Is Waterford, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Waterford has remained a Seller's Market.
Housing Prices in Waterford, MI
How much do homes in Waterford, MI cost?
Median Sold Price
$249,225
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Waterford was $249,225 in March 2024, up 1.8% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $65K | $72K | +10.8% |
2 Bedrooms | $172.2K | $190K | +10.3% |
3 Bedrooms | $252.7K | $256K | +1.3% |
4 Bedrooms | $339.1K | $335K | -1.2% |
5+ Bedrooms | $367.5K | $318.2K | -13.4% |
Summary: Waterford housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.8%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 1.3%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes decreased by 13.4%.
Median Sold Price Compared To Nearby Cities
Waterford Charter Township | $244.7K | $249.3K | +1.9% |
Waterford | $244.8K | $249.2K | +1.8% |
Sylvan Lake | $327.5K | $305K | -6.9% |
Keego Harbor | $235K | $200K | -14.9% |
Housing Supply in Waterford, MI
How many homes are available in Waterford, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
184 | 209 | +13.6% |
Summary: The Waterford real estate market had 209 homes for sale in March 2024, a 13.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 6 | 0.0% |
2 Bedrooms | 36 | 35 | -2.8% |
3 Bedrooms | 102 | 118 | +15.7% |
4 Bedrooms | 36 | 45 | +25.0% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Waterford housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 2.8%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
57 | 53 | -7.0% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 53 homes were sold or pending in Waterford in March 2024, down by 7.0% month-over-month. Of the 53 sold homes, 28% were sold under asking, 25% were sold at asking, and 47% were sold over asking.
Days on Market for Waterford, MI
How long does it take to sell a home in Waterford, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
93 Days | 21 Days | -76.5% |
Summary: Homes in Waterford had an average of 21 days on market in Mar 2024, down by 76.5% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 53 homes were sold in Waterford; 77% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.