Sioux Falls, SD 57104 Real Estate Market Report

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.

Market Metrics

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

Property Taxes

Liquidity & Velocity

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

Key Findings

1. The primary market indicator, the median sold price, is 166,300, which serves as the representative recent sale level and suggests stable transaction pricing when viewed alongside listing expectations and broader trends.
2. There is a meaningful gap between the median listing price (225,000) and the median sold price (166,300), which may indicate pricing friction or seller aspirational pricing relative to completed transactions; this dynamic appears in the context of neutral market balance and slower sales velocity.
3. Market velocity appears muted with a median days on market of 173, which suggests slower sales turnover and moderate liquidity rather than rapid bidding-driven closings.
4. Price fundamentals and rental demand are both trending upward—median price per square foot is 205 with a price year-over-year trend of up, and median market rent is 899 with rent year-over-year trend up; however, elevated interest rate pressure (elevated) may constrain near-term buyer activity and prolong time-to-sale.

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.