Is 57701, SD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 57701 was a Seller's Market.
Key Takeaway
57701 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 57701, SD
How much do homes in 57701, SD cost?
Median Sold Price
$305,000
$178/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since March 2023.
Key Takeaway
The sold price of homes in 57701 has remained the same since last year.
Summary: The median home sold price in 57701 was $305,000 in March 2024, the same as last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $55K | $169.9K | +208.9% |
| 2 Bedrooms | $188K | $216.2K | +15.0% |
| 3 Bedrooms | $296.5K | $265K | -10.6% |
| 4 Bedrooms | $350K | $360K | +2.9% |
| 5+ Bedrooms | $355.5K | $517K | +45.4% |
Summary: 57701 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 208.9%, 2 bedroom homes increased by 15%, 3 bedroom homes decreased by 10.6%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 45.4%.
Median Sold Price Compared To Nearby Zip Codes
| 57702 | $363.7K | $449.3K | +23.5% |
| 57701 | $305K | $305K | 0.0% |
Housing Supply in 57701, SD
How many homes are available in 57701, SD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 110 | 142 | +29.1% |
Summary: The 57701 real estate market had 142 homes for sale in March 2024, a 29.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 27 | 37 | +37.0% |
| 3 Bedrooms | 34 | 45 | +32.4% |
| 4 Bedrooms | 35 | 43 | +22.9% |
| 5+ Bedrooms | 14 | 17 | +21.4% |
Summary: The 57701 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 37%, 3 bedroom homes increased by 32.4%, 4 bedroom homes increased by 22.9%, and 5+ bedroom homes increased by 21.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 16 | +45.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 57701, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in 57701 in March 2024, up by 45.5% month-over-month. Of the 15 sold homes, 47% were sold under asking, 27% were sold at asking, and 27% were sold over asking.
Days on Market for 57701, SD
We’re sorry, we don't have information for this market at the moment
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (IDX) program of Black Hills Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable But Not Guaranteed. Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability.