SIOUX FALLS, S.D. (KELO) — A former ski resort near Lead, South Dakota is home to South Dakota’s first-ever $1 million one-acre residential lot, according to Keating Resources, the developer of Deer Mountain Village, a private community overlooking the Black Hills.
In a release on the sale, Keating CEO Gerard Keating described the 660-acre development as a luxury mountaintop adventure community.
Deer Mountain was an operating ski resort from 1967 to 2017, and the Keating family bought it in 2021.
The resort, five miles south of Lead, was initially sold at a sheriff’s auction after the previous owners defaulted on $3.7 million in loans. The resort at the time had 850 feet of vertical runs.
In the release, Keating lists amenities including two ski lifts with 27 runs which offer a 600-foot vertical drop, a private 956-foot snow tubing hill, nine miles of walking and biking trails, a spring-fed trout fishing pond, a 6,700-square-foot clubhouse with a year-round heated pool, three multi-purpose sports courts, and a private 220-acre wilderness area.
In total, Keating says that the 187 one-acre single-family home development is now 35% sold, with 20% of buyers being from Texas.
Keating says buyers come from a total of 10 states, and that closed sales so far exceed $10 million.
