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Is Lake Andes, SD 57356 a buyer’s or seller’s market?

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

Lake Andes is a seller’s market. With about 1.6 months of supply and 0% 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.

Months of supply1.6Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list98.1%Sold price ÷ list price
Median days on market7Listing to accepted offer
Median price per sq ft$126

The Lake Andes housing market right now

In the three months ending August 31, 2026, 0% of homes in Lake Andes, SD 57356 sold above their list price, the typical home went under contract in 7 days and there were 1.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 4 sales, these figures can swing a lot from month to month.

Run the numbers for 57356

Prefilled for 57356Can I win this house?Multiple-offer likelihood for a listing Prefilled for 57356Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Dante 57329 — /sq ftPickstown 57367Buyer’s market $224 /sq ftPlatte 57369 — /sq ftWagner 57380Buyer’s market $144 /sq ft Browse all markets →

Towns like Lake Andes nearby

Find towns like Lake Andes in other states →
Springfield, SD57062 · 34 miles away83% similar6 min longer commute Wagner, SD57380 · 11 miles away82% similarpricier homes ($44K more) · larger Parkston, SD57366 · 32 miles away75% similarpricier homes ($71K more) Scotland, SD57059 · 39 miles away75% similarsmaller · older homes

Where Lake Andes is

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Questions about Lake Andes real estate

Is Lake Andes a buyer’s or seller’s market?

A seller’s market: there were 1.6 months of supply in Lake Andes, SD 57356 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 Lake Andes?

The typical home went under contract in 7 days in the latest three months.

Do homes in Lake Andes sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 98.1% of the list price.

What are property taxes in Lake Andes?

About 1.10% of a home’s value a year in Charles Mix County, or roughly $4,400 on a $400,000 home.

What is the median home price in Lake Andes?

The median sale price was $94,959 in the three months ending August 31, 2026, about $126 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 Charles Mix County property taxesCharles Mix County loan limitsClosing costs in South DakotaHottest 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