Market Intelligence Report — SD-580

Mitchell, SD

Monthly housing intelligence, market trends, and trusted local expertise.

Ref. No: 2026-SD-08
As of the latest 2026 data
Very Weak

Median Listing

$223K
-32.3% YoY

Pending Ratio

0.09
+7.5% YoY

Active Inventory

67
+0.0% YoY

Median DOM

46 Days
-35.9% YoY

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The Mitchell, SD market currently exhibits very weak demand absorption, with a pending ratio of 0.09. Active inventory remains stable year-over-year at 67 units, while the median listing price has seen a significant year-over-year decline of 32.3%.

Local Market Signals

Source: FRED (St. Louis Fed)

Local economic trends can influence how quickly homes sell and how much competition sellers may face.

Local economic indicators are not yet available for this metro. Check back soon.
Market Analysis

What's moving the Mitchell market right now.

The market is characterized by a notable softening in pricing, with the median listing price down 32.3% over the past year and 10.8% month-over-month. Despite this, active listings have held steady with no year-over-year change. New listings have increased by 33.3% over the past year, contributing to a total of 73 available listings. The pending ratio, at 0.09, remains very low, despite a 7.5% year-over-year increase, indicating demand is severely lagging.

Historical Analysis

Market Trends

Median Price

$223K-10.8% MoM

Active Inventory

67+0.0% YoY

Days on Market

46-35.9% YoY

Sold Score™

26+7.5% YoY

Sold Score™ Over Time

Market liquidity index • 36 months

26
Sep 23Aug 26

Price & Days on Market

Median listing vs market velocity

Price DOM
Sep 23Aug 26

Inventory Dynamics

Total active listings vs new monthly supply

Active New listings
Sep 23Apr 24Nov 24Jun 25Jan 26Aug 26

Sourced from Realtor.com RDC Inventory Core Metrics, supplemented by the Primpted research desk. Updated As of the latest 2026 data.

Market Signals & Indicators

Negotiating Leverage

In this environment, buyers face limited competition for available properties, and the market pace is slow, evidenced by a low pending ratio. Sellers are likely to encounter pressure on pricing, requiring considerable discipline to attract offers. The absorption rate suggests a protracted sales cycle for listed properties.

Luxury Segment

The luxury segment in Mitchell displays signs of softness, indicated by the average listing price of $300,001 notably exceeding the median listing price of $222,500, suggesting a disparity in pricing at the higher end. The median price per square foot has also declined by 9.7% year-over-year, further contributing to this trend.

Supply Dynamics

67 active listings represent the current floor, with new supply arriving at roughly 32 per month.

Pricing Pressure
22.5%

of active listings carry a price reduction, -2.3% from prior period.

$/Sq Ft
$0K

Median price per square foot has moved -9.7% year-over-year.

Absorption
0.09

Pending-to-active ratio — Very Weak.

Recommended For This Market

Very Weak

Selling in Mitchell, SD? Homes here are taking 26 days less to sell than last year.

Buyers have leverage in Mitchell, SD. Homes that sell are the ones priced and presented for today's conditions, not last year's.

Buyer Demand Index
9%
Median Days on Market
46 days
Inventory YoY
−0%

In a buyer's market, strategy beats timing. See how your home scores in Mitchell, SD and what moves the number.

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Metro Demographics

Metro Area
Mitchell, SD
CBSA Code
33580
State
SD

ZIPs in Mitchell, SD

Sorted by active inventory · click a ZIP for its full report

Analysis FAQ
  • What is the current market condition in Mitchell?+

    As of the latest 2026 data, the Mitchell metro is classified as Very Weak. Pending ratio is 0.09 with median days on market at 46.

  • Are home prices dropping in Mitchell?+

    Median listing price is $223K, -32.3% year over year. 22.5% of active listings carry a price reduction.

  • How fast are homes selling in Mitchell?+

    The typical listing sits 46 days on market, a -35.9% change YoY. New listings are arriving at 32 per month.

  • What's happening in the Mitchell luxury market?+

    The luxury segment in Mitchell displays signs of softness, indicated by the average listing price of $300,001 notably exceeding the median listing price of $222,500, suggesting a disparity in pricing at the higher end. The median price per square foot has also declined by 9.7% year-over-year, further contributing to this trend.

  • Where can I find a trusted Mitchell real estate expert?+

    Primpted maintains a vetted registry of Mitchell agents with verified credentials, Google reviews, and neighborhood specialization. See the Featured Experts section above.

Data & Methodology

Primary data sourced via Realtor.com's RDC Inventory Core Metrics (CBSA-level), supplemented by editorial analysis and the Primpted local expert registry. Historical trends calculated on a rolling 12-month basis. Past direction is not a forecast.

As of the latest 2026 data · CBSA 33580 · 36mo history