42 homes break $1M sales mark

The number of homes sold for over $1 million in Sioux Falls doubled between 2020 and 2021.

Based on Argus Leader reporting throughout the year, 42 million-dollar homes were sold within Sioux Falls city limits in 2021. That’s compared to 28 properties in 2020, 20 houses in 2019 and 12 in 2018.

Part of that increase is due to the rising prices of homes across all markets, but it’s also due to the rising economy and growth around the Sioux Falls area, said Anne Ferrell, 2022 president of the Realtors Association of the Sioux Empire and realtor at Jamison Company Real Estate.

More: South Dakota No. 2 on list of top moving destinations in 2021.

Of the 28 Sioux Falls million-dollar home sales recorded in the Multiple Listing Service in 2021, only seven were bought by out-of-staters, Ferrell added. Only a portion of homes sold throughout the year are recorded in the MLS used by realtors. All 42 homes recorded by the Argus Leader were sourced through the Minnehaha and Lincoln County Offices of Equalization.