Published November 1, 2026 in Market Update

More listings are giving Sioux Falls buyers a little more room

By Michelle Maloney | Maloney Real Estate

Real estate, Buy Box (Pulled from Zillow) - Sioux Falls

Here is the number that changes things for sellers right now: 795 new listings came to market while only 665 homes sold, according to the Real Estate Data Aggregator. That gap means shoppers have more to compare. Pricing and prep matter more than they did a year ago.

Freddie Mac put the average 30-year fixed rate at 7.24% as of October 29, 2026. Zillow reported that it expects rates to stay at 7% or higher through the rest of 2026. At that cost of borrowing, buyers move carefully. They compare every listing they can find.

More listings than sales is a shift worth naming. It does not mean homes are sitting forever. It means the days of every listing getting grabbed in a weekend are not the rule anymore. Not every home sold fast, and that is honest.

How each community read in the three months ending August 31, 2026

The two biggest ZIP codes inside Sioux Falls tell different stories. That is worth knowing before you price anything.

ZIP 57105 moved the fastest. The Real Estate Data Aggregator counted a median of just 15 days on market there. That is 6 days shorter than the same stretch in 2025. Sales were up 21.6% year over year. Prices dipped a little, down 11.5%, so buyers got more home for their money and sellers had to be sharp on price.

ZIP 57106 held steadier. The Real Estate Data Aggregator showed 205 homes sold and a median sale price of $330,000, down just 2.9% from a year ago. Days on market stayed flat. Nearly 1 in 5 homes there still sold above list price.

ZIP 57108 saw the biggest price gain of the three. The Real Estate Data Aggregator put the median at $414,900, up 9.2% from 2025. Supply grew to 3.6 months, the most of the three ZIP codes. Sellers here have more competition from each other than they did last year.

Yankton and Vermillion: two very different reads

Yankton, ZIP 57078, had a strong stretch. The Real Estate Data Aggregator counted 83 homes sold, up 23.9% from 2025. The median sale price rose 10.5% to $295,000. Homes spent a median of just 20 days on market, 9 days shorter than a year ago. Supply fell to 2.6 months. That is a market where well-priced homes moved.

Vermillion, ZIP 57069, read differently. The Real Estate Data Aggregator showed homes sitting a median of 51 days, 17 days longer than 2025. Supply climbed to 5 months, up 1.6 months from last year. Homes for sale nearly doubled, up 120.7%. Sales rose 50%, which is a real gain, but the extra inventory means buyers there have real choices.

Elk Point, ZIP 57025, had 7.7 months of supply according to the Real Estate Data Aggregator. That is the most of any ZIP code in this market. Ten homes were for sale and only 4 sold. Sellers there are working harder for every offer.

Jefferson, ZIP 57038, told the opposite story. The Real Estate Data Aggregator showed a median of just 19 days on market and a sale-to-list ratio of 99.2%. Only 6 homes sold, so the sample is small. But the speed and the pricing discipline there stood out.

What the national picture adds

Freddie Mac reported a 15-year fixed rate of 6.60% as of October 29, 2026. The Federal Housing Finance Agency reported that U.S. house prices rose 2.4% from August 2025 to August 2026. Zillow reported that newly pending sales fell 8.5% year over year nationally in September. The local picture here is more mixed than that national number suggests.

At 7.24%, every dollar of list price costs more to carry than it did two years ago. That is part of why buyers compare carefully and why overpriced homes sit. The Federal Housing Finance Agency found U.S. prices up just 0.3% from July to August 2026, a slow monthly pace. Nationally, the market is not racing.

One street can read very differently from the ZIP code around it. The numbers above are a starting point, not the whole answer for your home.