Feb. 9, 2026

Overall home sales activity slowed in January in Sioux Falls, but some large transactions pushed the average price up.

The average price of a home sold last month was more than $398,000 — up 21.2 percent compared with January 2025, according to the Realtor Association of the Sioux Empire Inc.

The median price was $331,650, an increase of 7.4 percent.

Overall closed sales totaled 122 houses and dropped 6.2 percent on a year-over-year basis.

New listings dropped 13.1 percent.

Nationwide, existing-home sales climbed 1.4 percent compared with a year ago to a seasonally adjusted rate of 4.35 million homes, which is the strongest pace in nearly three years, according to the National Association of Realtors

” Lower mortgage rates and slower home price growth helped spur buyer activity, and sales increased month over month in every region,” according to an analysis included with the report.

The average house in Sioux Falls spent 96 days on the market before selling, an increase of 12 days compared with the same time in 2025.

The market has a 3.1-month supply of homes, down 34 percent year over year.