Is Wallace, SD 57272 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Wallace is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list0%Share of sales, last 3 months

Median sale-to-list90.9%Sold price ÷ list price

Median days on market20Listing to accepted offer

Median price per sq ft$58

The Wallace housing market right now

In the three months ending August 31, 2026, 0% of homes in Wallace, SD 57272 sold above their list price and the typical home went under contract in 20 days. With only 1 sale, these figures can swing a lot from month to month.

The median sale price was $99,957, or about $58 per square foot.

Nearby, Watertown 57201 (22% sold over asking) is even more competitive.

About the area

Codington County, SD

Population	201
Median income	$83,750
Average income	$84,172
Median home value	$89,200
Median rent	$584/month
Owner-occupied	40% of homes
Median year built	1938

Natural hazard riskWinter storms (very high), tornadoes (relatively high), hail (relatively high)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 57272; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 57272

Prefilled for 57272Can I win this house?Multiple-offer likelihood for a listing Prefilled for 57272Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Florence 57235 — /sq ft Henry 57243Balanced $108 /sq ft South Shore 57263 — /sq ft Watertown 57201Seller’s market $144 /sq ft Browse all markets →

Where Wallace is

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Questions about Wallace real estate

How fast do homes sell in Wallace?

The typical home went under contract in 20 days in the latest three months.

Do homes in Wallace sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 90.9% of the list price.

What are property taxes in Wallace?

About 0.97% of a home’s value a year in Codington County, or roughly $3,880 on a $400,000 home.

What is the median home price in Wallace?

The median sale price was $99,957 in the three months ending August 31, 2026, about $58 per square foot.

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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 Codington County property taxes Codington County loan limits Closing costs in South Dakota Hottest ZIP codes in South Dakota

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