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Western South Dakota Trends 2026

Infographic of Mount Rushmore Area MLS commercial sale trends from 2023 to 2026 YTD, highlighting data for list prices, sale prices, days on market, and total sales volume.

The commercial market in the Northern Hills of western South Dakota has been notably consistent in sales activity over the past three completed years, with 98 closings in 2023, 101 in 2024, and 99 in 2025. Pricing over that stretch has moved steadily upward. Median sale price climbed from $450,006 in 2023 to $500,000 in 2024 and $535,000 in 2025, gains of 8%, 11%, and 7% respectively, which works out to a median annual appreciation rate of about 7% per year across the last four years. Average sale price has bounced around more, largely because a handful of large transactions can swing it in either direction. It rose 32% in 2023, gave back 8% in 2024, then rebounded 23% to $894,542 in 2025.

Total dollar volume followed a similar path, easing from $76.8 million in 2023 to $68.8 million in 2024 before reaching a four year high of $86.8 million in 2025. Marketing periods have been the least predictable measure. Median days on market ran 41 days in 2023, jumped to 100 days in 2024, and settled back to 45 days in 2025, while average days on market improved steadily from 210 to 184 days. List to sale price differentials have held in the 10% to 13% range throughout, which tells us buyers are consistently negotiating below asking. Through the partial 2026 year, 57 sales totaling $28.5 million have closed at an average of $633,740 and a median of $450,000, down 29% and 16% from the prior year, with median days on market at 79 and average days on market stretching out to 163. Those declines deserve some caution.

The year is incomplete, the smaller sample is more sensitive to which properties happened to sell. Taken as a whole, the Northern Hills commercial market shows significantly lower transaction volume in 2026, which is a cause for concern. Longer marketing times are standing out as a sign of softening. However, for the latest updates and trends in 2026, please contact Ferguson Appraisals LLC.

For other sources of Black Hills market trends, please see KW Commercial in Rapid City.

Northern Colorado Commercial Sales Market Report 2026

This graph above summarizes commercial property sales reported by the IRES and ReColorado MLS (Northern Colorado) for 2022 through 2026 (YTD), effective August 13, 2026. Annual closed sales volume totaled $217,642,267 in 2022, $178,691,277 in 2023, $227,306,259 in 2024 and $210,953,920 in 2025, with $120,263,178 reported in the current partial year. Closed transactions implied by that volume total 214, 170, 240 and 213 for the same four annual periods and 128 to date, a decline of 0% from the 2022 level. Average sale price measured $1,017,019, $1,051,125, $947,109 and $990,393 over those years, while the median moved from $565,000 to $550,000. Year-over-year change in the average was 3%, -10% and 5%, and change in the median was -12%, -11% and 24%, yielding a median annual change of -1% in the average and -9% in the median and indicating a downward price trend over the four-year period.

Marketing periods have shortened over the study period. Average days on market moved from 190 days in 2022 to 298 days in 2023, 185 days in 2024 and 132 days in 2025, measuring 118 days in the current partial year. Median days on market ranged from 183 to 250 days across the four annual periods and 208 days to date, supporting a reasonable exposure time of approximately 6 to 8 months for competitively priced commercial property. Closed prices have consistently settled below asking, with the average list-to-sale differential ranging from -1% to -21% and measuring -1% year to date; reported list volume includes active listings, so list-based statistics overstate closed activity and are relied upon only as secondary support. The year-to-date average of $939,556 and median of $510,000 stand 5% and 7% below the prior year on 128 closings, but reflect a partial year and a mix-sensitive sample and are given limited weight. The data indicate a softening commercial market with moderating transaction volume.

For a current detailed analysis of commercial trends in northern Colorado, please contact Dustin Ferguson with Ferguson Appraisals. Additional commercial sales statistics can be found via Crexi

Market data is compiled by Ferguson Appraisals, LLC, as provided by IRES MLS.

Wyoming Commercial Real Estate Trends & Sales Report (2026)

Graph illustrating year-to-date Wyoming MLS residential real estate sale statistics, comparing key market indicators and showing trends in sales activity across Wyoming through the current reporting period.
Graph illustrating year-to-date Wyoming MLS residential real estate sale statistics, comparing key market indicators and showing trends in sales activity across Wyoming through the current reporting period.

This graph above summarizes commercial property sales reported by the Wyoming MLS for 2022 through 2026 (YTD), effective August 12, 2026. Annual closed sales volume totaled $113,646,465 in 2022, $97,188,584 in 2023, $89,932,764 in 2024 and $97,495,429 in 2025, with $55,984,640 reported in the current partial year. Closed transactions implied by that volume total 216, 182, 161 and 145 for the same four annual periods and 101 to date, a decline of 33% from the 2022 level. Average sale price measured $526,141, $534,003, $558,588 and $672,382 over those years, while the median moved from $299,500 to $390,000. Year-over-year change in the average was 1%, 5% and 20%, and change in the median was 25%, -8% and 13%, yielding a median annual change of 3% in the average and 3% in the median and indicating an upward price trend over the four-year period.

Marketing periods have shortened over the study period. Average days on market moved from 327 days in 2022 to 224 days in 2023, 223 days in 2024 and 220 days in 2025, measuring 188 days in the current partial year. Median days on market ranged from 128 to 157 days across the four annual periods and 143 days to date, supporting a reasonable exposure time of approximately 4 to 5 months for competitively priced commercial property. Closed prices have consistently settled below asking, with the average list-to-sale differential ranging from -8% to -32% and measuring -12% year to date; reported list volume includes active listings, so list-based statistics overstate closed activity and are relied upon only as secondary support. The year-to-date average of $554,303 and median of $290,000 stand 18% and 26% below the prior year on 101 closings, but reflect a partial year and a mix-sensitive sample and are given limited weight. The data indicate a stable to modestly appreciating commercial market with moderating transaction volume.

For more detailed insights, feel free to reach out to Dustin Ferguson for the latest trends. Additional Wyoming sales statistics can be found at Crexi.com