3 hours on Rocket
$2,493 Closing Credit¹
#173624, JOE MUTH, Listing Office: COLDWELL BANKER BLACK HILLS LEGACY
Rapid City Housing Market Report April 2025•Pennington County, South Dakota
Housing Prices in Rapid City, SD
How much do homes in Rapid City, SD cost?
Housing Market Conditions
Is Rapid City, SD a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Rapid City is a Buyer's Market
Difference Since April 2024
At the same time last year, Rapid City was a Seller's Market.
Insight
Rapid City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Median Sold Price
$367,000$190/SqFt
+$17,073
+4.9%
Based on all homes sold in the last 12 months
Insight
Homes in Rapid City have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Rapid City was $367,000 in April 2025, up 4.9% from last year, and the median price per square foot was $190.
Median Sold Price By Cities
| City | Apr 2024 | Apr 2025 | Change YoY |
|---|---|---|---|
| Rapid City | $349.9K | $367K | +4.9% |
| Central Pennington | $349.5K | $364.7K | +4.4% |
| Box Elder | $355.1K | $358.5K | +0.9% |
| Box Elder | $354.9K | $352K | -0.8% |
Median Sold Price By Bedrooms
| Beds | Apr 2024 | Apr 2025 | Change YoY |
|---|---|---|---|
| 11 Bedroom | $172.4K | $262.5K | +52.2% |
| 22 Bedrooms | $246K | $266K | +8.1% |
| 33 Bedrooms | $315K | $345K | +9.5% |
| 44 Bedrooms | $392K | $399K | +1.8% |
| 55+ Bedrooms | $605K | $521.9K | -13.7% |
Summary: Rapid City housing price by bedroom type for April 2025, compared to the previous year. The home price for 1 bedroom homes increased by +52.2%. The home price for 2 bedroom homes increased by +8.1%. The home price for 3 bedroom homes increased by +9.5%. The home price for 4 bedroom homes increased by +1.8%. The home price for 5 bedroom homes decreased by -13.7%.
How does Rapid City, SD compare with other places?
Market comparison tool
Data and numbers shown are subject to change and may vary based on different timeframes.
Rapid City, SD
Housing supply in Rapid City, SD
How many homes are available in Rapid City, SD?
Number of Homes For Sale
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 467Last MonthApr 2025 | ||
| 3192 months agoMar 2025 | +46.4 % Change MoMMar – Apr |
Summary: The Rapid City real estate market had 467 homes for sale in Apr 2025, a 46.4 % increase compared to Mar 2025.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 33Last MonthApr 2025 | ||
| 332 months agoMar 2025 | 0.0 % Change MoMMar – Apr |
Homes For Sale By Bedroom Count
| Beds | Mar 2025 | Apr 2025 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 2 | 8 | +300.0% |
| 22 Bedrooms | 61 | 74 | +21.3% |
| 33 Bedrooms | 104 | 154 | +48.1% |
| 44 Bedrooms | 102 | 155 | +52.0% |
| 55+ Bedrooms | 50 | 76 | +52.0% |
Summary: Rapid City housing inventory by bedroom type for April 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +300.0%. The inventory for 2 bedroom homes increased by +21.3%. The inventory for 3 bedroom homes increased by +48.1%. The inventory for 4 bedroom homes increased by +52.0%. The inventory for 5 bedroom homes increased by +52.0%.
Asking Price vs. Sold Price
How much do homes in Rapid City, SD cost?
Over Asking Price6 Homes
At Asking Price8 Homes
Under Asking Price17 Homes
Insight
If you're buying a home in Rapid City, you may be able to get a good deal. 54.8% of homes here sold below asking price last month.
Summary: A total of 33 homes were sold or pending in Rapid City in April 2025, the same as the previous month. Of the 31 sold homes, 55% were sold under asking, 26% were sold at asking, and and 19% were sold over asking.
Days on Market for Rapid City, SD
We’re sorry, we don't have information for this market at the moment.
Home sale times aren’t available for this area.
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Newest Listings in Rapid City, SD
What homes are available in Rapid City, SD?
7 hours on Rocket
$6,116 Closing Credit¹
#173619, BILLY HALL, Listing Office: BETTER WAY HALF FEE REALTY
7 hours on Rocket
$2,731 Closing Credit¹
#173618, KELLY MCGREGOR, Listing Office: BERKSHIRE HATHAWAY HOMESERVICES MIDWEST REALTY
12 hours on Rocket
$4,144 Closing Credit¹
#173603, IDA WALTER, Listing Office: GOLD KEY REALTY & AUCTIONS
12 hours on Rocket
$5,225 Closing Credit¹
#84280, Listing Office: Keller Williams Realty Black Hills RC
15 hours on Rocket
$4,511 Closing Credit¹
#173601, GENE HENSLEY, Listing Office: RE/MAX RESULTS
1 day on RocketTour
$3,741 Closing Credit¹
#22503317, Cheri St Pierre, Listing Office: Berkshire Hathaway HomeServices Midwest Realty - Sioux Falls
1 day on Rocket
$5,344 Closing Credit¹
#173593, ED DREYER, Listing Office: RE/MAX ADVANTAGE
1 day on Rocket
$4,631 Closing Credit¹
#173591, GREGG STILTON, Listing Office: RUSHMORE REAL ESTATE GROUP LIMITED
1 day on Rocket
$3,205 Closing Credit¹
#84262, Listing Office: Keller Williams Realty Black Hills RC
1 day on Rocket
$5,807 Closing Credit¹
#173587, AMY KLOCK, Listing Office: RE/MAX ADVANTAGE
1 day on Rocket
$2,018 Closing Credit¹
#173584, NICHOLAS DOWLING, Listing Office: BLACK HILLS REALTY
Popular Cities with Homes for Sale in South Dakota
MLS Disclaimers and Copyright
Based on information from Black Hills Association of REALTORS® MLS, Mount Rushmore MLS, and Sioux Empire MLS for the period 05/01/2023 - 05/01/2025
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. Copyright © 2025 by Black Hills Association of REALTORS®. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/6/2025, 11:10:29 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Mount Rushmore Area Association of REALTORS® Multiple Listing Service. Real estate listings held by other brokerage firms are marked with the Broker Reciprocity™ logo and detailed information about them includes the name of the listing brokers. Information Deemed Reliable But Not Guaranteed. The broker(s) providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. Copyright 2025 Mount Rushmore Area Association of REALTORS®., Inc. Multiple Listing Service. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/6/2025, 11:10:29 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/6/2025, 11:10:29 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the REALTOR® Association of the Sioux Empire, Inc., Multiple Listing Service. Real estate listings held by other brokerage firms are marked with the Internet Data Exchange™ logo or the Internet Data Exchange thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. 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. The broker(s) providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. The REALTOR® Association of the Sioux Empire, Inc. does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. 
©2025 REALTOR® Association of the Sioux Empire, Inc. Multiple Listing Service. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/6/2025, 11:10:27 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.