South Dakota started 2024 with a total of 1,410 single-family homes on the market, with a median home price of $395,950 and an average price per square foot of $227.66. By the end of the year, inventory had increased to 1,971 homes on the market (+40%), with a median home price of $395,000 (0%), and an average price per square foot of $232 (+2%).
At the start of 2024, the median days on market (DOM) was 91 days – by the end of the year, median DOM had decreased to 84 days.
South Dakota started the year with 22.70% of homes taking a price cut. (For reference, 35% is the national average for price reductions in a "normal" year.) By the end of the year, about 26.08% of homes for sale had taken a price cut.
