Is Jefferson, SD 57038 a buyer’s or seller’s market?
Jefferson is a seller’s market. With about 2.7 months of supply and 17% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Jefferson housing market right now
In the three months ending August 31, 2026, 17% of homes in Jefferson, SD 57038 sold above their list price, the typical home went under contract in 19 days and there were 2.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 6 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 20%, homes sold more slowly (12 days then) and the median sale price rose 10% to $634,725. Overall, Jefferson is less competitive than a year ago, which gives buyers more room.
Nearby, buyers who want less competition could look at Elk Point 57025 (0% sold over asking) or Alcester 57001 (0% sold over asking).
Run the numbers for 57038
Nearby markets
Alcester 57001Seller’s market $166 /sq ftElk Point 57025Buyer’s market $179 /sq ftNorth Sioux City 57049Balanced $174 /sq ft Browse all markets →Towns like Jefferson nearby
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Questions about Jefferson real estate
Is Jefferson a buyer’s or seller’s market?
A seller’s market: there were 2.7 months of supply in Jefferson, SD 57038 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 Jefferson?
The typical home went under contract in 19 days in the latest three months.
Do homes in Jefferson sell over asking?
17% of homes sold above their original list price, and the typical sale closed at 99.2% of the list price.
What are property taxes in Jefferson?
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 Jefferson?
The median sale price was $634,725 in the three months ending August 31, 2026, about $185 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