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Featured local agent — Lake Poinsett, SD
Sarah Mitchell
Compass Real Estate · Lake Poinsett, SD
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Lake Poinsett, SD Housing Market
The last median sale price Redfin published was $715,000 (through May 2026). With 3.0 months of supply and homes going under contract in about 31 days, Lake Poinsett is a balanced market. At today's 7.03% 30-year fixed rate, 20% down on a $715,000 home is about $3,817/mo in principal and interest.
Key numbers for Lake Poinsett, SD
Median sale price
$715,000
Last published period
Redfin, through May 2026
Days on market
31
Average pace
Redfin, through May 2026
Active listings
6
3.0 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$101,136
Home costs 7.1x income
U.S. Census ACS, 2023
Sale-to-list ratio
95.0%
Selling below asking
Redfin, through May 2026
Zillow figures 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 Lake Poinsett a buyer's or seller's market?
Lake Poinsett, SD is a balanced market, based on 3.0 months of supply and homes selling in about 31 days. Under 4 months of supply tilts the market toward sellers: homes clear faster than they are replaced, so concessions are scarce.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Lake Poinsett housing market data show?
Every row below is Redfin's final published month for Lake Poinsett, SD. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $715,000 |
| Median list price | $600,000 |
| Median price per sq ft | $268/sq ft |
| Median days on market | 31 days |
| Active inventory | 6 listings |
| Months of supply | 3.0 months |
| Sale-to-list price ratio | 95.0% |
| Homes sold (that month) | 2 |
| New listings (that month) | 1 |
| Listings with a price cut | 16.7% |
| Market condition | Balanced 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 Lake Poinsett is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Lake Poinsett 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 Lake Poinsett home prices moved?
Across the 23 months we hold for Lake Poinsett, SD, the median sale price rose 161.9%, from $273,000 in May 2021 to $715,000. 16.7% of Lake Poinsett listings cut their asking price in the final Redfin month — a modest share, which is what a market looks like when sellers are pricing close to where homes actually clear. For prices to fall meaningfully from here, supply would have to keep building past 3.0 months while the sale-to-list ratio slips below its current 95.0%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Lake Poinsett?
Priced off the median sale price of $715,000 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% | $143,000 | $572,000 | $3,817/mo |
| 5% | $35,750 | $679,250 | $4,533/mo |
Redfin, through May 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 $3,817, that implies roughly $163,588 a year before you add taxes and insurance. The median household in Lake Poinsett earns $101,136, about $62,452 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the median sale price to fit the 28% rule. That puts the price-to-income ratio at 7.1x — 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 Lake Poinsett in the next 12 months?
Tell us your timeline. We send the Lake Poinsett 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 Lake Poinsett?
Zillow does not publish a rent index (ZORI) for Lake Poinsett, 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 Lake Poinsett?
Active listings in Lake Poinsett, SD went from 2 in August 2022 to 6 in May 2026, a +200.0% change. Rising inventory is the single most useful leading indicator for buyers: more choice, longer marketing times, and more sellers willing to negotiate before price cuts show up in the median.
| Month | Active listings | New listings |
|---|---|---|
| June 2023 | 6 | 3 |
| July 2023 | 4 | 1 |
| August 2023 | 1 | not published |
| July 2024 | 1 | 1 |
| September 2024 | 2 | 1 |
| November 2024 | 1 | not published |
| February 2025 | 2 | not published |
| March 2025 | 1 | 1 |
| June 2025 | 5 | 1 |
| March 2026 | 7 | 6 |
| April 2026 | 7 | 3 |
| May 2026 | 6 | 1 |
Redfin, through May 2026
How does Lake Poinsett compare to South Dakota and the U.S.?
Lake Poinsett homes sell for $715,000 — 106% above the South Dakota median of $346,600. Against the national median of $410,700, Lake Poinsett runs 74% higher.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Lake Poinsett, SD | $715,000 | not published | 31 days |
| South Dakota statewide | $346,600 | +4.3% | 49 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Lake Poinsett
What buyers should watch
- Months of supply, currently 3.0. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 16.7%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $716 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 $715,000 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 Lake Poinsett listing goes under contract in 31 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 95.0% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Lake Poinsett added 1 new listings against 2 sales — more clearing than arriving, which is the better window to list.
- Comparable ZIP-level pricing inside Lake Poinsett varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Lake Poinsett
There are currently 6 homes listed for sale in Lake Poinsett, South Dakota. The median listing price is $600K.
Active listings
6
Homes on market
Median list price
$600K
Avg. days on market
31
Days until sale
New this week
1
Newly listed
How much do homes cost in Lake Poinsett by property type?
How the Lake Poinsett, SD market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $715,000 | $268/sq ft | 2 | 31 days |
Who lives in Lake Poinsett?
American Community Survey estimates for Lake Poinsett. U.S. Census ACS, 2023
Population
413
Households
178
Median income
$101,136/yr
Median age
58.2 years
Owner-occupied
100.0%
Median home value
$446,600
Mean commute
34.2 min
100.0% of occupied homes in Lake Poinsett 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.
Which cities are near Lake Poinsett, SD?
Ordered by distance from Lake Poinsett, not by size. Compare Lake Poinsett side by side with any of them.
Lake Poinsett housing market FAQ
Is Lake Poinsett a buyer's or seller's market?
Lake Poinsett, SD is currently a balanced market. That read comes from 3.0 months of supply, homes going under contract in about 31 days, and sellers getting 95.0% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Lake Poinsett?
The median sale price in the last month Redfin published was $715,000, about $268 per square foot.
Is Lake Poinsett cheaper than the rest of South Dakota?
Lake Poinsett's median sale price of $715,000 is 106% higher than the South Dakota statewide median of $346,600, and 74% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Lake Poinsett?
Homes in Lake Poinsett, SD spent a median of 31 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 Lake Poinsett?
At the current 30-year fixed rate of 7.03%, 20% down on a $715,000 home is about $3,817 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $163,588 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $101,136.
Are home prices rising in Lake Poinsett?
We do not hold a complete 12-month value series for Lake Poinsett, SD yet, so we are not going to call a direction. The price chart above shows every period we do have.
What are the cheapest ZIP codes in Lake Poinsett?
Lake Poinsett 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 Lake Poinsett?
That depends on your timeline, not on a headline. What the data says today: Lake Poinsett, SD is a balanced market with 3.0 months of supply, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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One email: what homes are actually clearing at around $715,000, how long they sit, which ZIPs run cheaper, and what to fix on your credit before you apply.