In an article in the March 4, 2007 Rapid City Journal, the housing market in Rapid City, South Dakota was reviewed.

As sited in the article, the median price for homes sold through the Black Hills Board of Realtors in the year 2006 was $147,900, up only 2.7% over the median prices in 2005.  The average price for the year 2007 was also up about the same amount to $164,000.  The total number of single family homes, vacation homes, and mobile homes sold in 2006 was down about 1%.  The total value of homes sold was up about $6 million dollars for a total of $384 million.  The average days on the market for 2006 was 73 days which was better than the 2007 average days on the market at 112 days.