New Listing
5
$77,000
Charles St Lot 14
Mitchell, SD 57301
0 ba
Land9,148 sqft lot
View photos & details
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Sarah Mitchell
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Compass Real Estate · Mitchell, SD
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Mitchell, SD(512) 555-0184TX License #0512847
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Mitchell, SD Housing Market
Seller's market+1.1% YoY
Zillow, August 2026 · Refreshes monthlyRedfin, through May 2026 · No longer updatingFreddie Mac via FRED, September 2026 · Refreshes weekly
The typical home in Mitchell, SD is worth $254,780, rose 1.1% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $206,500, -8.2% year over year (through May 2026). With 1.4 months of supply and homes going under contract in about 39 days, Mitchell is a seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $254,780 home is about $1,360/mo in principal and interest.
Key numbers for Mitchell, SD
Typical home value
$254,780
+1.1% in 12 months
Zillow, August 2026
Typical asking rent
$960/mo
Zillow Observed Rent Index
Zillow, August 2026
Median sale price
$206,500
-8.2% year over year
Redfin, through May 2026
Days on market
39
Average pace
Redfin, through May 2026
Active listings
33
1.4 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
$56,374
Home costs 4.5x income
U.S. Census ACS, 2023
Sale-to-list ratio
95.3%
Selling below asking
Redfin, through May 2026
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 Mitchell a buyer's or seller's market?
Seller's market1.4 months of supply39 days on market95.3% of asking
Mitchell, SD is a seller's market, based on 1.4 months of supply and homes selling in about 39 days. Under 2 months of supply is a severe shortage: expect competition on almost anything priced correctly, and little room to negotiate below asking.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Mitchell housing market data show?
Every row below is Redfin's final published month for Mitchell, SD. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $206,500 |
| Median list price | $298,950 |
| Year-over-year price change | -8.2% |
| Median price per sq ft | $142/sq ft |
| Median days on market | 39 days |
| Active inventory | 33 listings |
| Months of supply | 1.4 months |
| Sale-to-list price ratio | 95.3% |
| Homes sold (that month) | 24 |
| New listings (that month) | 18 |
| Listings with a price cut | 30.3% |
| Market condition | Seller'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 Mitchell is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Mitchell 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 Mitchell home prices moved?
Over the last three years the median sale price in Mitchell, SD fell 13.6%, from $239,000 to $206,500. The live Zillow value series has rose 1.1% in the last 12 months, which is the more current read now that Redfin's series has stopped. 30.3% of Mitchell listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay. For prices to fall meaningfully from here, supply would have to keep building past 1.4 months while the sale-to-list ratio slips below its current 95.3%. 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 Mitchell?
Priced off the typical home value of $254,780 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% | $50,956 | $203,824 | $1,360/mo |
| 5% | $12,739 | $242,041 | $1,615/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 $1,360, that implies roughly $58,292 a year before you add taxes and insurance. The median household in Mitchell earns $56,374, about $1,918 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 4.5x — above the historical 3x norm but in line with much of the country in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Mitchell in the next 12 months?
Tell us your timeline. We send the Mitchell 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 Mitchell?
Typical asking rent in Mitchell, SD is $960/mo, against a typical home value of $254,780. That is a price-to-rent ratio of 22.1x, which means renting tends to be the cheaper monthly option unless you stay long enough for appreciation to close the gap. Compared head to head, 20% down puts principal and interest at $1,360 a month — $401 more than renting before taxes and insurance, so the ownership case here rests on equity and appreciation rather than monthly cash flow.
Zillow, August 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Mitchell?
Active listings in Mitchell, SD went from 43 in May 2025 to 33 in May 2026, a -23.3% 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 |
|---|---|---|
| June 2025 | 47 | 20 |
| July 2025 | 49 | 19 |
| August 2025 | 50 | 18 |
| September 2025 | 48 | 15 |
| October 2025 | 53 | 28 |
| November 2025 | 49 | 10 |
| December 2025 | 50 | 14 |
| January 2026 | 36 | 7 |
| February 2026 | 42 | 18 |
| March 2026 | 46 | 21 |
| April 2026 | 39 | 25 |
| May 2026 | 33 | 18 |
Redfin, through May 2026
How does Mitchell compare to South Dakota and the U.S.?
Mitchell homes sell for $206,500 — 40% below the South Dakota median of $346,600. Against the national median of $410,700, Mitchell runs 50% lower. Year-over-year, Mitchell moved -8.2% against South Dakota's +4.3% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Mitchell, SD | $206,500 | -8.2% | 39 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 Mitchell
What buyers should watch
- Months of supply, currently 1.4. 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 30.3%. 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 $255 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 $254,780 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 Mitchell listing goes under contract in 39 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 95.3% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Mitchell added 18 new listings against 24 sales — more clearing than arriving, which is the better window to list.
- Your equity moved +1.1% 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 Mitchell varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Mitchell
There are currently 33 homes listed for sale in Mitchell, South Dakota. The median listing price is $299K. Featured listings range from $77,000 to $265,000.
New Listing
24
$90,000
116 N Ohlman St
Mitchell, SD 57301
1 bd1 ba440 sqft$205/ft²
House2.52 acres
View photos & details
New Listing
37
$93,000
220 W 7th Ave
Mitchell, SD 57301
1 bd1 ba668 sqft$139/ft²
House4,356 sqft lot
View photos & details
New Listing
43
$99,900
1016 W 3rd Ave
Mitchell, SD 57301
3 bd1 ba1,101 sqft$91/ft²
House6,970 sqft lot
View photos & details
New Listing
58
$165,000
1319 E Ash Ave
Mitchell, SD 57301
3 bd2 ba1,720 sqft$96/ft²
House6,970 sqft lot
View photos & details
New Listing
35
$169,000
420 W 9th Ave
Mitchell, SD 57301
1 bd1 ba687 sqft$246/ft²
House6,970 sqft lot
View photos & details
New Listing
23
$179,900
318 W 12th Ave
Mitchell, SD 57301
2 bd1 ba864 sqft$208/ft²
House8,712 sqft lot
View photos & details
New Listing
48
$219,000
603 E 6th Ave
Mitchell, SD 57301
3 bd1 ba1,755 sqft$125/ft²
House9,100 sqft lot
View photos & details
New Listing
$250,000
720 E 3rd Ave
Mitchell, SD 57301
4 bd2 ba1,946 sqft$128/ft²
House10,454 sqft lot
View photos & details
New Listing
26
$250,000
206 Charles St
Mitchell, SD 57301
2 bd2 ba1,008 sqft$248/ft²
House9,280 sqft lot
View photos & details
New Build
27
$256,000
1152 Woods Cir
Mitchell, SD 57301
2 bd1 ba1,050 sqft$244/ft²
House15,246 sqft lot
View photos & details
New Listing
33
$265,000
713 E 14th Ave
Mitchell, SD 57301
3 bd2 ba1,639 sqft$162/ft²
House11,326 sqft lot
View photos & details
Looking to buy in Mitchell?
Get connected with a local real estate expert — free, no obligation.
Active listings
33
Homes on market
Median list price
$299K
Avg. days on market
39
Days until sale
New this week
18
Newly listed
Price drops:30.3%of listings
Sale-to-list:95.3%
How much do homes cost in Mitchell by property type?
How the Mitchell, 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 | $206,500 | $142/sq ft | 24 | 39 days |
Who lives in Mitchell?
American Community Survey estimates for Mitchell. U.S. Census ACS, 2023
Population
15,637
Households
7,233
Median income
$56,374/yr
Median age
39.8 years
Owner-occupied
58.7%
Median home value
$182,000
Median gross rent
$754/mo
Mean commute
12 min
58.7% of occupied homes in Mitchell 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 $182,000 against Zillow's $254,780 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $754/mo, below Zillow's $960/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve Mitchell?
10 schools tracked · 2,730 students
The largest public schools serving Mitchell, SD by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Mitchell High School - 01
Grades 9-12 · 909 students
Mitchell Middle School - 02
Grades 6-8 · 609 students
L. B. Williams Elementary - 03
Grades K-5 · 444 students
Gertie Belle Rogers Elementary - 04
Grades K-5 · 382 students
Longfellow Elementary - 05
Grades K-5 · 312 students
Abbott House High School - 07
Grades 9-12 · 30 students
Rosedale Colony Elementary - 11
Grades K-8 · 24 students
Abbott House Elementary - 06
Grades K-8 · 8 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Mitchell, SD?
Ordered by distance from Mitchell, not by size. Compare Mitchell side by side with any of them.
Which ZIP codes are in Mitchell?
These are the ZIP codes we see on active Mitchell listings. Redfin did not publish a matching ZIP-level sale row for the same period, so we are not ranking them by price here — each ZIP page shows exactly what we hold for it.
Mitchell housing market FAQ
Is Mitchell a buyer's or seller's market?
Mitchell, SD is currently a seller's market. That read comes from 1.4 months of supply, homes going under contract in about 39 days, and sellers getting 95.3% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Mitchell?
The typical home in Mitchell, SD is worth $254,780 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $206,500, about $142 per square foot.
Is Mitchell cheaper than the rest of South Dakota?
Mitchell's median sale price of $206,500 is 40% lower than the South Dakota statewide median of $346,600, and 50% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Mitchell?
Homes in Mitchell, SD spent a median of 39 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 Mitchell?
At the current 30-year fixed rate of 7.03%, 20% down on a $254,780 home is about $1,360 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $58,292 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $56,374.
Are home prices rising in Mitchell?
The typical home value in Mitchell, SD rose 1.1% over the last 12 months, from $252,011 to $254,780 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Mitchell?
Mitchell 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 Mitchell?
That depends on your timeline, not on a headline. What the data says today: Mitchell, SD is a seller's market with 1.4 months of supply, the 30-year fixed rate is 7.03%, and the price-to-rent ratio of 22.1x means renting tends to be the cheaper monthly option unless you stay long enough for appreciation to close the gap. Properties Incorporated publishes the data; it does not give financial advice.
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