$2,672 Closing Credit*
$225,000
1,040 SqFt
3 Beds
•1 Full Bath
Terry W Ozak, Listing Office: RE/MAX Leading Edge
Is Waterford, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
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 in Waterford, MI
How much do homes in Waterford, MI cost?
Median Sold Price
$265,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,000(+8.2%)
Key Takeaway
Homes in Waterford have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in Waterford was $265,000 in October 2024, up 8.2% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $85K | $73K | -14.1% |
| 2 Bedrooms | $185K | $195K | +5.4% |
| 3 Bedrooms | $255K | $274.9K | +7.8% |
| 4 Bedrooms | $335K | $349K | +4.2% |
| 5+ Bedrooms | $295K | $755K | +155.9% |
Summary: Waterford housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.1%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 155.9%.
Median Sold Price Compared To Nearby Cities
| Waterford | $245K | $265K | +8.2% |
| Waterford Charter Township | $245K | $265K | +8.2% |
| Sylvan Lake | $348K | $320K | -8.0% |
| Keego Harbor | $225K | $160.4K | -28.7% |
Housing Supply in Waterford, MI
How many homes are available in Waterford, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 256 | 266 | +3.9% |
Summary: The Waterford real estate market had 266 homes for sale in October 2024, a 3.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 46 | 50 | +8.7% |
| 3 Bedrooms | 152 | 155 | +2.0% |
| 4 Bedrooms | 45 | 49 | +8.9% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Waterford housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 75 | 64 | -14.7% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Waterford, you may be able to get a good deal. 40.6% of homes here sold below asking price last month.
Summary: A total of 64 homes were sold or pending in Waterford in October 2024, down by 14.7% month-over-month. Of the 64 sold homes, 41% were sold under asking, 20% were sold at asking, and 39% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 22 Days | +28.1% |
Summary: Homes in Waterford had an average of 22 days on market in Oct 2024, up by 28.1% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Waterford are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 64 homes were sold in Waterford; 73% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.