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Is Elk Point, SD 57025 a buyer’s or seller’s market?

Buyer’s market 3 months ending August 31, 2026 · Source: Redfin

Elk Point is a buyer’s market. With about 8 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply8Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list96.5%Sold price ÷ list price
Median days on market10Listing to accepted offer
Median price per sq ft$179▲ +49.7% vs. last year

The Elk Point housing market right now

In the three months ending August 31, 2026, 0% of homes in Elk Point, SD 57025 sold above their list price, the typical home went under contract in 10 days and there were 8 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 4 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking fell from 14%, homes sold faster (18 days then) and the median sale price rose 37% to $334,855. Overall, Elk Point is less competitive than a year ago, which gives buyers more room.

Nearby, Jefferson 57038 (17% sold over asking) and North Sioux City 57049 (13% sold over asking) are even more competitive.

Run the numbers for 57025

Prefilled for 57025Can I win this house?Multiple-offer likelihood for a listing Prefilled for 57025Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Alcester 57001Seller’s market $166 /sq ftJefferson 57038Seller’s market $185 /sq ftNorth Sioux City 57049Balanced $174 /sq ft Browse all markets →

Towns like Elk Point nearby

Find towns like Elk Point in other states →
Lawton, IA51030 · 29 miles away86% similarpricier homes ($33K more) · smaller Alton, IA51003 · 38 miles away85% similarsmaller · older homes Sioux City, IA51108 · 21 miles away84% similarcheaper homes ($68K less) · larger Beresford, SD57004 · 25 miles away83% similarpricier homes ($26K more) · 8 min longer commute

Where Elk Point is

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Questions about Elk Point real estate

Is Elk Point a buyer’s or seller’s market?

A buyer’s market: there were 8 months of supply in Elk Point, SD 57025 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.

How fast do homes sell in Elk Point?

The typical home went under contract in 10 days in the latest three months.

Do homes in Elk Point sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 96.5% of the list price.

What are property taxes in Elk Point?

About 1.10% of a home’s value a year in Union County, or roughly $4,400 on a $400,000 home.

What is the median home price in Elk Point?

The median sale price was $334,855 in the three months ending August 31, 2026, about $179 per square foot.

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