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.
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
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 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
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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.
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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.
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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.
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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
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
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.
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
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 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
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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.
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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.
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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.
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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
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold at market average
Sold below market average
Sold below 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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