Sept. 8, 2025

New listings and closed home sales posted double-digit declines in Sioux Falls last month.

Closed sales fell 18.6 percent in the city in August compared with the same time last year, according to the Realtor Association of the Sioux Empire Inc.

New listings were down 14.1 percent.

“Regionally, sales increased on a monthly basis in the West, South and Northeast but declined in the Midwest,” according to an analysis included with the report.

Prices pushed up, with the average price of homes sold reaching $398,268, an increase of 5.6 percent from the same time a year ago. The median price was up 8.1 percent to $346,450.

The average house is taking longer to sell — 82 days, which is five days longer than August 2024. Sellers received on average 97.3 percent of original list price, down from 98.5 percent last year.

The price range that’s selling fastest is $150,000 to $200,000 at 77 days, while the range selling the slowest is $800,000 to $900,000 at 126 days.

The market ended August with a 3.6-month supply of homes, down 28 percent from last year.