The median home sale price in Sioux Falls has hovered around $330,000 to $339,000 through 2025 and 2026, according to Redfin and Resideline's market tracking. So a townhome listed at $725,000 stands out, and it should. This note walks through exactly what that price buys at 2813 S Terry Ave, and why the gap with the citywide median isn't the whole story.
First, the medians
Redfin's Sioux Falls data showed a median sale price of roughly $333,000 in 2025, with 2026 readings near $335,000, and Resideline's six-month sales analysis put the median around $335,000 as well. Citywide medians mix starter homes, condos, and everything in between, so they understate what premium, newer, lake-adjacent properties trade for.
Sources: Redfin Sioux Falls housing market and Resideline's Sioux Falls market report .
What the price buys at this address
Start with the space: 2,468 finished square feet across three levels, with the main level at 733, the upper level at 1,002, and the lower level at 733. Both bedrooms are upstairs, and both are suites with private baths, which is a layout buyers pay for in the townhome market.
- Chef's kitchen: ceiling-height custom cabinets, quartz and granite, gas cooktop with custom hood, walk-in pantry
- Primary suite with heated bathroom floors, tiled shower with a small step-over, walk-in closet, and a deck over Lake Lorraine
- Finished lower level with family room, gas fireplace, wet bar, and wine refrigerator
- Attached two-car heated garage with epoxy floor and hot and cold water
- 2018 construction with pre-wired surround sound throughout, including the patio deck and the garage, plus a security system and underground sprinkler
- Seller-paid 12 months of HOA dues with an acceptable offer
Why the location carries the premium
The townhome sits in Lake Lorraine, Sioux Falls' master-planned lakeside district: a 33-acre private lake, a one-mile lake walk, shopping and dining on site, and a newer built environment. Water-facing and lake-adjacent addresses in a mixed-use district are a different product category than a typical subdivision home, and they're priced that way.
The HOA at $365 per month covers garbage, snow removal, and lawn care, so the price also buys you out of exterior maintenance. Add a security system and an attached heated garage, and this is a true lock-it-and-leave-it home, which matters to buyers trading a house for a lifestyle on the lake.
A listing price is what the seller is asking, not a promise about appraised value. The way to test whether this price makes sense for you is a private tour, a close read of the disclosures, and a conversation about your financing.
The bottom line
Compared with the citywide median, $725,000 is a premium price. Compared with what it buys, a newer, suite-layout townhome with lake views in a walkable district, it is a specific product with specific buyers. If you're one of them, see it in person.
Tour 2813 S Terry Ave
About the author
Jennifer Krosch
Realtor with eXp Realty · Broker Associate · 21816 · SD. Jennifer is the listing agent for this property and can break down the numbers, the HOA, and the neighborhood in plain language.