Sioux Falls
market update.
Understanding the market is key to making smart real estate decisions. Here's what's happening in Sioux Falls right now.
September 2026 at a Glance
Compared with September 2025, the housing market in our area is tight and holding its value. The median sales price was $350,000, up 1.4% from a year earlier, and more homes closed than last September. Inventory was down 24.8% to 1,379 homes, months of supply sat at 3.9 (down from 5.9 a year ago), and homes averaged 86 days on market. In plain terms: fewer homes to choose from, prices slightly higher than last September, and a market that still favors well-priced listings.
RASE Region vs. Sioux Falls City Limits
It helps to be precise about what these numbers cover. They describe the RASE region, the broader Realtors of the Sioux Empire area, rather than Sioux Falls city limits alone. The region takes in Sioux Falls and the surrounding communities, so this is a wide view of the metro rather than a single city boundary. For comparison, the city of Sioux Falls posted a median sales price of $344,600 in September, close to the region's $350,000. Your specific street or neighborhood can look different from the regional average, which is where a personalized analysis comes in.
What This Means for Buyers
With nearly 25% less inventory than a year ago, there are fewer homes to choose from, so being ready matters: get pre-approved, know your must-haves, and be ready to act when the right home comes along. Prices are up modestly from last September, and the national average 30-year mortgage rate was about 7.4% in early October, up from 6.3% a year earlier, so a realistic budget and a current pre-approval do the heavy lifting. My construction background helps me identify visible concerns and useful questions during a showing, and a professional home inspection remains an important part of evaluating any property.
What This Means for Sellers
Inventory down 24.8% from a year ago means less competition from other listings than you faced last September, which is a real advantage. At the same time, homes are averaging 86 days on market, so pricing strategy still matters: we will price your home against current comparables to attract serious buyers while protecting your equity. My construction background helps us tackle the right improvements before you list, so your home shows as well as it can.
Want a personalized market analysis?
These numbers tell the big picture. For your specific home or neighborhood, I can provide a detailed market analysis tailored to your situation.
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