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Sioux Falls, SD 57104 Real Estate Market Report

ZIP Code: 57104
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.


Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Analysis Window
90 Days
Total Properties Analyzed
55
Active Listings
47
Sold Properties
8

Market Metrics

Median Listing Price
$225,950
Median Sold Price
$259,000
Median Price per Sqft
$205/sqft

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.


Rental Market

Median Market Rent
$875

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.


Property Taxes

Property Tax Rate
1.19%

Liquidity & Velocity

Median Days on Market
275
Sale-to-List Ratio
100.0%

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.


Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Price YoY Trend
up
Market Temperature
neutral
Rent YoY Trend
up
Interest Rate Pressure
moderate

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Sioux Falls, SD 57104 are approximately 6.28%, reflecting the prevailing market environment for property owners in this area.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.


Key Findings

  1. The primary indicator of market value is the median sold price of 259,000, which—together with a up price year-over-year trend—points to slight price appreciation driven by recent transactions rather than listing asks.

  2. There is a notable spread between the median listing price of 225,950 and the median sold price of 259,000, which may indicate pricing friction where seller expectations differ from realized transaction prices; monitor for continued balanced negotiation outcomes.

  3. Liquidity appears muted: the median days on market of 275 suggests slower sales velocity and that properties are taking considerably longer to convert from listing to closed sale, even as price trends are modestly positive.

  4. Inventory conditions in the analyzed sample point to relatively constrained active supply, which, combined with a neutral market temperature, appears to support a balanced buyer-seller dynamic with a slight edge toward sellers on pricing.

  5. Financing remains a material factor for buyers: current 30-year fixed mortgage rates of 6.28% and moderate interest rate pressure may temper buyer purchasing power and could sustain longer listing periods until rate relief or buyer adaptation occurs.


Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Recent Transactions

504 N Grange Ave, Sioux Falls, SD 57104
Top Sale

Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.

3 beds
2 baths
1,060 sqft
$450,000
Mar 1, 2026
$425/sqft/sqft
1709 E 71st St N, Sioux Falls, SD 57104
Premium

Sold above market average

2 beds
2 baths
1,064 sqft
$325,000
Mar 1, 2026
$305/sqft/sqft
109 days on market
5800 N Gold Nugget Ave, Sioux Falls, SD 57104
Premium

Sold above market average

2 beds
2 baths
1,012 sqft
$307,000
Mar 1, 2026
$303/sqft/sqft
284 days on market
609 S 2nd Ave, Sioux Falls, SD 57104
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

3 beds
2 baths
2,112 sqft
$275,000
Mar 1, 2026
$130/sqft/sqft
168 days on market
215 E 14th St, Sioux Falls, SD 57104
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

4 beds
2 baths
1,604 sqft
$275,000
Mar 1, 2026
$171/sqft/sqft
168 days on market
803 S West Ave, Sioux Falls, SD 57104
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

2 beds
2 baths
1,074 sqft
$266,000
Feb 1, 2026
$248/sqft/sqft
931 days on market
707 S Hawthorne Ave, Sioux Falls, SD 57104
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

3 beds
2 baths
832 sqft
$260,000
Mar 1, 2026
$313/sqft/sqft
1162 days on market
2009 E 30th St N, Sioux Falls, SD 57104
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

3 beds
2 baths
1,200 sqft
$246,000
Feb 1, 2026
$205/sqft/sqft

Sioux Falls, SD 57104 Real Estate Market Report

ZIP Code: 57104
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.


Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Analysis Window
90 Days
Total Properties Analyzed
9
Active Listings
1
Sold Properties
8

Market Metrics

Median Listing Price
$249,900
Median Sold Price
$753,300
Median Price per Sqft
$259/sqft

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.


Rental Market

Median Market Rent
$775

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.


Property Taxes

Property Tax Rate
1.31%

Liquidity & Velocity

Liquidity metrics unavailable due to insufficient data quality.


Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Price YoY Trend
up
Market Temperature
neutral
Rent YoY Trend
up
Interest Rate Pressure
moderate

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Sioux Falls, SD 57104 are approximately 6.28%, reflecting the prevailing market environment for property owners in this area.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.


Key Findings

  1. The neighborhood's primary indicator, the median sold price, is not provided in the available metrics — this absence may reflect limited recent transactions in the reported sample or data reporting gaps rather than a definitive market valuation.

  2. The price year-over-year trend: up indicates appreciation pressure on sold values; up suggests sellers can expect modestly stronger pricing compared with the prior year.

  3. Sample-level supply appears as a relatively constrained active supply, while the market temperature: neutral points to a balanced buyer-seller dynamic with limited pricing friction; neutral market temperature suggests neither pronounced buyers' nor sellers' conditions.

  4. Rental fundamentals show a median market rent: $775 with a rent year-over-year trend: up, and financing conditions reflect interest rate pressure: moderate—current 30-year fixed mortgage rates are approximately 6.28%, which may temper buyer affordability despite rising rents; moderate interest rate pressure suggests financing is a noticeable but not extreme headwind.


Notable Properties

The following 3 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Recent Transactions

350 S Main Ave Apt 506, Sioux Falls, SD 57104
Top Sale

Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.

2 beds
2 baths
1,758 sqft
$1,125,000
Oct 1, 2025
$640/sqft/sqft
218 E 14th St # 12, Sioux Falls, SD 57104
Market Benchmark

Sold at market average

2 beds
2 baths
1,509 sqft
$390,000
Jul 1, 2025
$258/sqft/sqft
218 E 14th St # 12, Sioux Falls, SD 57104
Market Benchmark

Sold at market average

2 beds
2 baths
1,509 sqft
$390,000
Jul 1, 2025
$258/sqft/sqft

Investment Analysis

Compare rental income potential against ownership costs and benchmark against market averages.

Rent vs Cost to Own

Monthly rental income vs estimated ownership cost

-$740/mo
57104 Avg Rent
57104 Cost to Own
Rent$875
Own$1,615

20% down, 6.3% rate, 1.2% tax

Short-Term Rental

Avg nightly rate and occupancy for this ZIP

57104 Avg nightly rate
57104 Avg occupancy (days/year)
Nightly rate$109/night
Occupancy154 of 365 days

Data Sources

Real estate market data & public records, and GemHaus® proprietary models.

Report generated: 5/1/2026

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