Published October 11, 2026 in Market Update

Yankton homes moved faster even with rates above 7%

By Michelle Maloney | Maloney Real Estate

Real estate, Yankton (DOTW)

Rates are high. That is just true. CNBC reported the average 30-year fixed rate hit 7.49% in early October 2026. Realtor.com noted rates climbed above 7% for the first time since January 2025. Yet in Yankton, deals kept closing. That means pricing and preparation matter more than waiting for rates to drop.

The Real Estate Data Aggregator counted 84 homes sold across Yankton in the three months ending August 31, 2026. Another 81 were pending. Demand did not disappear, even with rates where they are.

ZIP 57078: the heart of the market

Almost all of that activity came from ZIP 57078. The Real Estate Data Aggregator counted 83 homes sold there, up 23.9% from the same three months in 2025. The median sale price rose to $295,000, up 10.5% year over year. Nationally, the Federal Housing Finance Agency reported U.S. home prices rose just 2.6% over the same stretch. Yankton outpaced that by a wide margin.

Homes are selling faster, and some are going over asking

The Real Estate Data Aggregator put the median days on market in 57078 at 20 days. That is 9 days shorter than the same period in 2025. Nationally, Realtor.com reported 20.8% of listings took a price cut in September 2026, the highest share since October 2022. In 57078, sellers averaged 97.6% of their list price. That is up 0.7 points from a year ago. Not every home sold over asking, but 15.7% did, up 3.8 points from 2025.

The Real Estate Data Aggregator found that 41.3% of homes in 57078 went under contract within two weeks of listing. That share is up 5.1 points from 2025. Well-priced homes are not sitting long.

Supply is tight

The Real Estate Data Aggregator counted just 70 homes for sale in 57078, down 26.3% from a year ago. New listings came in at 93, up 12%. More sellers are listing, but inventory is still thin. At 2.6 months of supply, buyers do not have a lot to choose from. That is down 1.7 months from 2025.

ZIP 57031: a smaller, quieter story

ZIP 57031 is a small part of this market. The Real Estate Data Aggregator counted just 1 home sold and 1 pending there in the three months ending August 31, 2026. Only 2 homes were for sale, and 1 new listing came to market. With so few transactions, the numbers move a lot with any single sale. The Real Estate Data Aggregator put months of supply at 6.1 there, compared with 2.6 in 57078. That one home sold at 95% of list price. No homes sold above asking.

What the national picture adds

CNBC reported that mortgage applications to purchase a home fell 15% from a year ago nationally. Refinance applications dropped 56%. Those are real headwinds for buyers. Yet the Real Estate Data Aggregator shows Yankton's 57078 moving in the opposite direction on sales volume. The Federal Housing Finance Agency reported U.S. prices rose 0.3% in July alone, and 2.6% year over year. Yankton's 10.5% price gain in 57078 is well above that national pace.

One more thing worth knowing. The numbers above cover full ZIP codes. One street can read very differently from the whole area. A home's condition, price point and exact location all shape the result. If you want to know what the data says about your specific address, I am happy to dig in.