Is Watertown, MN 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, Watertown has remained a Seller's Market.
Key Takeaway
Watertown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Watertown, MN
How much do homes in Watertown, MN cost?
Median Sold Price
$354,000
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Watertown have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in Watertown was $354,000 in March 2024, up 5.7% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $272K | $266.4K | -2.1% |
| 3 Bedrooms | $305K | $341.5K | +12.0% |
| 4 Bedrooms | $390K | $367.7K | -5.7% |
| 5+ Bedrooms | $475.5K | $440K | -7.5% |
Summary: Watertown housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.1%, 3 bedroom homes increased by 12%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes decreased by 7.5%.
Median Sold Price Compared To Nearby Cities
| Watertown Township | $335K | $355K | +6.0% |
| Watertown | $335K | $354K | +5.7% |
Housing Supply in Watertown, MN
How many homes are available in Watertown, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 33 | +83.3% |
Summary: The Watertown real estate market had 33 homes for sale in March 2024, a 83.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 6 | 20 | +233.3% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Watertown housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 233.3%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Watertown, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Watertown in March 2024, up by 200.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for Watertown, MN
How long does it take to sell a home in Watertown, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 39 Days | 99 Days | +149.9% |
Summary: Homes in Watertown had an average of 99 days on market in Mar 2024, up by 149.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Watertown are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 6 homes were sold in Watertown; 33% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
