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.
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.
As more people moved to Sioux Falls in the past two years, the need for housing has grown. Local Sioux Falls residents are choosing to upgrade their living situations by selling their homes and buying more expensive properties, Ferrell estimated.
“It makes sense when looking at the economy and the business structure for corporations and medical companies,” Ferrell said. “We’re going to see a continued demand for homes with the business growth that’s here. You’ll see a continued collaboration between the builders, realtors, developers and city in working on housing.”
Ferrell expects that number to remain high going into 2022 as prices overall continue to rise due to demand and as more businesses choose to locate in Sioux Falls, bringing a range of workers and families with different income levels.
Home prices across all markets are expected to rise 3-5% nationally in 2022, and Ferrell says that’s consistent with the Sioux Falls area.
The majority of the homes sold for over $1 million in Sioux Falls in 2021 are south of I-229. However, there are a handful of homes located on the eastern edge of Sioux Falls near Willow Run Golf Course.
A handful of homes sold outside of the Sioux Falls city limits in Harrisburg, Renner and Garretson for over $1 million — two properties sold for over $2 million. The most expensive sale across the entire Sioux Falls metro area was a $2.8 million property in Harrisburg.
Here are the top 10 homes that broke the million-dollar mark in Sioux Falls city limits in 2021:
The most expensive home sale of 2021 in the Sioux Falls area was not filed with the Minnehaha County Equalization Office until Dec. 28, 2021. While the office did confirm the sale went through, it had been sold earlier in the year for just over $1.5 million — so the sale price of the house increased by nearly 48% in just four months.
The five-bed, 2.5-bath mansion on the edge of Sioux Falls and Brandon at 217 Fairway Circle offers 10,483 square feet of space sprawling over nearly six acres of wooded land bordering the river and Willow Run Golf Course. The expansive layout includes five European-inspired outdoor living spaces with fountains and gardens, a library, indoor heated pool, sauna, exercise room and more.
The four-bed, three-and-a-half-bath home at 5236 S. Sweetbriar Court in Sioux Falls offers 5,600 square feet. It sits on less than an acre lot but has walkout views of the Prairie Green Golf Course.
A six-bedroom and six-bathroom home, at 713 E. Silver Pond Place in the Grand Prairie Estates neighborhood, is 7,003 square feet on a 1.6-acre lot in southeastern Sioux Falls. The home, sold for $1.95 million, also features a wine cellar, two full kitchens, theater room and direct access to the neighborhood pond.
The six-bedroom, 4.5-bathroom home at 2500 W. Timber Oak Trail sits on over one acre of land and boasts 16-foot ceilings, a wine cellar and tasting room, theater room and more.
The six-bed, four-and-a-half-bath home at 9004 E. Torrey Pine Circle offers 5,130 square feet on top of just over 1.5 acres of land. The home, situated near Willow Run Golf Course near the Big Sioux River, also features a backyard pool and a heated garage that can accommodate up to six vehicles.
The seven-bedroom mansion in west-central Sioux Falls spans across two addresses at 42 and 43 S. Riverview Heights, covering over one acre of land with 8,484 square feet in the main house. The mansion also includes a guest house and pool on the property, which also features three baths and four bedrooms with over 3,000 square feet of living space. The estate also had a 10-stall garage.
The five-bedroom, five-bath home at 200 E. Twin Oaks Road offers 5,020 square feet on 1.2 acres of land. The home features a pool and a sunroom.
The three-bedroom, four-and-a-half bathroom house at 5009 S. Old Yankton Place offers 3,738 square feet over a 1.3-acre lot inside the city. In addition to the home itself, which features two full-size kitchens, 12-foot ceilings and a four-stall garage, the property also boasts a pool, greenhouse and 1,050-square-foot guest house complete with its own kitchen.
The six-bedroom and six-and-a-half-bathroom home at 7109 S. Honors Drive was built in 2013.
The four-bed, four-and-a-half-bath home at 3033 W. Donahue Drive in Sioux Falls offers about 5,361 square feet and sold for $1.5 million. It sits on under a half acre of land.