Sioux Falls, SD 57108 Real Estate Market Report

ZIP Code: 57108
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The real estate market in Sioux Falls, SD (ZIP: 57108) is currently characterized by a median listing price of $505,000, indicating a stable pricing environment. Although specific historical sold price change data is not available, the market has shown a year-over-year price trend that is up, suggesting a positive trajectory in property values. The median days on market stands at 83, reflecting a slower sales velocity, which may indicate a shift towards a more balanced market as inventory levels increase.

With elevated inventory levels relative to sales activity, the market appears to be leaning towards a buyer's market, despite sellers still benefiting from equity. The median market rent is recorded at $1,540, which, coupled with moderate interest rate pressure, may influence buyer purchasing power positively. Overall, the market temperature is described as neutral, indicating a balanced state with manageable price appreciation and moderate transaction activity.

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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.

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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.

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Rental Market

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Property Taxes

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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.

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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.

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Key Findings

1. The median listing price of $505,000 suggests a stable pricing environment in the current market.

2. With 83 days on market, the sales velocity appears slower, indicating potential pricing friction for sellers.

3. The market is experiencing elevated inventory levels, which may lead to a more competitive environment for buyers.

4. The median market rent of $1,540 reflects ongoing rental demand, although the year-over-year rent trend is down.

5. Overall market conditions are neutral, suggesting a balanced state with manageable price appreciation.

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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.