South Dakota Real Estate Market Trends & Analysis

The South Dakota real estate market is on the rise, and there are no signs the trend will come to an end anytime soon. Home values have increased across the state for nearly seven consecutive years, and next year looks to be no exception. Industry experts and pundits both agree prices will continue to rise for the foreseeable future.

What’s more, residents in South Dakota have found themselves the beneficiaries of one of the nation’s largest wage increases, which should stimulate more real estate activity than in recent history. That’s an important distinction to make, as demand has managed to persist in the face of appreciation. The resulting market indicators suggest South Dakota will be a great place to invest now, and in the future.

The Top South Dakota Real Estate Markets

  • Median Home Value: $194,400
  • 1-Year Appreciation Rate: +6.6%
  • Median Home Value (1-Year Forecast): +2.7%
  • Median Rent Price: $1,140
  • Price-To-Rent Ratio: 14.21
  • Average Days On Market: 62
  • Unemployment Rate: 2.9% (latest estimate by the Bureau Of Labor Statistics)
  • Population: 882,235 (latest estimate by the U.S. Census Bureau)
  • Median Household Income: $54,126 (latest estimate by the U.S. Census Bureau)
  • Percentage Of Vacant Homes: 11.81%
  • Foreclosure Rate: 1 in every 23,705

South Dakota Real Estate Fees & Regulations

Real Estate

Closing Conducted by: Title Companies, Lenders, Real Estate Agents, Attorneys
Conveyance: Warranty Deed

Foreclosure Procedure

Primary Foreclosure Method: Judicial
Process Period: 6 - 9 months
Notice of Sale: Sheriff
Redemption Period: Up to 12 Months


Income Tax: None
Corporate Tax: None
Sales Tax: 4.00%
Estate Tax: No
Inheritance Tax: No
Median Property Tax: 1.28%
Property Taxes by County:

Average Transactional Costs

Closing Cost: $2,563.00
Transfer Fee: 0.10%
Origination Fee: $1,940.00

South Dakota Foreclosure Trends & Statistics

Tax Lien Investing

  • Tax Lien or Deed: Tax Deed state (used to be Tax Lien state)
  • Interest Rate: Appears to not do auctions anymore