Is Hot Springs, SD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Hot Springs was a Buyer's Market.
Housing Prices in Hot Springs, SD
How much do homes in Hot Springs, SD cost?
Median Sold Price
$317,500
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Hot Springs was $317,500 in April 2024, up 44.3% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $115K | $230K | +100.0% |
2 Bedrooms | $167K | $234.5K | +40.4% |
3 Bedrooms | $225K | $350K | +55.6% |
4 Bedrooms | $295K | $339.5K | +15.1% |
5+ Bedrooms | $552.4K | $468.5K | -15.2% |
Summary: Hot Springs housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 40.4%, 3 bedroom homes increased by 55.6%, 4 bedroom homes increased by 15.1%, and 5+ bedroom homes decreased by 15.2%.
Housing Supply in Hot Springs, SD
How many homes are available in Hot Springs, SD?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
34 | 39 | +14.7% |
Summary: The Hot Springs real estate market had 39 homes for sale in April 2024, a 14.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 4 | +100.0% |
2 Bedrooms | 13 | 12 | -7.7% |
3 Bedrooms | 11 | 14 | +27.3% |
4 Bedrooms | 5 | 7 | +40.0% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Hot Springs housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 40%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
4 | 11 | +175.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Hot Springs in April 2024, up by 175.0% month-over-month. Of the 10 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for Hot Springs, SD
We’re sorry, we don't have information for this market at the moment