Photo: devriesm · CC BY 2.056 homes sold in Hot Springs in the last year, at a typical $256K
Almost every sale is a house. Below: what each kind of home sells for, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Hot Springs homes are listed.
Every place Hot Springs homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Hot Springs.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
Houses are 0% of Hot Springs’ sales, at a typical — (year to May 2026)
56 homes sold in the year to September 2026.
About as many homes sell as usual, at twice the 2016 price
56 sales in the last year, against 83 in 2020 and a low of 0 in 2012. The typical sale went from $133K in 2016 to $256K.
Source: Redfin Data Center, MLS sales; from June 2026 each month is a 3-month rolling window, its counts divided by 3. Typical price and $/sq ft are the monthly medians, weighted by sales. Redfin stopped publishing towns’ figures by property type after May 2026, so houses and condos are shown for the year to then.
Bidding wars in Hot Springs are rarer than before the pandemic, and more homes are for sale
We read every month of Hot Springs’ home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to September 2026, 56 sales.
If you’re buying in Hot Springs
- Shop in September. It brings about 7 new listings a month, close to the busiest month, with fewer bidding wars (9% over asking).
- Offer under asking. Buyers paid 94.5% of the list price on average; 0% paid over.
- You’ll usually have time. Only 20% of homes go under contract within two weeks; the typical one takes 103 days.
Summer brings the homes; winter brings the bidding wars
July has the most new listings (about 9 a month), but February is the most competitive: 14% of February sales close over asking. August and September offer nearly as much choice with fewer homes bid up (11%). November has the least competition (8%) but only about 5 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and calmer than South Dakota
| Hot Springs now | 2017–19 | 2021 peak | SD now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 0% | 8% | 25% | 15% |
| Gone within two weeksShare of homes under contract within 14 days | 20% | 0% | 1% | 28% |
| Price paid vs. askingAverage sale price ÷ list price | 94.5% | 94.6% | 98.1% | 97.4% |
| Days to sellMedian days from listing to contract | 103 | 102 | 69 | 61 |
34 homes for sale on a typical day
That’s 21.3 times the 2012 low (2) and 21% more than in 2017–19.
Source: Redfin Data Center, city figures, January 2012 to September 2026 (MLS sales, not seasonally adjusted; from June 2026 each month is a 3-month rolling window, its counts divided by 3). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Hot Springs home costs about $1,574 a month
Price: Hot Springs’ typical sale, last 12 months. Property tax at Hot Springs’ 1.1% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Hot Springs is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in July
The month with the most choice. February has the fewest, about 3.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $256K home, about $2,850 a year.
Taxes vs. neighborsSchools
The schools grade for Hot Springs, from test results, graduation and how much students grow.
Schools in Hot SpringsTypical commute
The average one-way trip to work for people who live in Hot Springs.
Work & commuteCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Post your home to Hot Springs, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Hot Springs. People who follow the town see it, and so do people comparing Hot Springs with their own town. No commission, no listing fee.
Questions about buying a home in Hot Springs
What do homes sell for in Hot Springs, SD?
56 homes sold in the year to September 2026 at a typical $256K, $172 a square foot.
Is Hot Springs a buyer’s or seller’s market?
A buyer’s market: 32 homes were for sale in September 2026 and 3 sold, about 10.7 months of supply. Buyers paid 94.5% of asking on average.
When is the best time to buy in Hot Springs?
July brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Hot Springs?
About 1.1% of a home’s value a year. On a $256K home that’s near $2,850.
Where can I see homes for sale in Hot Springs?
Zillow, Redfin, Realtor.com and Homes.com all carry Hot Springs’ MLS listings; the search links above open each one filtered to Hot Springs.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted; from June 2026 each month is a 3-month rolling window, its counts divided by 3). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).