AI-generated illustrative neighborhood; not a photograph of a specific Sioux Falls location.
Each month I break down the latest numbers from the REALTOR® Association of the Sioux Empire (RASE) in plain English. The newest release covers October 2026 (published November 4).
The headline numbers (RASE MLS area)
| Oct 2025 | Oct 2026 | Change | |
|---|---|---|---|
| Median sales price | $319,800 | $311,000 | -2.8% |
| New listings | ~652 | 575 | -11.9% |
| Homes for sale | ~2,163 | 1,733 | -19.9% |
| Months of supply | ~5.8 | 4.3 | -25.9% |
| Days on market | ~87 | 90 | +3.4% |
| Pending sales | n/a | 634 | +51.0% YoY |
RASE reports pending sales up 51% year over year for October. Read that with care: reporting changes can inflate pending counts, so closed sales are the cleaner read on demand.
Inside Sioux Falls city limits
| Oct 2026 | vs Oct 2025 | |
|---|---|---|
| Closed sales | 203 | -26% |
| New listings | 365 | -17% |
| Median sales price | $310,000 | -4.6% |
| Average sales price | $362,244 | -5% |
| Days on market | 83 | -1 day |
| % of original list price received | 96.8% | -0.4 pts |
| Months of supply | 4.0 | down from 5.6 |
What it means
- October cooled off. Closings and new listings inside the city both fell double digits versus last year. The typical sale price eased a bit rather than climbing.
- Inventory is still tighter than a year ago. MLS-wide supply is about 4.3 months (city about 4), down from the mid-5s last October. Well-priced homes still move; homes that sit lose leverage.
- The upper end is still the growth story. Over the 12 months ending in October, pending sales from $900K to $1M rose 86.4%, the biggest gain of any price band, though those homes take the longest (about 119 days).
- Buyers have a little more room than the spring rush. City homes averaged 83 days on market. Get pre-approved and watch the payment, not just the price.
For sellers
Fewer new listings means less fresh competition, but buyers are pickier in a cooler month. Pricing right from day one still matters most. Want to know what your home is worth in this market? Get your home value
For buyers
You have a bit more time than in the heat of 2021 to 2022, and the typical city price was a little softer than last October. The best homes still go first. Search Sioux Falls homes
Questions about your neighborhood? Call or text me at 605.999.3522.