Published October 25, 2026 in Market Update

Some Sioux Falls homes still move fast, but not every part is a sprint

By Michelle Maloney | Maloney Real Estate

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

Realtor.com reported that mortgage rates topped 7% nationally in September 2026. That makes pricing and timing count more than they did a year ago.

Here is the honest truth: Sioux Falls is not one market right now. It is several, and they are reading very differently from each other.

The fastest corner: ZIP 57105

The Real Estate Data Aggregator counted 124 homes sold in ZIP 57105 in the three months ending August 31, 2026. The median days on market there was 15. That is quick.

The Real Estate Data Aggregator also found that 42% of homes in 57105 went under contract within two weeks of listing. Nearly 1 in 4 sold above list price, at 23.4%.

The price dip in 57105 is worth noting. Homes sold faster, but the middle price fell 11.5% from a year before. More homes and more listings came to market, so buyers had choices. Sellers who priced sharp still won.

The slower corner: ZIP 57069 (Vermillion)

The Real Estate Data Aggregator counted 39 homes sold in ZIP 57069 in the three months ending August 31, 2026. Median days on market there was 51, which is 17 days longer than the same period in 2025.

Only 13.8% of homes in 57069 went under contract within two weeks. That is down 8.4 points from a year before. Supply jumped too: homes for sale rose 120.7% year over year, according to the Real Estate Data Aggregator.

More supply and slower sales is a combination that gives buyers more room to negotiate. Sellers in 57069 need to price carefully from day one.

How the two fastest ZIP codes compare

Yankton and Jefferson are moving too

ZIP 57078 (Yankton) is another bright spot. The Real Estate Data Aggregator counted 83 homes sold there in the three months ending August 31, 2026. Median days on market was 20, which is 9 days shorter than a year before.

Yankton's median sale price rose 10.5% year over year to $295,000, and 41.3% of homes went under contract within two weeks. Homes for sale fell 26.3%, so there is less to choose from.

ZIP 57038 (Jefferson) had a median of 19 days on market and a sale-to-list ratio of 99.2%, the Real Estate Data Aggregator found. The median sale price there was $635,000. Only 6 homes sold in that period, so those numbers come from a small sample.

The wider picture: rates and national trends

Freddie Mac put the average 30-year fixed rate at 7.32% as of October 22, 2026. The 15-year averaged 6.68%.

Realtor.com reported that 20.8% of listings nationally had a price cut in September 2026, the highest share since 2018. That is a national number, not a local one, but it shows the pressure sellers face when they overprice.

The Federal Housing Finance Agency reported that U.S. house prices rose 2.6% from July 2025 to July 2026. Locally, some ZIP codes beat that and some fell short.

The market across all ZIP codes

Across all 14 ZIP codes in this market, the Real Estate Data Aggregator counted 665 homes sold, 795 new listings, and 591 pending sales in the three months ending August 31, 2026.

What this means for you

If you are selling, the ZIP code matters more than the city average. A home in 57105 faces a very different crowd than one in 57069 right now.

If you are buying, rates above 7% mean your monthly payment is real. But some parts of this market, like Beresford and Vermillion, have more supply and slower sales. That gives you more room.

One street can read very differently from the ZIP code around it. If you want to know exactly where your home sits in this market, I am happy to walk you through it.