The South Dakota Real Estate Market: 2024 Trends

I want to... 🏠 Sell my home | 🗝️ Buy a home | 🗺️ Find a new place to live in South Dakota

💡 Key South Dakota housing market facts

Data PointValueRankCompared to National Avg
Typical Home Value $302,826[1]#31 of 50 states17.4% lower
Median Listing Price $379,000[2]#31 of 50 states13.4% lower
Median Sale Price $329,000[3]#34 of 50 states19.4% lower
30 Year Mortgage Rate 6.96%[4]#21 of 50 states0.2% lower
Median Days on Market 57[5]#36 of 50 states14.2% longer
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🗺️ Buying a house in the South Dakota real estate market

South Dakota has an affordability score of 5.5, meaning it takes 5.5 years of the median household income ($59,896) to afford South Dakota's median home sale price ($329,000). Because of this, we rank South Dakota as the 21st most affordable state for buyers based strictly on prices compared to income.

Data PointValueRankCompared to National Avg
Median Sale Price $329,000[6]#34 of 50 states19.4% lower
30 Year Mortgage Rate 6.96%[7]#21 of 50 states0.2% lower
Median Household Income $59,896[8]#31 of 50 states7.2% lower
Affordability Ratio 5.5#21 of 50 states12.1% lower
Buyers Agent Commission 2.66%[9]#23 of 50 states0.6% lower
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Resources for South Dakota home buyers

🗺️ Selling a house in the South Dakota real estate market

According to our detailed survey of South Dakota real estate agents, listing agents (those representing the seller) charge an average commission in South Dakota of 2.83%, which is the 24th lowest in the United States. Buyers' agents charge an average commission of 2.66%, which is the 23rd lowest in the United States.

Data PointValueRankCompared to National Avg
Median Listing Price $379,000[10]#31 of 50 states13.4% lower
Median Sale Price $329,000[11]#34 of 50 states19.4% lower
Median Days on Market 57[12]#36 of 50 states14.2% longer
Buyer's Agent Commission 2.66%[13]#23 of 50 states0.6% lower
Listing Agent Commission 2.83%[14]#24 of 50 states1% lower
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Resources for South Dakota home sellers

Moving to South Dakota

According to our recent moving trends survey[15], 6% of Americans indicated that they would choose to move to South Dakota if money were no object.

Here's how South Dakota cities rank in a number of our research studies.

StudyBest South Dakota cityRank
Best Pizza Cities[16]No ranking South Dakota citiesNo ranking South Dakota cities
Best Coffee Cities[17]No ranking South Dakota citiesNo ranking South Dakota cities
Best LGBTQ Cities[18]No ranking South Dakota citiesNo ranking South Dakota cities
Best Bike Cities[19]No ranking South Dakota citiesNo ranking South Dakota cities
Best Commuter Cities[20]No ranking South Dakota citiesNo ranking South Dakota cities
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Article Sources

[1] Zillow – "Zillow Home Value Index". Updated April 30, 2024.
[2] Realtor.com – "Realtor.com Data Library". Updated March 2024.
[3] Redfin – "Redfin Data Center". Updated March 2024.
[4] Bankrate – "Bankrate". Updated May 2024.
[5] Realtor.com – "Realtor.com Data Library". Updated March 2024.
[6] Redfin – "Redfin Data Center". Updated March 2024.
[7] Bankrate – "Bankrate". Updated May 2024.
[8] US Census – "US Census, 2020 American Community Survey". Updated 2020.
[9] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated May 2024.
[10] Realtor.com – "Realtor.com Data Library". Updated March 2024.
[11] Redfin – "Redfin Data Center". Updated March 2024.
[12] Realtor.com – "Realtor.com Data Library". Updated March 2024.
[13] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated May 2024.
[14] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated May 2024.
[15] Home Bay – "Half of Americans Are Surprised by How Much It Costs to Move". Updated February 26, 2024.
[16] Clever Real Estate – "The 15+ Best Pizza Cities in America". Updated February 12, 2024.
[17] Clever Real Estate – "The Best (and Worst) Coffee Cities in America". Updated January 12, 2024.
[19] Clever Real Estate – "The Most Bike-Friendly Cities in the U.S.". Updated July 17, 2023.
[20] Clever Real Estate – "The Best (and Worst) Cities for Commuters". Updated September 21, 2023.

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