Is Sioux Falls, SD 57106 a buyer’s or seller’s market?

The Sioux Falls housing market right now

In the three months ending August 31, 2026, 17% of homes in Sioux Falls, SD 57106 sold above their list price, the typical home went under contract in 28 days and there were 2.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 212 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 21%, homes sold about as fast and the median sale price fell 3% to $329,857. Overall, Sioux Falls is less competitive than a year ago, which gives buyers more room.

Within Minnehaha County, homes here sell faster than in 64% of the county’s ZIP codes, and sell less often over asking than in 64%. On our competition score, Sioux Falls ranks #8 of 33 SD ZIP codes with enough sales (score 55 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.