The present housing market in North Spearfish is down with high active listings and low sales volume. The median home price has fallen to $490,000, a significant 21.0% decrease year-over-year. At the current sales pace, it would take over 11.0 months to sell all available homes in North Spearfish, indicating an oversupplied market. Sales volume is down 67% compared to seasonal expectations. Only 9.1% of listings saw price reductions, suggesting sellers are confident in their pricing. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the North Spearfish market with the affordability index at 1891.9. Based on current market indicators, home prices in North Spearfish are projected to decrease by approximately 17.4% over the next month.