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.
Market Metrics
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
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
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
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.
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
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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.
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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.
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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.
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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.
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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
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
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.
Market Metrics
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
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
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.
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
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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.
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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.
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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.
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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
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold at market average
Sold at market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.3% rate, 1.2% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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