March 9, 2026

The average home sold in Sioux Falls in February cost more than last year and stayed on the market longer.

The average price shot up 15.5 percent to $398,290, according to a monthly report from the Realtor Association of the Sioux Empire.

The median sales price rose 5.1 percent to $336,250.

The overall market was sluggish, with closed sales down 18 percent on a year-over-year basis while new listings were down almost 3 percent.

Nationwide, home sales declined 8.4 percent year over year while prices rose about 1 percent, according to the National Association of Realtors.

“Home prices have continued to rise across much of the country in part due to low supply, which remains below pre-pandemic levels,” according to an analysis included with the report.

In Sioux Falls, the average home spent 105 days on the market before selling, 10 more days than the same time last year. The price range that tended to sell the quickest was $200,000 to $250,000 at 81 days; the price range that tended to sell the slowest was $2 million and above at 233 days.

Sellers received on average 97.5 percent of original list price, on par with a year ago.

The market ended the month with lower inventory — a three-month supply of homes for sale compared with a 4.8-month supply last year.