change | Avg DOM | Months Supply |
|---|---|---|---|---|
| Under $150K | 252 | +12.5% | 84-86 | 3.3-4.6 |
| $150K-$250K | 876 | +5.5% | 83 | 3.3-3.4 |
| $250K-$350K | 1,588 | +3.3% | 90-93 | 3.0-4.3 |
| $350K-$500K | 1,349 | +17.4% | 94-101 | 3.1-4.0 |
| $500K-$700K | 553 | +28.6% | 98-102 | 4.3-5.3 |
| $700K-$1M | 249 | +36.8% | 96-129 | 5.4-11.6 |
| $1M-$2M | 97 | +32.9% | 97-119 | 9.2-15.5 |
| $2M+ | 16 | +23.1% | 97 | 8.5 |
Source: RASE Housing Supply Overview, rolling 12 months through August 2026. All properties. Pending-sales figures reflect RESO reporting changes.
Under $250K — Entry-Level & Townhomes
Highest demand from first-time buyers; the $150K-$250K range holds 3.3-3.4 months of supply and moves in roughly 83 days — the fastest lane in the market. SDHDA-eligible buyers dominate.
$250K-$350K — The Core Market
The largest volume segment: 1,588 rolling pending sales. This is where Tea, established west Sioux Falls, and entry-level Harrisburg compete. The $250K-$300K sub-tier is the tightest in the entire market at 3.0 months supply (-42% YoY), and $300K-$350K sellers capture 99.0% of original list — the firmest pricing anywhere.
$350K-$500K — The Surge Tier
Demand up +13.3% to +24.9% YoY in rolling 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. The $450K-$500K sub-tier sits at 3.1 months supply — down 55% from a year ago.
$500K-$1M — Premium
The growth story of 2026: $500K-$600K up +29.7% and $700K-$800K up +56.8% — the strongest gain in the entire market. DOM stretches to 96-129 days and supply loosens to 4.3-11.6 months depending on exact price point. Updated finishes, professional staging, and accurate pricing matter more here.
$1M+ — Luxury
The $1M-$1.5M tier posted +28.3% in rolling pending sales and $1.5M-$2M rose +53.8% (from a small base). But supply above $1.5M actually loosened — 15.5 months in the $1.5M-$2M range — and above $900K sellers receive 94.4-95.9% of original list. 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 August): RASE median $335,000 YTD (+3.1%), Metro YTD $344,000 (+3.0%). DOM 88-93 YTD and falling — August was the second straight month homes sold faster than a year earlier (city -12.6%, region -18.1%). Pct of list 97.2-97.7% YTD, with August ratios UP year-over-year. Closings -0.4% to -1.9% YTD; inventory down 24.3%. August rolling-12-month median $330,000 (+2.2%).
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 that tightened all year until, in July and again in August, homes sold faster than the year before even as more sellers came to market.
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 (+17-27% YoY rolling). 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 tight supply — and existing homes now move in roughly 81 days, half the new-construction timeline.
SE Sioux Falls / Copper Creek — Newest Construction
Active new construction. New builds average 161 DOM vs. 81 for existing — more room to negotiate. But new construction median is $386,900, 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 6.4 months supply — the most balanced segment.
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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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