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Sioux Falls, SD 57108 Real Estate Market Report

ZIP Code: 57108
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
12 Months
Total Properties Analyzed
82
Active Listings
81
Sold Properties
1

Market Metrics

Median Listing Price
$385,000
Median Sold Price
$245,000
Median Price per Sqft
$208/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
$1,300

Property Taxes

Property Tax Rate
1.21%

Liquidity & Velocity

Median Days on Market
56

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 are 6.25% compared to the 5.95% average observed earlier in 2026, indicating property owners in this market currently hold more favorable financing terms.

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


Key Findings

  1. median sold price (unavailable) is the primary indicator of neighborhood market value and recent transaction activity, but a reliable median sold price cannot be established because the analyzed sample contains an extremely limited number of completed sales, which may indicate insufficient recent transaction data to define a representative sale benchmark; contextual caution.

  2. median listing price $385,000 suggests seller expectations that are higher than what a robust sold-price signal can confirm right now; combined with median days on market 56, this appears to reflect slower sales velocity and potential pricing friction between asking and completed transaction levels.

  3. The analyzed sample shows elevated inventory relative to sales activity, which may indicate excess supply and contributes to the observed slower transaction pace; given the market temperature is neutral, this relationship suggests a balanced-to-slightly-buyer-favorable environment rather than a sharply one-sided market — balanced.

  4. Local demand signals remain constructive for landlords and owners: median market rent $1,300 and a rising rent trend (up) support rental stability, while interest rate dynamics (current 30-year fixed at 6.25% versus 5.95% earlier in 2026) and interest rate pressure moderate suggest financing conditions are a modest headwind for some buyers, so market participants should price listings with patience and expect measured negotiation windows.


Notable Properties

The following 1 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

1702 E 57th St, Sioux Falls, SD 57108
Top Sale

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

2 beds
2 baths
1,330 sqft
$250,000
Oct 1, 2025
$188/sqft/sqft
346 days on market

Sioux Falls, SD 57108 Real Estate Market Report

ZIP Code: 57108
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
12 Months
Total Properties Analyzed
3
Active Listings
2
Sold Properties
1

Market Metrics

Median Listing Price
$222,450
Median Sold Price
$168,000
Median Price per Sqft
$159/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
$1,225

Property Taxes

Property Tax Rate
1.28%

Liquidity & Velocity

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 are 6.25% compared to the 5.95% average observed earlier in 2026, indicating property owners in this market currently hold more favorable financing terms.

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 market indicator, the median sold price, is 168,000, and recent transaction activity aligns with a up price year-over-year trend, suggesting modest upward pressure on realized values.

  2. Liquidity appears measured: the sample indicates a relatively constrained active supply that may support pricing stability and neutral market temperature conditions rather than a strongly one-sided market.

  3. Pricing context shows a median price per square foot of 159, which, together with a median market rent of 1,225, supports steady rental demand while the rent trend is up, indicating continued investor and landlord revenue resilience.

  4. Financing conditions show interest rate dynamics with a current local 30-year fixed rate of 6.25% versus an earlier 2026 average of 5.95%; combined with moderate interest rate pressure, this suggests buyers face slightly higher financing costs than earlier in the year, which may temper rapid price acceleration.


Notable Properties

The following 6 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

1104 W 57th St Apt 306, Sioux Falls, SD 57108
Top Sale

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

2 beds
2 baths
1,054 sqft
$175,000
Aug 1, 2025
$166/sqft/sqft
1104 W 57th St Apt 203, Sioux Falls, SD 57108
Market Benchmark

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

2 beds
2 baths
1,160 sqft
$153,000
Mar 1, 2026
$132/sqft/sqft
1104 W 57th St Apt 301, Sioux Falls, SD 57108
Market Benchmark

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

2 beds
2 baths
1,054 sqft
$150,000
Sep 1, 2025
$142/sqft/sqft
354 days on market
1108 W 57th St Apt 205, Sioux Falls, SD 57108
Market Benchmark

Sold at market average

1 beds
1 baths
880 sqft
$137,500
Sep 1, 2025
$156/sqft/sqft
1104 W 57th St Apt 204, Sioux Falls, SD 57108
Value

Sold below market average

1 beds
1 baths
880 sqft
$115,000
Aug 1, 2025
$131/sqft/sqft
1104 W 57th St Apt 204, Sioux Falls, SD 57108
Value

Sold below market average

1 beds
1 baths
880 sqft
$115,000
Aug 1, 2025
$131/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

-$233/mo
57108 Avg Rent
57108 Cost to Own
Rent$1,300
Own$1,533

20% down, 6.3% rate, 1.2% tax

Short-Term Rental

Avg nightly rate and occupancy for this ZIP

57108 Avg nightly rate
57108 Avg occupancy (days/year)
Nightly rate$137/night
Occupancy123 of 365 days

Data Sources

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

Report generated: 5/1/2026

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