When you’re like many South Dakotans, your own home might be your most necessary asset. Promoting it isn’t a call to take evenly.
Chances are you’ll be contemplating a transfer to a special state, relocating to the suburbs, or downsizing to higher fit your wants. No matter your motivations, you’re desirous to promote and wish the method to be as seamless as attainable whereas maximizing your proceeds.
As you formulate your plan, it’s important to know the potential price of promoting a home in South Dakota. On this article, we’ll break down the bills you possibly can anticipate and supply knowledgeable insights to present you a greater image of what you possibly can count on when promoting your own home within the Mount Rushmore State.
Housing tendencies in South Dakota
Just like many areas throughout the nation, South Dakota is dealing with excessive rates of interest and elevated residence costs.
“The South Dakota housing market is a bit unpredictable — it can feel a little crazy at times. Homes we expect to sell quickly sometimes sit, while others we think will take time, fly off the market,” says Amy Hix, a high South Dakota actual property agent with 10 years of expertise.
Right here’s a snapshot of South Dakota’s present actual property panorama:
| As of April 2025 | |
| Days on market | 60 days |
| Median residence sale worth | $305,000 |
| Record worth vs. sale worth | 98% |
| Inhabitants development yr over yr | +0.69% |
Sources: Estimates gathered from varied South Dakota housing market information sources, World Inhabitants Evaluate
As a vendor in South Dakota, one statistic to observe is the days on market (DOM), which signifies the typical time from itemizing a house to securing a signed buy settlement. In South Dakota, the typical DOM is 60 days.
“Overall, demand is consistent, but the pace and interest can be inconsistent depending on price point, condition, and location,” Hix says.
Begin with a house worth estimate
Securing a house worth estimate is an effective first step when estimating the prices of promoting your home in South Dakota.
Given the quickly altering market, now is a superb time to evaluate your own home’s value. You may be pleasantly shocked by its worth.
You’ll be able to rapidly request an internet worth estimate utilizing HomeLight’s Dwelling Worth Estimator. This free automated valuation mannequin (AVM) device will analyze latest gross sales, native market tendencies, and your South Dakota residence’s newest promoting worth to offer a preliminary worth vary in below two minutes. Simply enter your tackle to get began.
How a lot does it price to promote a home in South Dakota?
Essentially the most exact reply is that it varies. Primarily based on our findings, the price to promote a house in South Dakota might vary from 6% to 10% of your promoting worth.
For example, in the event you promote your own home for $305,000 — the median residence worth in South Dakota — your vendor prices might be roughly $18,300 to $30,500.
The precise prices you incur will rely in your decisions relating to residence prep, agent commissions, and any concessions you might supply the client. Subsequent, let’s take a look at what you must contemplate when estimating the price of promoting a home in South Dakota.
What are widespread bills for sellers in South Dakota?
The price of promoting a home in South Dakota can differ primarily based on the vendor’s circumstances throughout the state’s evolving market.
Your own home’s dimension, age, and situation can have an effect on the price of making ready it on the market. The next estimated costs may show you how to in your planning.
Prepping your home on the market
Getting ready your South Dakota residence on the market sometimes prices between 1.5% and a couple of.7% of your own home’s remaining sale worth. Primarily based on the $305,000 median residence worth in South Dakota, this might quantity to roughly $4,575 to $8,235.
Right here’s a more in-depth take a look at these bills:
Earlier than endeavor any main initiatives, resembling a kitchen transform or roof substitute, meet together with your agent. An skilled South Dakota actual property agent can advise you on what wants fixing and what doesn’t when promoting your own home.
Realtor charges in South Dakota
Agent commissions are among the many greatest prices in an actual property transaction. In South Dakota, Realtor charges can vary from 2.5% to six%, relying on whether or not you pay the client’s agent commissions, which is now not a given attributable to a landmark court docket settlement that modified fee guidelines throughout the nation.
Primarily based on the median residence worth of $305,000 in South Dakota, you possibly can count on to pay between $7,625 (2.5%) and $18,300 (6%) in actual property agent commissions.
Whereas agent commissions could appear excessive, working with knowledgeable can considerably enhance your probabilities of a profitable sale. HomeLight transaction information signifies that the highest 5% of brokers throughout the U.S. promote properties for as a lot as 10% greater than the typical agent.
“While commissions are technically negotiable, homes listed with a professional Realtor consistently sell for more and with fewer complications — often more than covering the cost of full-service representation,” says Hix.
Later on this publish, we’ll present how commissions may have an effect on your complete promoting prices in our at-a-glance evaluation chart.
