Is Leola, SD 57456 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Leola 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-list110%Sold price ÷ list price

Median days on market163Listing to accepted offer

Median price per sq ft$31

The Leola housing market right now

In the three months ending August 31, 2026, 0% of homes in Leola, SD 57456 sold above their list price and the typical home went under contract in 163 days. With only 1 sale, these figures can swing a lot from month to month.

About the area

McPherson County, SD

Population	670
Median income	$75,833
Average income	$87,279
Median home value	$75,400
Median rent	$725/month
Owner-occupied	79% of homes
Median year built	1959

Natural hazard riskWinter storms (very high), hail (very high), tornadoes (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 57456; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 57456

Prefilled for 57456Can I win this house?Multiple-offer likelihood for a listing Prefilled for 57456Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Eureka 57437 $78 /sq ft Hosmer 57448 — /sq ft Browse all markets →

Where Leola is

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Questions about Leola real estate

How fast do homes sell in Leola?

The typical home went under contract in 163 days in the latest three months.

Do homes in Leola sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 110.0% of the list price.

What are property taxes in Leola?

About 1.55% of a home’s value a year in McPherson County, or roughly $6,200 on a $400,000 home.

What is the median home price in Leola?

The median sale price was $164,929 in the three months ending August 31, 2026, about $31 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