Is Waterford, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$250,000
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Waterford have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in Waterford was $250,000 in April 2024, up 2.3% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $65.5K | $72.4K | +10.6% |
| 2 Bedrooms | $175K | $186K | +6.3% |
| 3 Bedrooms | $252.2K | $260K | +3.1% |
| 4 Bedrooms | $335K | $335.2K | 0.1% |
| 5+ Bedrooms | $377.5K | $331.5K | -12.2% |
Summary: Waterford housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.6%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 0.1%, and 5+ bedroom homes decreased by 12.2%.
Median Sold Price Compared To Nearby Cities
| Waterford | $244.4K | $250K | +2.3% |
| Waterford Charter Township | $244.8K | $250K | +2.1% |
| Keego Harbor | $235K | $194K | -17.4% |
Housing Supply in Waterford, MI
How many homes are available in Waterford, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 200 | 213 | +6.5% |
Summary: The Waterford real estate market had 213 homes for sale in April 2024, a 6.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 6 | 0.0% |
| 2 Bedrooms | 35 | 42 | +20.0% |
| 3 Bedrooms | 116 | 119 | +2.6% |
| 4 Bedrooms | 39 | 43 | +10.3% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Waterford housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 61 | 82 | +34.4% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
47 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Waterford, you could pay more than the asking price. 57.3% of homes here sold above asking price last month.
Summary: A total of 82 homes were sold or pending in Waterford in April 2024, up by 34.4% month-over-month. Of the 82 sold homes, 26% were sold under asking, 17% were sold at asking, and 57% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 51 Days | 21 Days | -57.1% |
Summary: Homes in Waterford had an average of 21 days on market in Apr 2024, down by 57.1% compared to last year.
Breakdown of Home Sale Times
65 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
5 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 April 2024, 82 homes were sold in Waterford; 79% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.