The Sioux Falls housing market continues to evolve, offering a mix of opportunities for buyers, sellers, and renters. Understanding the current trends and upcoming developments can help residents make informed decisions.
Current Market Trends
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 faster, with an average of 66 days on the market, down from 72 days last year. However, the number of homes sold in March decreased to 205 from 224 the previous year.
In terms of home values, the average home value in Sioux Falls reached $329,723, marking a 1.5% increase over the past year. Homes typically go pending in around 35 days, indicating a relatively brisk market.
New Developments
Several new housing developments are underway, aiming to meet the growing demand and provide diverse living options:
PowderHaus
Located off Veterans Parkway and East 33rd Street, PowderHaus is set to offer 425 units, including studios, up to three-bedroom apartments, and townhomes. Amenities will feature a 24/7 clubhouse, golf simulators, dog parks, outdoor pools, and more.
Harvest Creek
Developed by Empire Homes, Harvest Creek in southeast Sioux Falls provides a variety of housing options, including single-family homes, twin homes, and townhomes. The community offers a private neighborhood setting with easy access to major roadways.
Lone Tree
Scheduled to begin in summer 2026, Lone Tree is a residential community near 272nd & Western Ave in Harrisburg/South Sioux Falls. The development will feature executive single-family and slab-on-grade homes around scenic pond environments.
Affordable Housing Initiatives
Efforts to provide affordable housing are also progressing. Trinity Point, developed by Lloyd Companies, has introduced 48 new affordable housing apartments within the Dawley Farm Village development. This project aims to offer residents proximity to employers, schools, and other essential services.
Additionally, LifeScape, in collaboration with Koch Hazard Architects, is building residential duplexes throughout Sioux Falls to serve young adults transitioning from institutional care to home and community-based services. Each unit includes four bedrooms, communal living spaces, and is designed to support independent living.
Staying informed about these trends and developments can help residents navigate the Sioux Falls housing market effectively, whether they are looking to buy, sell, or rent.