Is De Smet, SD 57231 a buyer’s or seller’s market?
De Smet is a buyer’s market. With about 28.8 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The De Smet housing market right now
In the three months ending August 31, 2026, 0% of homes in De Smet, SD 57231 sold above their list price, the typical home went under contract in 125 days and there were 28.8 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 1 sale, these figures can swing a lot from month to month.
Run the numbers for 57231
Nearby markets
Arlington 57212 — /sq ftLake Preston 57249 — /sq ftOldham 57051 $131 /sq ft Browse all markets →Towns like De Smet nearby
Find towns like De Smet in other states →Where De Smet is
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Questions about De Smet real estate
Is De Smet a buyer’s or seller’s market?
A buyer’s market: there were 28.8 months of supply in De Smet, SD 57231 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 De Smet?
The typical home went under contract in 125 days in the latest three months.
Do homes in De Smet sell over asking?
0% of homes sold above their original list price.
What are property taxes in De Smet?
About 1.01% of a home’s value a year in Kingsbury County, or roughly $4,040 on a $400,000 home.
What is the median home price in De Smet?
The median sale price was $398,827 in the three months ending August 31, 2026, about $125 per square foot.
Local agents
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More tools for 57231
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology