Is Chester, SD 57016 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Chester is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list—Share of sales, last 3 months

Median sale-to-list—Sold price ÷ list price

Median days on market—Listing to accepted offer

Median price per sq ft—

The Chester housing market right now

There haven’t been enough recent sales here for a detailed summary yet.

About the area

Lake County, SD

Population	676
Median income	$95,815
Average income	$101,164
Median home value	$242,300
Median rent	$1,146/month
Owner-occupied	94% of homes
Median year built	1971

Natural hazard riskTornadoes (very high), winter storms (very high), hail (relatively high)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 57016; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 57016

Prefilled for 57016Can I win this house?Multiple-offer likelihood for a listing Prefilled for 57016Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Madison 57042Seller’s market $155 /sq ft Ramona 57054Seller’s market $110 /sq ft Rutland 57057 $172 /sq ft Wentworth 57075Buyer’s market $287 /sq ft Browse all markets →

Where Chester is

Loading map…

Questions about Chester real estate

What are property taxes in Chester?

About 1.03% of a home’s value a year in Lake County, or roughly $4,120 on a $400,000 home.

Local agents

See all agents in 57016 →

No sponsored agents in 57016 yet. Are you an agent here? Put your name in front of local buyers.

Save this ZIP (free account)

More tools for 57016

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Lake County property taxes Lake County loan limits Closing costs in South Dakota Hottest ZIP codes in South Dakota

Add this to your website

Free to use. Paste this code where you want the live widget to appear. It updates automatically. More widgets

JavaScript (recommended) iframe only

<div class="offerbacked-widget" data-widget="zip" data-zip="57016"><a href="https://offerbacked.com/market/57016">Chester, SD 57016 housing market data from OfferBacked</a></div>
<script async src="https://offerbacked.com/widget.js"></script>

Sizes itself to fit. If your site builder removes scripts, use “iframe only”.

Preview Dark version

Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology