09/10/2026
📊🏡 AUGUST 2026 MARKET UPDATE | Sioux Empire
The latest numbers are in, and there’s a lot happening beneath the surface of our local real estate market! Here’s what stood out to us this month. 👇
🏠 1,636 active listings means buyers have options—but those options look VERY different depending on your price range.
⏳ 748 homes are currently pending, up 87% from August 2025. That’s a big jump and a good reminder that buyers are still out there and making moves.
🔑 347 homes sold in August, bringing us to 2,973 sales year-to-date.
📅 Homes spent an average of 77 days on the market, which is actually 17 days fewer than August of last year. Homes are moving, but pricing and positioning correctly from the beginning still matter.
💰 The average sold price was $367,481, down 5.2% compared to August 2025. Sellers also received an average of 96.9% of their original list price, which is up 0.8% year over year.
But one of the MOST interesting parts of this month's numbers is what happens when we break the market down by price. 👀
Homes between roughly $200K–$400K continue to see the most activity, while inventory increases significantly as you move into the higher price ranges. Homes priced $900K–$1M currently have about 14.1 months of supply, while homes over $1M have about 14.5 months. Compare that with just 3.4 months of supply in the $200K–$300K range.
👉 What does all of this mean?
For buyers, there may be more negotiating opportunities than you've had in recent years—especially in price ranges with higher inventory. More choices and longer supply can give you room to be more selective and negotiate terms.
For sellers, buyers are still buying, but today's market makes pricing, preparation, and marketing incredibly important. The strategy that works for a $300K home may look completely different from the strategy for a $750K+ home.
The biggest takeaway? There isn't just one "Sioux Falls housing market." Your experience depends heavily on your price point, location, property type, and competition.
Wondering what these numbers actually mean for your home or your buying plans? Send us a message—we'd be happy to break it down with you! 🏡🔑
