Nov. 10, 2025

New listings for homes fell more than 15 percent year over year in Sioux Falls as sales prices dropped too.

In October, there were 427 new listings of homes for sale, according to the Realtor Association of the Sioux Empire, compared with 504 for the same time last year.

The city saw 247 closed sales, up slightly from 239 last year.

“Although mortgage rates have edged down, U.S. pending home sales were unchanged from the previous month, with contract activity remaining 0.9 percent lower than a year ago,” according to the National Association of Realtors.

“Contract signings increased both month over month and year over year in the Northeast and South, while the Midwest and West posted declines.”

In Sioux Falls, the average price of a home sold in October was $378,180, down 10.6 percent compared with a year ago, while the median price dropped 6 percent to $325,000.

The average home spent 82 days on the market before selling, which is five days more than last year.

Sellers received 97.2 percent of original list price, down from 98 percent last year.

For the 12-month period spanning November 2024 through October 2025, pending sales in the Sioux Falls region were up 16.1 percent overall. The price range with the largest gain in sales was  $1.5 million and above, with a 50 percent increase.

For the month, the price range that tended to sell the fastest was $200,000 to $250,000 at 80 days, while homes priced at $2 million and more sold the slowest at 224 days.

Sioux Falls ended the month with a 3.8-month supply of homes on the market, down from 5.5 months for the same time last year.