The Sioux Falls housing market continues to evolve, offering opportunities for both buyers and sellers. As of March 2026, the median sale price of homes in Sioux Falls was $310,000, reflecting a slight decrease of 0.96% compared to the previous year. Homes are selling after an average of 66 days on the market, indicating a somewhat competitive environment.
In terms of housing supply, the market has seen a stabilization. The available inventory increased to 2.1 months of supply in March 2026, up from 1.4 months in December 2025. This suggests a shift towards a more balanced market, providing reasonable negotiating opportunities for both buyers and sellers.
Several new developments are contributing to the growth of Sioux Falls. The PowderHaus community, located just off Veterans Parkway and East 33rd Street, is set to offer 425 units ranging from studios to three-bedroom apartments and townhomes. Amenities include a 24/7 clubhouse, golf simulators, dog parks, outdoor pools, and more.
Another notable development is Harvest Creek, built by Empire Homes in southeast Sioux Falls. This community offers a variety of housing options, including single-family homes, twin homes, and townhomes, with prices starting from $288,900.
For those interested in the rental market, the average rent in Sioux Falls as of March 2026 is $1,301, which is below the national average of $1,910. This makes Sioux Falls an attractive option for renters seeking affordability.
Overall, the Sioux Falls housing market presents a dynamic landscape with opportunities for various housing needs. Staying informed about market trends and new developments can help residents and potential buyers make well-informed decisions.