Is Mitchell, SD 57301 a buyer’s or seller’s market?
Mitchell is a seller’s market. With about 2.6 months of supply and 11% 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 41% of U.S. ZIP codes, and #16 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 Mitchell housing market right now
In the three months ending August 31, 2026, 11% of homes in Mitchell, SD 57301 sold above their list price, the typical home went under contract in 22 days and there were 2.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 64 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (11% then), homes sold faster (32 days then) and the median sale price fell 3% to $264,885. Overall, Mitchell is more competitive than a year ago, so tougher for buyers.
On our competition score, Mitchell ranks #16 of 33 SD ZIP codes with enough sales (score 41 out of 100).
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Questions about Mitchell real estate
Is Mitchell a buyer’s or seller’s market?
A seller’s market: there were 2.6 months of supply in Mitchell, SD 57301 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 Mitchell?
The typical home went under contract in 22 days in the latest three months.
Do homes in Mitchell sell over asking?
11% 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 Mitchell?
About 1.23% of a home’s value a year in Davison County, or roughly $4,920 on a $400,000 home.
What is the median home price in Mitchell?
The median sale price was $264,885 in the three months ending August 31, 2026, about $155 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