New - 1 day on Rocket
$4,513 Closing Credit¹
#82943, Listing Office: RE/MAX In The Hills
Spearfish Housing Market Report December 2024•Lawrence County, South Dakota
Housing Prices in Spearfish, SD
How much do homes in Spearfish, SD cost?
Housing Market Conditions
Is Spearfish, SD a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Spearfish is a Buyer's Market
Difference Since December 2023
At the same time last year, Spearfish was a Seller's Market.
Insight
Spearfish is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Median Sold Price
$510,000$223/SqFt
+$30,000
+6.3%
Based on all homes sold in the last 12 months
Insight
Homes in Spearfish have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Spearfish was $510,000 in December 2024, up 6.3% from last year, and the median price per square foot was $223.
Median Sold Price By City
| City | Dec 2023 | Dec 2024 | Change YoY |
|---|---|---|---|
| Spearfish | $480K | $510K | +6.3% |
| North Lawrence | $665K | $679K | +2.1% |
Median Sold Price By Bedrooms
| Beds | Dec 2023 | Dec 2024 | Change YoY |
|---|---|---|---|
| 11 Bedroom | $275.8K | $300K | +8.8% |
| 22 Bedrooms | $315K | $315K | 0.0% |
| 33 Bedrooms | $445K | $500K | +12.4% |
| 44 Bedrooms | $515K | $529K | +2.7% |
| 55+ Bedrooms | $689K | $755K | +9.6% |
Summary: Spearfish housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes increased by +8.8%. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes increased by +12.4%. The home price for 4 bedroom homes increased by +2.7%. The home price for 5 bedroom homes increased by +9.6%.
Housing supply in Spearfish, SD
How many homes are available in Spearfish, SD?
Number of Homes For Sale
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 72Last MonthDec 2024 | ||
| 802 months agoNov 2024 | -10.0 % Change MoMNov – Dec |
Summary: The Spearfish real estate market had 72 homes for sale in Dec 2024, a 10.0 % decrease compared to Nov 2024.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 6Last MonthDec 2024 | ||
| 172 months agoNov 2024 | -64.7 % Change MoMNov – Dec |
Homes For Sale By Bedroom Count
| Beds | Nov 2024 | Dec 2024 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 0 | 0 | 0.0% |
| 22 Bedrooms | 10 | 7 | -30.0% |
| 33 Bedrooms | 21 | 20 | -4.8% |
| 44 Bedrooms | 27 | 25 | -7.4% |
| 55+ Bedrooms | 22 | 20 | -9.1% |
Summary: Spearfish housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -30.0%. The inventory for 3 bedroom homes decreased by -4.8%. The inventory for 4 bedroom homes decreased by -7.4%. The inventory for 5 bedroom homes decreased by -9.1%.
Asking Price vs. Sold Price
How much do homes in Spearfish, SD cost?
Over Asking Price1 Home
At Asking Price2 Homes
Under Asking Price3 Homes
Insight
If you're buying a home in Spearfish, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Spearfish in December 2024, down by 64.7% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 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.
Home sale times aren’t available for this area.
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Newest Listings in Spearfish, SD
What homes are available in Spearfish, SD?
New - 2 days on Rocket
$10,000 Closing Credit¹
HEATH GRAN, Listing Office: GREAT PEAKS REALTY MUNRO & GRAN
New - 2 days on Rocket
$7,718 Closing Credit¹
#82950, Listing Office: eXp Realty
New - 4 days on RocketBackup offers
$2,968 Closing Credit¹
STUART MARTIN, Listing Office: RE/MAX RESULTS
$10,000 Closing Credit¹
#82839, Listing Office: Great Peaks Realty
$6,531 Closing Credit¹
DANEEN JACQUOT KULMALA, Listing Office: SOUTH DAKOTA PROPERTIES
#82821, Listing Office: The Real Estate Center of Spearfish
$10,000 Closing Credit¹
#82816, Listing Office: Great Peaks Realty
$10,000 Closing Credit¹
#82811, Listing Office: Keller Williams Realty Black Hills SP
#82801, Listing Office: Legacy Lifestyle Realtors, LLC
JOSEPH WOOTAN, Listing Office: LISTWITHFREEDOM.COM
#82375, Listing Office: Vylla Home
Nearby markets
Popular Cities with Homes for Sale in South Dakota
MLS Disclaimers and Copyright
Based on information from Mount Rushmore MLS, and Black Hills Association of REALTORS® MLS for the period 01/01/2023 - 01/01/2025
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: 1/29/2025, 3:20:55 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: 1/29/2025, 3:20:55 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 (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: 1/29/2025, 3:20:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.