Dec. 8, 2025

Housing activity in Sioux Falls slowed noticeably in November, with double-digit drops in both new listings and closed sales.

Home sales fell 23.5 percent year over year, according to the Realtor Association of the Sioux Empire.

New listings dropped 18.6 percent, with 262 new homes coming on the market compared with 322 in November 2024.

“U.S. sales of existing homes rose 1.2 percent from the previous month to a seasonally adjusted annual rate of 4.1 million, according to the National Association of Realtors, as buyers took advantage of lower mortgage rates this fall,” according to an analysis included with the report.

“Sales increased in the Midwest and South, held steady in the Northeast and edged down in the West.”

In Sioux Falls, the average sales price dropped to $371,756, down 1.2 percent year over year, while the median price increased 3.7 percent to $326,500.

The average home spent more than two weeks longer on the market before selling — 88 days versus 73 last year.

Sellers received on average 96.5 percent of original list price, down from 98.7 percent.

The market ended the month with a 3.6-month supply of homes, down 29.4 percent from last year.