Is Letcher, SD 57359 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Letcher 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-list100%Sold price ÷ list price

Median days on market7Listing to accepted offer

Median price per sq ft$149

The Letcher housing market right now

In the three months ending August 31, 2026, 0% of homes in Letcher, SD 57359 sold above their list price and the typical home went under contract in 7 days. With only 1 sale, these figures can swing a lot from month to month.

About the area

Sanborn County, SD

Population	652
Median income	$106,818
Average income	$128,542
Median home value	$166,800
Median rent	$764/month
Owner-occupied	88% of homes
Median year built	1957

Natural hazard riskTornadoes (very high), winter storms (very high), wildfire (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 57359; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 57359

Prefilled for 57359Can I win this house?Multiple-offer likelihood for a listing Prefilled for 57359Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Woonsocket 57385Balanced $152 /sq ft Browse all markets →

Where Letcher is

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Questions about Letcher real estate

How fast do homes sell in Letcher?

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

Do homes in Letcher sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 100.0% of the list price.

What are property taxes in Letcher?

About 1.17% of a home’s value a year in Sanborn County, or roughly $4,680 on a $400,000 home.

What is the median home price in Letcher?

The median sale price was $124,946 in the three months ending August 31, 2026, about $149 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 Sanborn County property taxes Sanborn 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