#83994, Listing Office: Landmark Realty & Development
Spearfish Housing Market Report March 2025•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 Neutral Market
Difference Since March 2024
Since last year, Spearfish has remained a Neutral Market.
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.
Median Sold Price
Based on all homes sold in the last 12 months
Homes in Spearfish have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in Spearfish was $507,500 in March 2025, up 4.6% from last year, and the median price per square foot was $223.
Median Sold Price By Cities
City | Mar 2024 | Mar 2025 | Change YoY |
---|---|---|---|
Spearfish | $485K | $507.5K | +4.6% |
North Lawrence | $680K | $647.6K | -4.8% |
Median Sold Price By Bedrooms
Beds | Mar 2024 | Mar 2025 | Change YoY |
---|---|---|---|
11 Bedroom | $275.8K | $300K | +8.8% |
22 Bedrooms | $310K | $322.5K | +4.0% |
33 Bedrooms | $452.9K | $501.5K | +10.7% |
44 Bedrooms | $517.5K | $525K | +1.4% |
55+ Bedrooms | $754.9K | $750K | -0.7% |
Summary: Spearfish housing price by bedroom type for March 2025, compared to the previous year. The home price for 1 bedroom homes increased by +8.8%. The home price for 2 bedroom homes increased by +4.0%. The home price for 3 bedroom homes increased by +10.7%. The home price for 4 bedroom homes increased by +1.4%. The home price for 5 bedroom homes decreased by -0.7%.
How does Spearfish, SD compare with other places?
Market comparison tool
Data and numbers shown are subject to change and may vary based on different timeframes.
Spearfish, SD
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 |
---|---|---|
77Last MonthMar 2025 | ||
652 months agoFeb 2025 | +18.5 % Change MoMFeb – Mar |
Summary: The Spearfish real estate market had 77 homes for sale in Mar 2025, a 18.5 % increase compared to Feb 2025.
Number of Homes Sold
Last Month | 2 months ago | Change MoM |
---|---|---|
11Last MonthMar 2025 | ||
102 months agoFeb 2025 | +10.0 % Change MoMFeb – Mar |
Homes For Sale By Bedroom Count
Beds | Feb 2025 | Mar 2025 | Change MoM |
---|---|---|---|
11 Bedroom | 0 | 0 | 0.0% |
22 Bedrooms | 5 | 6 | +20.0% |
33 Bedrooms | 20 | 20 | 0.0% |
44 Bedrooms | 23 | 30 | +30.4% |
55+ Bedrooms | 17 | 21 | +23.5% |
Summary: Spearfish housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +20.0%. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes increased by +30.4%. The inventory for 5 bedroom homes increased by +23.5%.
Asking Price vs. Sold Price
How much do homes in Spearfish, SD cost?
Over Asking Price1 Home
At Asking Price4 Homes
Under Asking Price6 Homes
If you're buying a home in Spearfish, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Spearfish in March 2025, up by 10.0% month-over-month. Of the 11 sold homes, 55% were sold under asking, 36% were sold at asking, and and 9% 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.
Connect With An Agent
Local real estate agents are ready to help you find a home here
Sell My Home
Sell your home with an expert or get the job done on your own.
Get Approved
Get a customizable mortgage solution based on today's rates.
Newest Listings in Spearfish, SD
What homes are available in Spearfish, SD?
Nearby markets
Popular Cities with Homes for Sale in South Dakota
MLS Disclaimers and Copyright
Based on information from Mount Rushmore MLS, Black Hills Association of REALTORS® MLS, and Sioux Empire MLS for the period 04/01/2023 - 04/01/2025
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/18/2025, 5:20:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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: 4/18/2025, 5:20:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.


©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: 4/18/2025, 5:20:49 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.