RAPID CITY, S.D. – The residential housing market across Rapid City and the Black Hills region experienced a quarter of mixed signals during the third quarter of 2025 (July through September). While overall prices continued an upward climb year-over-year, the number of homes on the market increased, and properties took longer to sell in key zip codes, indicating a gradual market shift toward buyers in some segments.
An analysis of statistics in areas including 57701, 57702, 57703, 57706, 57709, 57719, and 57769 provides a snapshot of the region’s dynamic real estate landscape.
Overall Rapid City and Area Median Sale Prices
The Rapid City area as a whole saw a continued rise in median sale price. The median sale price in August 2025 was $364,000, reflecting a 3.7 percent increase compared to the previous year. The typical home value for Rapid City was $358,176 through August 31, 2025, up 2.5 percent over the last 12 months.
The priciest area among the core city zip codes was 57702, which showed significant appreciation:
- 57702 (West Rapid City/Black Hills): This zip code led in median price, with a typical home value of $444,026 through August 31, 2025, a robust 3.8 percent increase year-over-year. The median sale price in August 2025 was $462,500, marking an 8.3 percent increase from August of the previous year.
- 57701 (Central Rapid City): Typical home value reached $299,859 through August 31, 2025, a 2.6 percent gain over the previous year. The median sale price in July was $297,917.
- 57703 (South Rapid City): Typical home values reached $354,325 through August 31, 2025, up 1.7 percent annually. The median sale price in July was $356,467.
- Black Hills Regions: Listings in 57769 and 57719 reflected median prices of approximately $699,900 and $369,900 respectively. Specific, recent median sale prices for 57706 and 57709 were not available for the quarter.
Inventory Levels and Market Time
The number of houses for sale has increased, easing the competitive pressure seen in previous quarters, while homes are spending more time listed before sale:
- Days on Market: The median days on market for Rapid City homes was 59 days in September 2025, indicating a lengthening sale cycle. The 57702 zip code specifically saw its median days on market jump to 66 days in August 2025, a notable increase from 49 days the previous year.
- Number of Houses for Sale: The Rapid City area as a whole had 793 active listings in September 2025, a rise in supply. Inventory was distributed as follows as of August 2025:
- 57702: 194 homes for sale.
- 57701: 184 homes for sale.
- 57703: 80 homes for sale.
Lowest and Highest Price Listings
The broad nature of the Rapid City and Black Hills market is best illustrated by the extremes of the price spectrum observed in the third quarter:
- Lowest Price Listing: The lowest-priced properties available were typically manufactured or small single-family homes. Listings were seen as low as $30,000 in the greater Rapid City area, and a home in 57702 was listed for $79,900.
- Highest Price Listing: At the upper end of the luxury market, the most expensive active listings were consistently found in the 57702 and 57701 zip codes. Listings in 57701 reached $2,150,000, and listings in 57702 were observed near the $4.9 million mark, with properties actively listed above $1.8 million, reflecting the high value placed on premier Black Hills luxury estates.