Is Waterford, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Waterford is a seller's market

Buyer's
Market

Difference Since May 2021

Since last year, Waterford has remained a Seller's Market.

Key Takeaway

Waterford is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Waterford, MI cost?

Median Sold Price

$225,000

$167/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$21,254(+10.4%)

Key Takeaway

Homes in Waterford have sold for 10.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 $45.7K$60K
+31.3%
2 $145K$164.5K
+13.4%
3 $213.7K$237K
+10.9%
4 $259K$322.5K
+24.5%
5+ $334.9K$375K
+12.0%

Median Sold Price Compared To Nearby Cities

Keego Harbor
+26.5%
Waterford
+10.4%
Waterford Charter Township
+10.4%
Sylvan Lake
+8.0%

How many homes are available in Waterford, MI?

Number of Homes For Sale

Apr 2022May 2022%
277304+9.7%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 139
-30.8%
2 5149
-3.9%
3 155177
+14.2%
4 4557
+26.7%
5+ 1312
-7.7%

Number of Homes Sold

Apr 2022May 2022%
82100+22.0%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

65 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Waterford, you could pay more than the asking price. 65% of homes here sold above asking price last month.

Average Sale Time

May 2021May 2022%
12 Days14 Days+17.8%

Breakdown of Home Sale Times

84 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Waterford are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Waterford, MI

There are 304 homes are for sale in Waterford, MI real estate market. The inventory of homes for sale in Waterford, MI between April 2022 and May 2022 increased by 9.7%. While the average time on the market in May 2022 was 14 days, the median list price was $225,000. Between April 2022 and May 2022, listing prices of homes in this real estate market have seen the following changes: the cost of 1 bedroom properties went up by 31.3%, 2 bedrooms properties prices increased by 13.4%, 3 bedrooms properties became 10.9% more expensive, 4 bedrooms properties became 24.5% more expensive, prices of 5 bedrooms properties increased by 12%. Volume of homes for sale changed: number of 1 bedroom homes decreased by 30.8%, volume of 2 bedrooms homes went down by 3.9%, 3 bedrooms homes inventory increased by 14.2%, volume of 4 bedrooms homes went up by 26.7%, 5 bedrooms homes became 7.7% less available. Over 65 listings were sold over their listed price in May 2022 in Waterford, MI. In the same period over 18 listings were sold below the listed price and 17 listings were sold for the listed price.

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