Is Sioux Falls, SD 57108 a buyer’s or seller’s market?
Sioux Falls is a seller’s market. With about 3.6 months of supply and 14% 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.
More competitive than 48% of U.S. ZIP codes, and #14 of 33 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Sioux Falls housing market right now
In the three months ending August 31, 2026, 14% of homes in Sioux Falls, SD 57108 sold above their list price, the typical home went under contract in 29 days and there were 3.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 157 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 12%, homes sold faster (39 days then) and the median sale price rose 9% to $414,721. Overall, Sioux Falls is more competitive than a year ago, so tougher for buyers.
Within Lincoln County, homes here sell more slowly than in 57% of the county’s ZIP codes, and sell more often over asking than in 57%. On our competition score, Sioux Falls ranks #14 of 33 SD ZIP codes with enough sales (score 47 out of 100).
Nearby, buyers who want less competition could look at Hudson 57034 (0% sold over asking) or Beresford 57004 (0% sold over asking), while Worthing 57077 (50% sold over asking) and Lennox 57039 (22% sold over asking) are even more competitive.
Run the numbers for 57108
Nearby markets
Beresford 57004Seller’s market $168 /sq ftCanton 57013Buyer’s market $131 /sq ftFairview 57027 — /sq ftHarrisburg 57032Balanced $200 /sq ft Browse all markets →Towns like Sioux Falls nearby
Find towns like Sioux Falls in other states →Where Sioux Falls is
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Questions about Sioux Falls real estate
Is Sioux Falls a buyer’s or seller’s market?
A seller’s market: there were 3.6 months of supply in Sioux Falls, SD 57108 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 Sioux Falls?
The typical home went under contract in 29 days in the latest three months.
Do homes in Sioux Falls sell over asking?
14% of homes sold above their original list price, and the typical sale closed at 99.0% of the list price.
What are property taxes in Sioux Falls?
About 1.15% of a home’s value a year in Lincoln County, or roughly $4,600 on a $400,000 home.
What is the median home price in Sioux Falls?
The median sale price was $414,721 in the three months ending August 31, 2026, about $195 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