$170,000
0.84 Acres
Land
SANDY TOKAREK, Listing Office: KELLER WILLIAMS REALTY BLACK HILLS
Is Spearfish, SD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Spearfish was a Seller's Market.
Key Takeaway
Spearfish is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Spearfish, SD
How much do homes in Spearfish, SD cost?
Median Sold Price
$512,000
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$32,000(+6.7%)
Key Takeaway
Homes in Spearfish have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Spearfish was $512,000 in November 2024, up 6.7% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275.8K | $300K | +8.8% |
| 2 Bedrooms | $315K | $312.5K | -0.8% |
| 3 Bedrooms | $447K | $498K | +11.4% |
| 4 Bedrooms | $503K | $529K | +5.2% |
| 5+ Bedrooms | $610K | $767.5K | +25.8% |
Summary: Spearfish housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.8%, 2 bedroom homes decreased by 0.8%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 25.8%.
Median Sold Price Compared To Nearby Cities
| North Lawrence | $625K | $719.5K | +15.1% |
| Spearfish | $480K | $512K | +6.7% |
Housing Supply in Spearfish, SD
How many homes are available in Spearfish, SD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 99 | 91 | -8.1% |
Summary: The Spearfish real estate market had 91 homes for sale in November 2024, a 8.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 10 | 0.0% |
| 3 Bedrooms | 28 | 24 | -14.3% |
| 4 Bedrooms | 32 | 32 | 0.0% |
| 5+ Bedrooms | 29 | 25 | -13.8% |
Summary: The Spearfish housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 13.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 20 | 15 | -25.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spearfish, you may be able to get a good deal. 64.3% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Spearfish in November 2024, down by 25.0% month-over-month. Of the 14 sold homes, 64% were sold under asking, 36% were sold at asking, and 0% were sold over asking.
Days on Market for Spearfish, SD
We’re sorry, we don't have information for this market at the moment
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (IDX) program of Black Hills Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable But Not Guaranteed. Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability.