May 7, 2025

The Sioux Falls housing market saw an uptick of activity in April and appears to be countering national trends.

New listings increased 6.2 percent year over year while closed sales were up 2.1 percent, according to the Realtor Association of  the Sioux Empire.

Nationwide, existing-home sales dropped 5.9 percent month over month and 2.4 percent year over year, according to the National Association of Realtors, which noted that “affordability challenges and economic uncertainty weigh on market activity.”

In Sioux Falls, the median price of a home sold was $318,000, up 1 percent from last year, while the average price was $360,337, essentially flat compared to last year.

Sellers received on average 98.1 percent of original list price, down from 99 percent a year ago.

The average home spent 88 days on the market before selling, or four days more than last year.

The market ended April with a 4.1-month supply of homes, down 8.2 percent from April 2024.

The price range that sold the fastest was $150,000 to $200,000 at 75 days, while homes priced at $900,000 to $1 million took the longest at 127 days.