Is Pierre, SD 57501 a buyer’s or seller’s market?
Pierre is a balanced market. With about 5.5 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
More competitive than 29% of U.S. ZIP codes, and #28 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 Pierre housing market right now
In the three months ending August 31, 2026, 12% of homes in Pierre, SD 57501 sold above their list price, the typical home went under contract in 20 days and there were 5.5 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 35 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 14%, homes sold more slowly (13 days then) and the median sale price held steady to $279,329. Overall, Pierre is less competitive than a year ago, which gives buyers more room.
On our competition score, Pierre ranks #28 of 33 SD ZIP codes with enough sales (score 32 out of 100).
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Questions about Pierre real estate
Is Pierre a buyer’s or seller’s market?
A balanced market: there were 5.5 months of supply in Pierre, SD 57501 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 Pierre?
The typical home went under contract in 20 days in the latest three months.
Do homes in Pierre sell over asking?
12% 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 Pierre?
About 1.10% of a home’s value a year in Hughes County, or roughly $4,400 on a $400,000 home.
What is the median home price in Pierre?
The median sale price was $279,329 in the three months ending August 31, 2026, about $152 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