$6,828 Closing Credit*
$575,000
2,753 SqFt
4 Beds
•3 Full Baths
#82436, Listing Office: eXp Realty Lead
Is Spearfish, SD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Spearfish has remained a Seller's Market.
Key Takeaway
Spearfish is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spearfish, SD
How much do homes in Spearfish, SD cost?
Median Sold Price
$500,750
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,750(+4.3%)
Key Takeaway
Homes in Spearfish have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Spearfish was $500,750 in October 2024, up 4.3% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275.8K | $300K | +8.8% |
| 2 Bedrooms | $293.5K | $310K | +5.6% |
| 3 Bedrooms | $425K | $482.5K | +13.5% |
| 4 Bedrooms | $501K | $525K | +4.8% |
| 5+ Bedrooms | $610K | $775K | +27.0% |
Summary: Spearfish housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.8%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 27%.
Median Sold Price Compared To Nearby Cities
| North Lawrence | $600K | $699K | +16.5% |
| Spearfish | $480K | $500.7K | +4.3% |
Housing Supply in Spearfish, SD
How many homes are available in Spearfish, SD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 100 | 99 | -1.0% |
Summary: The Spearfish real estate market had 99 homes for sale in October 2024, a 1.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 9 | +28.6% |
| 3 Bedrooms | 28 | 29 | +3.6% |
| 4 Bedrooms | 36 | 32 | -11.1% |
| 5+ Bedrooms | 29 | 29 | 0.0% |
Summary: The Spearfish housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 3.6%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 18 | -5.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spearfish, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Spearfish in October 2024, down by 5.3% month-over-month. Of the 18 sold homes, 56% were sold under asking, 28% were sold at asking, and 17% 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.