$1,995,000
- 2 Beds
- 3 Baths
- 2,287 Sq Ft
1790 Lookout Mountain Rd, Spearfish, SD 57783
JD Hewitt HEWITT LAND COMPANY
$1,995,000
1790 Lookout Mountain Rd, Spearfish, SD 57783
JD Hewitt HEWITT LAND COMPANY
$799,000
735 N 8th St, Spearfish, SD 57783
Elizabeth Frederick SOUTH DAKOTA PROPERTIES
$675,000
314 N 5th St, Spearfish, SD 57783
Heath Gran Great Peaks Realty
$3,799,000
1931 Russell St, Spearfish, SD 57783
Heath Gran Great Peaks Realty
$1,800,000
230 N Main St, Spearfish, SD 57783
Kade Welfl THE REAL ESTATE CENTER OF SPEARFISH
Spearfish, South Dakota, known as "The Queen City," is a suburban area surrounded by three peaks in the northern Black Hills. With a population of 13,000, it attracts families, retirees, and second-homeowners due to its natural beauty and small-town atmosphere. Located 45 miles from Rapid City and 12 miles east of Wyoming, Spearfish offers a robust economy with industries such as tourism, health care, education, mining, and timber. The Spearfish School District is highly rated, serving 2,423 students across three elementary schools, a middle school, and a high school. Black Hills State University, a four-year public university, is also located here. Housing options range from modest manufactured homes to luxury estates, with new homes continually being built. Outdoor activities are abundant, including hiking, rock climbing, skiing, and fly-fishing, with over 50 miles of trails and popular spots like Big Hill and Eagle Cliff. The city has 16 developed parks connected by an 8-mile path, sports fields, a skate park, and a winter ice rink. Downtown Spearfish is walkable, featuring dining, shopping, and entertainment options, including the Matthews Opera House and Art Gallery. Interstate 90 runs through the city, and the Rapid City Regional Airport is 50 miles away.
On average, homes in Spearfish, SD sell after 75 days on the market compared to the national average of 70 days. The median sale price for homes in Spearfish, SD over the last 12 months is $670,000, up 20% from the median home sale price over the previous 12 months.
In Spearfish, there are currently 5 multi-family homes for sale, providing an appealing investment opportunity for buyers. With multi-family homes priced between $675,000 to $3,799,000, there's a range to accomodate every budget. As of August, 2025 the median home price in Spearfish is $749,000, while the average sale price is $698,849, offering insights into the local housing market. On average, multi-family homes spend 75 days listed before being sold. Multi-family homes include a variety of property types, from duplexes, triplexes, and fourplexes, to apartment complexes, all within a single building divided to accommodate multiple families living separately. These multi-family properties for sale offer investors the chance to generate rental income. Whether you're considering a duplex for a beginner investment or an apartment complex for a more substantial venture, there are investment properties available to meet your requirements. Explore the range of multi-family homes for sale in Spearfish, SD.