Pierre USDA Loan Rates, Closing Costs & Stats

Pierre, SD

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    • USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

    Pierre's 3 lenders originated 13 USDA loans during 2023. The total origination value was $2,625,000, with an average USDA loan value of $201,923.

    Pierre USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Pierre averaged 6.5% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Pierre's average USDA mortgage closing costs are $5,184.

    The average rate for the prior week (2024-04-12) was 6.66% and one month ago for the week of 2024-03-15, the average rate was 6.44%.

    The average rate one year ago was 6.08%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Pierre USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Pierre level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    BANKWEST, INC. 10 5.86% $4,779
    American Bank & Trust 1 6.25% $4,558
    First National Bank 1 6.00% $5,074

    The top Pierre USDA lender as defined by loan originations is BANKWEST, INC., with 10 USDA loans originated. Their average total fees are $4,779, which is $221 higher than the next largest lender, American Bank & Trust.

    The lowest fee Pierre USDA lenders (with over 10 loans originated) are BANKWEST, INC. ($4,779), .

    The lowest rate Pierre USDA lenders (with over 10 loans originated) are BANKWEST, INC. (5.86%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Pierre (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $188,000 (-7.4%) $245,261 (-8.7%) 0.00 100
    2018-02-01 $192,375 (-5.7%) $247,617 (-5.2%) 0.00 106
    2018-03-01 $188,500 (-3.3%) $245,282 (-0.8%) 0.00 110
    2018-04-01 $203,125 (-3.3%) $255,891 (1.4%) 0.00 121
    2018-05-01 $211,500 (5.8%) $259,444 (1.8%) 0.00 124
    2018-06-01 $197,800 (3.8%) $257,158 (3.9%) 0.00 118
    2018-07-01 $212,500 (11.8%) $260,425 (5.0%) 0.00 125
    2018-08-01 $228,475 (20.7%) $274,113 (11.9%) 0.00 128
    2018-09-01 $229,000 (23.9%) $273,029 (13.5%) 0.00 129
    2018-10-01 $229,425 (24.1%) $271,904 (12.3%) 0.00 127
    2018-11-01 $239,225 (29.7%) $274,152 (10.0%) 0.00 118
    2018-12-01 $229,900 (26.0%) $272,276 (9.4%) 0.00 116
    2019-01-01 $229,450 (22.1%) $271,470 (10.7%) 0.00 112
    2019-02-01 $235,000 (22.2%) $274,122 (10.7%) 0.00 107
    2019-03-01 $222,843 (18.2%) $266,178 (8.5%) 0.00 104
    2019-04-01 $217,993 (7.3%) $261,349 (2.1%) 0.00 105
    2019-05-01 $228,750 (8.2%) $261,974 (1.0%) 0.00 123
    2019-06-01 $251,500 (27.2%) $272,930 (6.1%) 0.00 123
    2019-07-01 $263,750 (24.1%) $281,964 (8.3%) 0.00 120
    2019-08-01 $265,182 (16.1%) $285,563 (4.2%) 0.00 116
    2019-09-01 $261,705 (14.3%) $285,147 (4.4%) 0.00 116
    2019-10-01 $259,386 (13.1%) $290,119 (6.7%) 0.00 115
    2019-11-01 $259,000 (8.3%) $296,082 (8.0%) 0.00 113
    2019-12-01 $277,500 (20.7%) $307,917 (13.1%) 0.00 90
    2020-01-01 $280,000 (22.0%) $311,843 (14.9%) 0.00 82
    2020-02-01 $289,750 (23.3%) $313,810 (14.5%) 0.00 76
    2020-03-01 $276,200 (23.9%) $310,043 (16.5%) 0.00 59
    2020-04-01 $272,375 (25.0%) $326,249 (24.8%) 0.00 56
    2020-05-01 $297,250 (30.0%) $353,007 (34.8%) 0.00 60
    2020-06-01 $312,725 (24.3%) $351,509 (28.8%) 0.00 67
    2020-07-01 $303,000 (14.9%) $352,103 (24.9%) 0.00 64
    2020-08-01 $307,000 (15.8%) $356,188 (24.7%) 0.00 61
    2020-09-01 $257,000 (-1.8%) $344,785 (20.9%) 0.00 59
    2020-10-01 $279,500 (7.8%) $344,502 (18.7%) 0.00 57
    2020-11-01 $244,950 (-5.4%) $340,063 (14.9%) 0.00 54
    2020-12-01 $277,500 (0.0%) $341,515 (10.9%) 0.00 50
    2021-01-01 $252,400 (-9.9%) $328,658 (5.4%) 0.00 45
    2021-02-01 $262,400 (-9.4%) $340,234 (8.4%) 0.00 38
    2021-03-01 $224,975 (-18.6%) $292,533 (-5.7%) 0.00 36
    2021-04-01 $192,300 (-29.4%) $275,095 (-15.7%) 0.00 27
    2021-05-01 $194,450 (-34.6%) $282,773 (-19.9%) 0.00 25
    2021-06-01 $272,450 (-12.9%) $320,362 (-8.9%) 0.00 21
    2021-07-01 $298,900 (-1.4%) $354,665 (0.7%) 0.00 24
    2021-08-01 $257,000 (-16.3%) $316,137 (-11.2%) 0.00 28
    2021-09-01 $293,750 (14.3%) $331,163 (-4.0%) 0.00 23
    2021-10-01 $330,000 (18.1%) $335,772 (-2.5%) 0.00 23
    2021-11-01 $347,000 (41.7%) $366,872 (7.9%) 0.00 21
    2021-12-01 $363,725 (31.1%) $368,159 (7.8%) 0.00 14
    2022-01-01 $385,000 (52.5%) $373,613 (13.7%) 0.00 12
    2022-02-01 $379,950 (44.8%) $370,494 (8.9%) 0.00 12
    2022-03-01 $388,500 (72.7%) $412,542 (41.0%) 0.00 18
    2022-04-01 $389,900 (102.8%) $409,653 (48.9%) 0.00 12
    2022-05-01 $345,500 (77.7%) $419,274 (48.3%) 0.00 14
    2022-06-01 $384,500 (41.1%) $442,353 (38.1%) 0.00 17
    2022-07-01 $349,500 (16.9%) $391,350 (10.3%) 0.00 23
    2022-08-01 $353,500 (37.6%) $401,266 (26.9%) 0.00 28
    2022-09-01 $360,000 (22.6%) $414,856 (25.3%) 0.00 22
    2022-10-01 $360,000 (9.1%) $403,967 (20.3%) 0.00 18
    2022-11-01 $344,225 (-0.8%) $397,354 (8.3%) 0.00 26
    2022-12-01 $370,000 (1.7%) $416,670 (13.2%) 0.00 20
    2023-01-01 $360,000 (-6.5%) $404,105 (8.2%) 0.00 17
    2023-02-01 $375,000 (-1.3%) $412,477 (11.3%) 0.00 14
    2023-03-01 $347,500 (-10.6%) $464,717 (12.7%) 0.00 22
    2023-04-01 $340,000 (-12.8%) $526,498 (28.5%) 0.00 25
    2023-05-01 $328,750 (-4.9%) $490,559 (17.0%) 0.00 28
    2023-06-01 $340,000 (-11.6%) $517,070 (16.9%) 0.00 32
    2023-07-01 $340,000 (-2.7%) $519,789 (32.8%) 0.00 35
    2023-08-01 $377,200 (6.7%) $516,103 (28.6%) 0.00 40
    2023-09-01 $374,250 (4.0%) $435,518 (5.0%) 0.00 35
    2023-10-01 $296,000 (-17.8%) $388,690 (-3.8%) 0.00 28
    2023-11-01 $287,425 (-16.5%) $369,965 (-6.9%) 0.00 33
    2023-12-01 $284,950 (-23.0%) $352,119 (-15.5%) 0.00 33
    2024-01-01 $313,250 (-13.0%) $413,261 (2.3%) 0.00 30
    2024-02-01 $344,500 (-8.1%) $436,758 (5.9%) 0.00 21
    2024-03-01 $369,000 (6.2%) $453,544 (-2.4%) 0.00 27
    Pierre's median listing price for 2024-03-01 was $369,000, a difference of $21,500 (6.2%) versus the prior year and $24,500 versus the prior month.

    Pierre's median listing price comes in at 0% of the national average.

    Pierre's average listing price for 2024-03-01 was $453,544, a difference of $-11,173 (-2.4%) versus the prior year and $16,786 versus the prior month.

    For the 2024-03-01 period, Pierre had 27 MLS listings, a difference of 6 listings (29%) versus the prior month and 5 listings (23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Pierre (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,321 sqft
    2018-02-01 0 days 1,355 sqft
    2018-03-01 0 days 1,290 sqft
    2018-04-01 0 days 1,389 sqft
    2018-05-01 0 days 1,389 sqft
    2018-06-01 0 days 1,355 sqft
    2018-07-01 0 days 1,344 sqft
    2018-08-01 0 days 1,454 sqft
    2018-09-01 0 days 1,479 sqft
    2018-10-01 0 days 1,462 sqft
    2018-11-01 0 days 1,462 sqft
    2018-12-01 0 days 1,420 sqft
    2019-01-01 0 days 1,456 sqft
    2019-02-01 0 days 1,406 sqft
    2019-03-01 0 days 1,341 sqft
    2019-04-01 0 days 1,304 sqft
    2019-05-01 0 days 1,343 sqft
    2019-06-01 0 days 1,434 sqft
    2019-07-01 0 days 1,475 sqft
    2019-08-01 0 days 1,492 sqft
    2019-09-01 0 days 1,490 sqft
    2019-10-01 0 days 1,488 sqft
    2019-11-01 0 days 1,488 sqft
    2019-12-01 0 days 1,580 sqft
    2020-01-01 0 days 1,600 sqft
    2020-02-01 0 days 1,600 sqft
    2020-03-01 0 days 1,491 sqft
    2020-04-01 0 days 1,480 sqft
    2020-05-01 0 days 1,602 sqft
    2020-06-01 0 days 1,624 sqft
    2020-07-01 0 days 1,608 sqft
    2020-08-01 0 days 1,584 sqft
    2020-09-01 0 days 1,488 sqft
    2020-10-01 0 days 1,488 sqft
    2020-11-01 0 days 1,420 sqft
    2020-12-01 0 days 1,487 sqft
    2021-01-01 0 days 1,438 sqft
    2021-02-01 0 days 1,376 sqft
    2021-03-01 0 days 1,216 sqft
    2021-04-01 0 days 1,389 sqft
    2021-05-01 0 days 1,378 sqft
    2021-06-01 0 days 1,436 sqft
    2021-07-01 0 days 1,312 sqft
    2021-08-01 0 days 1,392 sqft
    2021-09-01 0 days 1,514 sqft
    2021-10-01 0 days 1,476 sqft
    2021-11-01 0 days 1,720 sqft
    2021-12-01 0 days 1,684 sqft
    2022-01-01 0 days 1,653 sqft
    2022-02-01 0 days 1,760 sqft
    2022-03-01 0 days 1,645 sqft
    2022-04-01 0 days 1,714 sqft
    2022-05-01 0 days 1,540 sqft
    2022-06-01 0 days 1,774 sqft
    2022-07-01 0 days 1,664 sqft
    2022-08-01 0 days 1,545 sqft
    2022-09-01 0 days 1,605 sqft
    2022-10-01 0 days 1,633 sqft
    2022-11-01 0 days 1,536 sqft
    2022-12-01 0 days 1,540 sqft
    2023-01-01 0 days 1,526 sqft
    2023-02-01 0 days 1,578 sqft
    2023-03-01 0 days 1,526 sqft
    2023-04-01 0 days 1,511 sqft
    2023-05-01 0 days 1,540 sqft
    2023-06-01 0 days 1,568 sqft
    2023-07-01 0 days 1,511 sqft
    2023-08-01 0 days 1,520 sqft
    2023-09-01 0 days 1,538 sqft
    2023-10-01 0 days 1,418 sqft
    2023-11-01 0 days 1,244 sqft
    2023-12-01 0 days 1,260 sqft
    2024-01-01 0 days 1,260 sqft
    2024-02-01 0 days 1,357 sqft
    2024-03-01 0 days 1,357 sqft
    Pierre's median listing age (time on market) for 2024-03-01 was 0 days.

    Pierre's median square footage for active listings during the 2024-03-01 period was 1,357 sqft. One year prior, the average listing was 1,526 sqft.