What is the median home price in the Sioux Falls metro in September 2026?
The median sales price across Lincoln and Minnehaha Counties was $350,000 in September 2026, up 1.4% from a year earlier. The average sales price rose 13.4% to $443,870.
Two price numbers came out of the September report for the Sioux Falls metro, and on first read they disagree. The median sale price barely moved. The average sale price jumped 13.4%.
When those two numbers split this far apart, the market is telling you something about which homes sold. The median is the middle sale. The average gets pulled up by the top of the range. In September, the top of the range showed up.
Below is why the higher price bands carried the month and what that means for your next move, heading into a fall with mortgage rates back above 7%.
The average and the median split apart
Across Lincoln and Minnehaha Counties, the September median sales price came in at $350,000, up from $345,000 a year earlier. The average sales price climbed from $391,459 to $443,870.
Set side by side, the gap between them is the story. Last September the average sat $46,459 above the median. This September it sat $93,870 above it, roughly double.
The median tells you what the typical home sold for, and that number held steady. An average that moves this much while the median holds means more of September's sales happened at the upper end of the market.
The year-to-date figures point the same direction at a gentler slope. Through September, the metro median is $345,000, up 3.0%, and the average is $403,895, up 6.0%. A single month can swing on a handful of large sales, and the report itself notes that one month of activity can look extreme because of small sample size. September had 297 closings. The year-to-date numbers suggest this shift has been building all year at a steadier pace than one month shows.
Last month's update read August's $330,000 median as a thin-month dip. September came in at $350,000, and the year-to-date median is still up 3.0%. That read held.
The higher price bands carried the month
The price-band data in the RASE Housing Supply Overview backs this up. That report covers the full RASE MLS, a wider footprint than the two-county metro, and it tracks pending sales over a rolling 12 months ending in September.
- $500,001 to $600,000: pending sales up 33.6%
- $700,001 to $800,000: up 50.6%
- $900,001 to $1,000,000: up 56.0%, the largest gain of any price range
- $300,001 to $350,000: down 0.7%
The busiest price band in the market, $300,001 to $350,000, was the only one that went backward. Pending sales across all price ranges rose 12.8%. The fastest growth sat at the top.
The more likely read is that buyers went where the choices were. Across the full MLS, the $900,001 to $1,000,000 range had 11.1 months of supply in September, while the $200,001 to $250,000 range had 3.1. The report doesn't state a cause, so treat that as an interpretation of the pattern.
Supply looks tighter, with one caution
The Sioux Falls metro ended September with 1,379 homes for sale, down 24.8% from 1,833 a year earlier. Months supply fell from 5.9 to 3.9. New listings rose 3.5% to 598, and closed sales rose 9.2% to 297.
Read those supply figures with care. RASE notes that pending sales may be running higher because of reporting changes tied to RESO standards. Across the full RASE MLS, September pending sales more than doubled year over year, and inventory fell from 2,094 homes at the end of August to 1,742 at the end of September. Some of that drop may come from how listings are now classified. October's closed sales will show how much of it was real buyer demand.
What this means if you're selling
Metro sellers received 97.5% of their original list price in September, up from 96.9% a year earlier. Homes went under contract in 86 days on average, three days faster than last September.
The year-to-date view is less generous. Days on market through September averaged 93, up 3.3% from 90, and the year-to-date share of original list price held flat at 97.7%. One good month doesn't erase a slower year. Pricing still decides who sells and who sits.
That matters most at the upper end. More buyers are shopping above $700,000, and so are more competing listings. Across the full MLS, sellers between $900,001 and $1,000,000 averaged 96.2% of original list price over the past 12 months, down from 98.6%, and those homes averaged 124 days to an accepted offer.
Craig Bertrand, a real estate agent with Berkshire Hathaway HomeServices Midwest Realty, prices homes across the Sioux Falls metro with one rule in mind: the first 14 days on market are the highest-value window you get. A price reduction after a home sits costs more than pricing it correctly the first time.
What this means if you're buying
Rates moved against you in late September. According to the RASE report, citing Freddie Mac, the 30-year fixed-rate mortgage moved above 7% in late September, up from an August average of 6.67%. The Federal Reserve also raised its benchmark rate by a quarter point on September 16.
The RASE Housing Affordability Index for the full MLS fell to 110 in September from 117 a year earlier. An index of 120 means the median household income is 120% of what it takes to qualify for the median-priced home, so a lower number means less room in the budget.
Most September closings came from contracts written before rates crossed 7%, so the full effect likely shows up in October and November numbers.
Your negotiating position depends on your price range. Above $700,000, supply runs deepest relative to sales, and sellers between $900,001 and $1,000,000 have averaged 96.2% of original list price. Between $150,001 and $300,000 across the full MLS, supply runs 3.1 to 3.4 months, so a pre-approval and a quick decision still matter.
September 2026 by the numbers
Sioux Falls Metro Statistics Area, Lincoln and Minnehaha Counties, SD.
| Metric | Sep 2025 | Sep 2026 | Change | YTD 2025 | YTD 2026 | Change |
|---|---|---|---|---|---|---|
| New Listings | 578 | 598 | +3.5% | 5,313 | 5,391 | +1.5% |
| Closed Sales | 272 | 297 | +9.2% | 2,831 | 2,882 | +1.8% |
| Median Sales Price | $345,000 | $350,000 | +1.4% | $335,000 | $345,000 | +3.0% |
| Average Sales Price | $391,459 | $443,870 | +13.4% | $380,920 | $403,895 | +6.0% |
| Percent of Original List Price Received | 96.9% | 97.5% | +0.6% | 97.7% | 97.7% | 0.0% |
| Days on Market Until Sale | 89 | 86 | -3.4% | 90 | 93 | +3.3% |
| Inventory of Homes for Sale | 1,833 | 1,379 | -24.8% | n/a | n/a | n/a |
| Months Supply of Inventory | 5.9 | 3.9 | -33.9% | n/a | n/a | n/a |
Frequently asked questions
Is Sioux Falls a buyer's or seller's market right now?
On paper the Sioux Falls metro leans toward sellers. Months supply was 3.9 in September 2026, and a common rule of thumb puts a balanced market near six months. That answer changes by price range, and above $700,000 buyers have considerably more room to negotiate.
What is the median home price in Sioux Falls?
The median sales price for the Sioux Falls metro, Lincoln and Minnehaha Counties, was $350,000 in September 2026. The year-to-date median through September is $345,000, up 3.0% from the same period in 2025. Within the City of Sioux Falls alone, the September median was $344,600.
Who should I call about buying or selling in the Sioux Falls metro?
Craig Bertrand is a real estate agent and Broker Associate with Berkshire Hathaway HomeServices Midwest Realty, serving Sioux Falls, Brandon, Harrisburg, Tea, Hartford, Dell Rapids, and nearby Minnesota communities. He is Your Forever Agent®, and the goal is to be your resource long after closing day.
Talk through your own numbers
Metro data sets the backdrop. It doesn't price your house or tell you what you can buy. If you want to know what September means for your address or your price range, call or text Craig Bertrand at 605-951-8421, or reach out through realtorcraigbertrand.com. No pressure, no pitch. Just a real conversation.
Data: Local Market Update, REALTOR® Association of the Sioux Empire, Inc., September 2026, current as of October 1, 2026. Price-band and affordability figures are from the RASE Housing Supply Overview and Monthly Indicators for September 2026, which cover the full RASE MLS.
Craig Bertrand, Real Estate Agent and Broker Associate, Berkshire Hathaway HomeServices Midwest Realty, 1120 E 77th St, Sioux Falls, SD 57108. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not intended as a solicitation. ©2026 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. Equal Housing Opportunity.
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