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RAPID CITY, SD 57701

Real Estate Market Report  ·  Pennington County
Balanced Market
September 2026  ·  Source: Realtor.com

Market Analysis

Data as of September 2026. Source: Realtor.com.

The RAPID CITY, SD real estate market (57701) currently shows 226 active listings, with 61 pending sales. Homes are averaging 56 days on the market before going under contract.

Inventory has tightened compared to last year, with 17 fewer active listings — creating more competition among buyers.

Homes are taking longer to sell, averaging 56 days on market compared to 44 days last year.

The median listing price has fallen 0.9% year-over-year, from $352,300 to $349,000.

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Market Context

Market Context

Population: 45,046  ·  Density: 333.1/mi²  ·  Median household income: $52,255

Typical home value: $204,956  ·  Homeownership: 58.2%

Market Overview

Active Listings
226
⇩ 7% vs 243 last year
Pending
61
27% pending ratio
Median Price
$349,000
⇩ 0.9% vs $352,300 last year
Average Price
$410,370
⇩ 9.8% vs $454,864 last year
Days on Market
56
⇧ 27.3% vs 44 days last year

Price Per Square Foot

Median $/sqft
$211
⇩ 1.4% vs $214/sqft last year
Median Home Size
1,656 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 226 this year vs 243 last year
  • Days on market: 56 now vs 44 last year

Median & Average Pricing

Year over Year
  • Median: $349,000 (-0.9% YoY)
  • Average: $410,370 (-9.8% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 53.2 miles — 572 listings ($382,886,244 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
57701Rapid City, SD 577010.0 mi197$83,785,479$344,900$425,307
57769Piedmont, SD 577699.6 mi26$16,774,264$618,744$645,164
57703Rapid City, SD 5770311.4 mi120$49,397,160$377,788$411,643
57759Nemo, SD 5775918.6 mi3$1,990,500$663,500$663,500
57785Sturgis, SD 5778520.6 mi55$38,996,485$573,800$709,027
57732Deadwood, SD 5773223.1 mi20$14,353,340$493,750$717,667
57744Hermosa, SD 5774425.4 mi6$8,361,000$887,500$1,393,500
57793Whitewood, SD 5779333.1 mi18$11,856,762$421,000$658,709
57754Lead, SD 5775434.5 mi113$143,302,419$1,012,000$1,268,163
57791Wasta, SD 5779137.6 mi1$160,000$160,000$160,000
82715Four Corners, WY 8271545.3 mi3$4,074,000$1,200,000$1,358,000
57790Wall, SD 5779049.6 mi5$1,299,835$245,000$259,967
82712Beulah, WY 8271253.2 mi5$8,535,000$2,250,000$1,707,000

Frequently Asked Questions

How many homes are for sale in RAPID CITY, SD 57701?

As of September 2026, there are 226 active listings in RAPID CITY, SD (zip code 57701), compared to 243 the prior year.

What is the median home price in RAPID CITY, SD 57701?

The median listing price in RAPID CITY, SD 57701 is $349,000 as of September 2026, a 0.9% decrease from $352,300 the prior year.

How long do homes stay on the market in RAPID CITY, SD?

Homes in RAPID CITY, SD 57701 spend an average of 56 days on the market before going under contract, compared to 44 days the prior year.

Is it a seller's or buyer's market in RAPID CITY, SD 57701?

Based on current inventory and days-on-market data as of September 2026, RAPID CITY, SD 57701 is currently a Balanced Market. Inventory has tightened compared to last year, with 17 fewer active listings — creating more competition among buyers. Homes are taking longer to sell, averaging 56 days on market compared to 44 days last year.

How much can I save on real estate commission in RAPID CITY, SD?

With SELL123.com's maximum 3% commission, sellers in RAPID CITY, SD 57701 save an estimated $6,980 compared to a typical 5% commission on the median listing price of $349,000. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.