Is Pennington County, SD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Pennington County was a Neutral Market.
Housing Prices in Pennington County, SD
How much do homes in Pennington County, SD cost?
Median Sold Price
$355,000
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Pennington County was $355,000 in February 2024, down 0.2% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140K | $175K | +25.0% |
2 Bedrooms | $299.9K | $235K | -21.6% |
3 Bedrooms | $341.5K | $325K | -4.8% |
4 Bedrooms | $362.5K | $390K | +7.6% |
5+ Bedrooms | $440K | $558K | +26.8% |
Summary: Pennington County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 21.6%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 26.8%.
Median Sold Price Compared To Nearby Counties
Meade County | $350K | $403.3K | +15.2% |
Pennington County | $355.8K | $355K | -0.2% |
Custer County | $575K | $495K | -13.9% |
Housing Supply in Pennington County, SD
How many homes are available in Pennington County, SD?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
315 | 435 | +38.1% |
Summary: The Pennington County real estate market had 435 homes for sale in February 2024, a 38.1% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 6 | +100.0% |
2 Bedrooms | 52 | 75 | +44.2% |
3 Bedrooms | 112 | 150 | +33.9% |
4 Bedrooms | 113 | 155 | +37.2% |
5+ Bedrooms | 35 | 49 | +40.0% |
Summary: The Pennington County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 44.2%, 3 bedroom homes increased by 33.9%, 4 bedroom homes increased by 37.2%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
20 | 24 | +20.0% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Pennington County in February 2024, up by 20.0% month-over-month. Of the 23 sold homes, 70% were sold under asking, 9% were sold at asking, and 22% were sold over asking.
Days on Market for Pennington County, SD
We’re sorry, we don't have information for this market at the moment