Is Sioux Falls, SD 57104 a buyer’s or seller’s market?

The Sioux Falls housing market right now

In the three months ending August 31, 2026, 28% of homes in Sioux Falls, SD 57104 sold above their list price, the typical home went under contract in 22 days and there were 3.3 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 66 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (26% then), homes sold faster (25 days then) and the median sale price fell 3% to $223,403. Overall, Sioux Falls is about as competitive as it was a year ago.

Within Minnehaha County, homes here sell faster than in 71% of the county’s ZIP codes, and sell more often over asking than in 79%. On our competition score, Sioux Falls ranks #4 of 33 SD ZIP codes with enough sales (score 58 out of 100).

Nearby, buyers who want less competition could look at Valley Springs 57068 (0% sold over asking) or Garretson 57030 (0% sold over asking), while Dell Rapids 57022 (54% sold over asking) and Colton 57018 (40% sold over asking) are even more competitive.