Is Montrose, SD 57048 a buyer’s or seller’s market?
Montrose is a seller’s market. With about 1.3 months of supply and 0% 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 Montrose housing market right now
In the three months ending August 31, 2026, 0% of homes in Montrose, SD 57048 sold above their list price, the typical home went under contract in 69 days and there were 1.3 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 5 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (48 days then) and the median sale price fell 41% to $399,827. Overall, Montrose is less competitive than a year ago, which gives buyers more room.
Within McCook County, homes here sell more slowly than in 80% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Run the numbers for 57048
Nearby markets
Bridgewater 57319Buyer’s market $102 /sq ftCanistota 57012Buyer’s market $199 /sq ftMonroe 57047Seller’s market $64 /sq ftSalem 57058Buyer’s market $132 /sq ft Browse all markets →Towns like Montrose nearby
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Questions about Montrose real estate
Is Montrose a buyer’s or seller’s market?
A seller’s market: there were 1.3 months of supply in Montrose, SD 57048 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 Montrose?
The typical home went under contract in 69 days in the latest three months.
Do homes in Montrose sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 95.7% of the list price.
What are property taxes in Montrose?
About 1.06% of a home’s value a year in McCook County, or roughly $4,240 on a $400,000 home.
What is the median home price in Montrose?
The median sale price was $399,827 in the three months ending August 31, 2026, about $172 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