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

Housing Market Conditions



Gauge showing Waterford is a seller's market


Difference Since August 2022

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.

Housing Prices

How much do homes in Waterford, MI cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since August 2022


Key Takeaway

Homes in Waterford have sold for 3.6% more than they did a year ago.

Summary: The median home sold price in Waterford was $242,048 in August 2023, up 3.6% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $65K$68.5K
2 $167K$182.1K
3 $244.1K$254.6K
4 $332.4K$329.9K
5+ $367.5K$299K

Summary: Waterford housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 5.4%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 4.3%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes decreased by 18.6%.

Median Sold Price Compared To Nearby Cities

Sylvan Lake
Keego Harbor
Waterford Charter Township

Housing Supply

How many homes are available in Waterford, MI?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE

Summary: The Waterford real estate market had 265 homes for sale in August 2023, a 6.0% increase compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 44
2 5358
3 133144
4 5451
5+ 68

Summary: The Waterford housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 8.3%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

43 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. 50.6% of homes here sold above asking price last month.

Summary: A total of 86 homes were sold or pending in Waterford in August 2023, down by 4.4% month-over-month. Of the 85 sold homes, 31% were sold under asking, 19% were sold at asking, and 51% were sold over asking.

Days on Market

How long does it take to sell a home in Waterford, MI?

Average Sale Time

Aug 2022Aug 2023CHANGE
8 Days20 Days+162.4%

Summary: Homes in Waterford had an average of 20 days on market in Aug 2023, up by 162.4% compared to last year.

Breakdown of Home Sale Times

75 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

4 Homes Were 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.

Summary: During August 2023, 86 homes were sold in Waterford; 87% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

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

Report Updated 25 Days Ago

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Nearby Markets

What housing markets are near Waterford, MI?