OfferBackedBuyer Tools

Is Castlewood, SD 57223 a buyer’s or seller’s market?

Buyer’s market 3 months ending August 31, 2026 · Source: Redfin

Castlewood is a buyer’s market. With about 8 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply8Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list96.5%Sold price ÷ list price
Median days on market78Listing to accepted offer
Median price per sq ft$315▲ +156.8% vs. last year

The Castlewood housing market right now

In the three months ending August 31, 2026, 0% of homes in Castlewood, SD 57223 sold above their list price, the typical home went under contract in 78 days and there were 8 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 2 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 faster (81 days then) and the median sale price rose 43% to $375,338. Overall, Castlewood is about as competitive as it was a year ago.

Within Hamlin County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county.

Nearby, Lake Norden 57248 (100% sold over asking) and Hayti 57241 (25% sold over asking) are even more competitive.

Run the numbers for 57223

Prefilled for 57223Can I win this house?Multiple-offer likelihood for a listing Prefilled for 57223Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Bryant 57221Buyer’s market $77 /sq ftHayti 57241Balanced $186 /sq ftHazel 57242 $135 /sq ftLake Norden 57248Buyer’s market $702 /sq ft Browse all markets →

Towns like Castlewood nearby

Find towns like Castlewood in other states →
Estelline, SD57234 · 11 miles away89% similarcheaper homes ($64K less) Arlington, SD57212 · 25 miles away77% similarolder residents Willow Lake, SD57278 · 33 miles away69% similaryounger residents · 5 min shorter commute Lake Norden, SD57248 · 13 miles away68% similarpricier homes ($57K more) · younger residents

Where Castlewood is

Loading map…

Questions about Castlewood real estate

Is Castlewood a buyer’s or seller’s market?

A buyer’s market: there were 8 months of supply in Castlewood, SD 57223 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 Castlewood?

The typical home went under contract in 78 days in the latest three months.

Do homes in Castlewood sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 96.5% of the list price.

What are property taxes in Castlewood?

About 1.11% of a home’s value a year in Hamlin County, or roughly $4,440 on a $400,000 home.

What is the median home price in Castlewood?

The median sale price was $375,338 in the three months ending August 31, 2026, about $315 per square foot.

Local agents

See all agents in 57223 →

No sponsored agents in 57223 yet. Are you an agent here? Put your name in front of local buyers.

Save this ZIP (free account)

More tools for 57223

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Hamlin County property taxesHamlin County loan limitsClosing costs in South DakotaHottest ZIP codes in South Dakota
Add this to your website

Free to use. Paste this code where you want the live widget to appear. It updates automatically. More widgets

Sizes itself to fit. If your site builder removes scripts, use “iframe only”.

Preview

Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology