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Featured local agent — Keystone, SD
Sarah Mitchell
Compass Real Estate · Keystone, SD
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Keystone, SD Housing Market
The typical home in Keystone, SD is worth $623,619, fell 0.5% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $507,500 (through May 2026). With homes going under contract in about 53 days, Keystone is a buyer's market. At today's 7.03% 30-year fixed rate, 20% down on a $623,619 home is about $3,329/mo in principal and interest.
Key numbers for Keystone, SD
Typical home value
$623,619
-0.5% in 12 months
Zillow, August 2026
Median sale price
$507,500
Last published period
Redfin, through September 2025
Days on market
53
Average pace
Redfin, through September 2025
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$62,159
Home costs 10.0x income
U.S. Census ACS, 2023
Sale-to-list ratio
95.9%
Selling below asking
Redfin, through September 2025
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Keystone a buyer's or seller's market?
Keystone, SD is a buyer's market and homes selling in about 53 days. We classify markets from months of supply, sale-to-list ratio and days on market together — no single number decides it.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Keystone housing market data show?
Every row below is Redfin's final published month for Keystone, SD. Redfin, through September 2025
| Metric | Value |
|---|---|
| Median sale price | $507,500 |
| Median price per sq ft | $317/sq ft |
| Median days on market | 53 days |
| Sale-to-list price ratio | 95.9% |
| Homes sold (that month) | 2 |
| Market condition | Buyer's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Keystone is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Keystone is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Keystone home prices moved?
Across the 9 months we hold for Keystone, SD, the median sale price rose 42.0%, from $357,500 in May 2021 to $507,500. The live Zillow value series has fell 0.5% in the last 12 months, which is the more current read now that Redfin's series has stopped.
Redfin, through September 2025 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Keystone?
Priced off the typical home value of $623,619 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $124,724 | $498,895 | $3,329/mo |
| 5% | $31,181 | $592,438 | $3,953/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $3,329, that implies roughly $142,681 a year before you add taxes and insurance. The median household in Keystone earns $62,159, about $80,522 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the typical home value to fit the 28% rule. That puts the price-to-income ratio at 10.0x — well above the 3x that was historically considered affordable, which is why down payment size drives who can buy here.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Keystone in the next 12 months?
Tell us your timeline. We send the Keystone market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Keystone?
Zillow does not publish a rent index (ZORI) for Keystone, SD, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Keystone?
Active listings in Keystone, SD went from 4 in May 2021 to 1 in December 2024, a -75.0% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| May 2021 | 4 | 3 |
| July 2021 | 4 | 2 |
| August 2021 | 2 | not published |
| October 2021 | 1 | 1 |
| December 2024 | 1 | not published |
Redfin, through December 2024
How does Keystone compare to South Dakota and the U.S.?
Keystone homes sell for $507,500 — 46% above the South Dakota median of $346,600. Against the national median of $410,700, Keystone runs 24% higher.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Keystone, SD | $507,500 | not published | 53 days |
| South Dakota statewide | $346,600 | +4.3% | 49 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through September 2025 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Keystone
What buyers should watch
- The gap between 5% and 20% down here is $624 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $623,619 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Keystone listing goes under contract in 53 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 95.9% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- Your equity moved -0.5% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Keystone varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Keystone
Explore homes currently listed for sale in Keystone, South Dakota across major real estate platforms.
How much do homes cost in Keystone by property type?
How the Keystone, SD market breaks down across single-family homes, condos and townhouses. Redfin, through September 2025
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $507,500 | $317/sq ft | 2 | 53 days |
Who lives in Keystone?
American Community Survey estimates for Keystone. U.S. Census ACS, 2023
Population
404
Households
138
Median income
$62,159/yr
Median age
37 years
Owner-occupied
67.4%
Median home value
$188,800
Median gross rent
$690/mo
Mean commute
29 min
67.4% of occupied homes in Keystone are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $188,800 against Zillow's $623,619 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions.
Which cities are near Keystone, SD?
Ordered by distance from Keystone, not by size. Compare Keystone side by side with any of them.
Keystone housing market FAQ
Is Keystone a buyer's or seller's market?
Keystone, SD is currently a buyer's market based on the supply, pace-of-sale and sale-to-list data we hold for this city. Redfin's public market tracker last published in May 2026, so this classification will not move until a new source fills that gap.
How much do homes cost in Keystone?
The typical home in Keystone, SD is worth $623,619 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $507,500, about $317 per square foot.
Is Keystone cheaper than the rest of South Dakota?
Keystone's median sale price of $507,500 is 46% higher than the South Dakota statewide median of $346,600, and 24% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Keystone?
Homes in Keystone, SD spent a median of 53 days on market before going under contract, versus 49 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in Keystone?
At the current 30-year fixed rate of 7.03%, 20% down on a $623,619 home is about $3,329 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $142,681 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $62,159.
Are home prices rising in Keystone?
The typical home value in Keystone, SD fell 0.5% over the last 12 months, from $627,016 to $623,619 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Keystone?
Keystone ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Keystone?
That depends on your timeline, not on a headline. What the data says today: Keystone, SD is a buyer's market, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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