New Listing
18
$45,000
121 18th Ave SW
Watertown, SD 57201
3 bd1 ba1,216 sqft$37/ft²
House
Jay Schmidt · JP REAL ESTATE
View photos & details
Brokers — List your Company Here
Featured local agent — Watertown, SD
Example placement
Sarah Mitchell
CNESRESABR
Compass Real Estate · Watertown, SD
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
Watertown, SD(512) 555-0184TX License #0512847
Visit website →sarahmitchellhomes.com
5.0 · 47 reviews
This spot is open. Be the only brokerage featured on this page — one slot, no auction.
Claim this spot* Example only — dummy agent for illustration. Your logo, name, tagline, link, and lead routing replace this content.
Watertown, SD Housing Market
Balanced market+4.2% YoY
Zillow, August 2026 · Refreshes monthlyRedfin, through May 2026 · No longer updatingFreddie Mac via FRED, September 2026 · Refreshes weekly
The typical home in Watertown, SD is worth $315,177, rose 4.2% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $301,500, +3.4% year over year (through May 2026). With 3.9 months of supply and homes going under contract in about 44 days, Watertown is a balanced market. At today's 7.03% 30-year fixed rate, 20% down on a $315,177 home is about $1,683/mo in principal and interest.
Key numbers for Watertown, SD
Typical home value
$315,177
+4.2% in 12 months
Zillow, August 2026
Typical asking rent
$1,115/mo
Zillow Observed Rent Index
Zillow, August 2026
Median sale price
$301,500
+3.4% year over year
Redfin, through May 2026
Days on market
44
Average pace
Redfin, through May 2026
Active listings
120
3.9 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$62,721
Home costs 5.0x income
U.S. Census ACS, 2023
Sale-to-list ratio
98.4%
Selling below asking
Redfin, through May 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Watertown a buyer's or seller's market?
Balanced market3.9 months of supply44 days on market98.4% of asking
Watertown, SD is a balanced market, based on 3.9 months of supply and homes selling in about 44 days. Under 4 months of supply tilts the market toward sellers: homes clear faster than they are replaced, so concessions are scarce.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Watertown housing market data show?
Every row below is Redfin's final published month for Watertown, SD. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $301,500 |
| Median list price | $340,000 |
| Year-over-year price change | +3.4% |
| Median price per sq ft | $141/sq ft |
| Median days on market | 44 days |
| Active inventory | 120 listings |
| Months of supply | 3.9 months |
| Sale-to-list price ratio | 98.4% |
| Homes sold (that month) | 31 |
| New listings (that month) | 41 |
| Listings with a price cut | 17.5% |
| Market condition | Balanced market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Watertown is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Watertown is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Watertown home prices moved?
Over the last three years the median sale price in Watertown, SD rose 28.3%, from $235,000 to $301,500. The live Zillow value series has rose 4.2% in the last 12 months, which is the more current read now that Redfin's series has stopped. 17.5% of Watertown listings cut their asking price in the final Redfin month — a modest share, which is what a market looks like when sellers are pricing close to where homes actually clear. For prices to fall meaningfully from here, supply would have to keep building past 3.9 months while the sale-to-list ratio slips below its current 98.4%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
Get Watertown market alerts
Weekly updates on prices, inventory, and trends. Free forever.
What does it cost to buy a home in Watertown?
Priced off the typical home value of $315,177 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $63,035 | $252,141 | $1,683/mo |
| 5% | $15,759 | $299,418 | $1,998/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $1,683, that implies roughly $72,111 a year before you add taxes and insurance. The median household in Watertown earns $62,721, about $9,390 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the typical home value to fit the 28% rule. That puts the price-to-income ratio at 5.0x — well above the 3x that was historically considered affordable, which is why down payment size drives who can buy here.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Watertown in the next 12 months?
Tell us your timeline. We send the Watertown market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Watertown?
Typical asking rent in Watertown, SD is $1,115/mo, against a typical home value of $315,177. That is a price-to-rent ratio of 23.6x, which means renting tends to be the cheaper monthly option unless you stay long enough for appreciation to close the gap. Compared head to head, 20% down puts principal and interest at $1,683 a month — $568 more than renting before taxes and insurance, so the ownership case here rests on equity and appreciation rather than monthly cash flow.
Zillow, August 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Watertown?
Active listings in Watertown, SD went from 90 in May 2025 to 120 in May 2026, a +33.3% change. Rising inventory is the single most useful leading indicator for buyers: more choice, longer marketing times, and more sellers willing to negotiate before price cuts show up in the median.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 118 | 61 |
| July 2025 | 115 | 38 |
| August 2025 | 123 | 40 |
| September 2025 | 111 | 29 |
| October 2025 | 100 | 26 |
| November 2025 | 85 | 19 |
| December 2025 | 71 | 14 |
| January 2026 | 75 | 22 |
| February 2026 | 71 | 24 |
| March 2026 | 86 | 32 |
| April 2026 | 115 | 51 |
| May 2026 | 120 | 41 |
Redfin, through May 2026
How does Watertown compare to South Dakota and the U.S.?
Watertown homes sell for $301,500 — 13% below the South Dakota median of $346,600. Against the national median of $410,700, Watertown runs 27% lower. Year-over-year, Watertown moved +3.4% against South Dakota's +4.3% — a smaller swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Watertown, SD | $301,500 | +3.4% | 44 days |
| South Dakota statewide | $346,600 | +4.3% | 49 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Watertown
What buyers should watch
- Months of supply, currently 3.9. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 17.5%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $315 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $315,177 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Watertown listing goes under contract in 44 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 98.4% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Watertown added 41 new listings against 31 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved +4.2% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Watertown varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Watertown
There are currently 120 homes listed for sale in Watertown, South Dakota. The median listing price is $340K. Featured listings range from $45,000 to $799,000.
14
$129,900
601 S Maple
Watertown, SD 57201
3 bd1 ba1,994 sqft$65/ft²
House8,276 sqft lot
Anna Ammann · DIAMOND REALTY
View photos & details
New Listing
14
$149,999
313 9th St SE
Watertown, SD 57201
3 bd1 ba1,672 sqft$90/ft²
House7,405 sqft lot
Noel Solum · EXIT REALTY CONNECTION
View photos & details
New Listing
26
$199,000
110 112 3rd Ave NE
Watertown, SD 57201
4 bd2 ba3,114 sqft$64/ft²
Multi-family3,920 sqft lot
Dorette Clark · PLATINUM REALTY, INC.
View photos & details
New Listing
$225,000
1000 19th St SE
Watertown, SD 57201
Land
Joy Nelson · HAUGAN NELSON REALTY, INC
View photos & details
New Listing
25
$250,000
107 5th Ave NW
Watertown, SD 57201
6 bd3 ba2,892 sqft$86/ft²
House4,792 sqft lot
Joy Nelson · HAUGAN NELSON REALTY, INC
View photos & details
New Build
25
$295,000
19 27th St SW
Watertown, SD 57201
3 bd2 ba1,100 sqft$268/ft²
House6,970 sqft lot
Carley Stewart · MAINSTREAM REALTY
View photos & details
New Build
27
$295,000
15 27th St SW
Watertown, SD 57201
3 bd2 ba1,160 sqft$254/ft²
House6,970 sqft lot
Carley Stewart · MAINSTREAM REALTY
View photos & details
New Listing
30
$334,900
1112 22nd St NE
Watertown, SD 57201
4 bd2 ba2,352 sqft$142/ft²
House9,583 sqft lot
Andy Mahowald · INSIGHT REALTY GROUP
View photos & details
New Listing
33
$379,900
44712 173rd St
Watertown, SD 57201
4 bd2 ba2,464 sqft$154/ft²
House37,026 sqft lot
Joe Snyder · DIAMOND REALTY
View photos & details
New Listing
35
$619,000
1348 16th St NE
Watertown, SD 57201
5 bd3 ba4,152 sqft$149/ft²
House17,860 sqft lot
Lisa Kieso · HOFTIEZER REAL ESTATE
View photos & details
New Listing
35
$799,000
828 Hidden Valley Dr
Watertown, SD 57201
3 bd2 ba2,421 sqft$330/ft²
House29,185 sqft lot
Joy Nelson · HAUGAN NELSON REALTY, INC
View photos & details
Looking to buy in Watertown?
Get connected with a local real estate expert — free, no obligation.
Active listings
120
Homes on market
Median list price
$340K
Avg. days on market
44
Days until sale
New this week
41
Newly listed
Price drops:17.5%of listings
Sale-to-list:98.4%
How much do homes cost in Watertown by property type?
How the Watertown, SD market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $329,600 | $140/sq ft | 27 | 44 days |
| Condo / co-op | $273,500 | $201/sq ft | 1 | 9 days |
| Townhouse | $389,000 | $249/sq ft | 1 | 232 days |
Who lives in Watertown?
American Community Survey estimates for Watertown. U.S. Census ACS, 2023
Population
22,859
Households
10,237
Median income
$62,721/yr
Median age
39.4 years
Owner-occupied
62.7%
Median home value
$212,300
Median gross rent
$904/mo
Mean commute
13.7 min
62.7% of occupied homes in Watertown are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $212,300 against Zillow's $315,177 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $904/mo, below Zillow's $1,115/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve Watertown?
8 schools tracked · 3,673 students
The largest public schools serving Watertown, SD by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Watertown High School - 01
Grades 9-12 · 1,222 students
Watertown Middle School - 02
Grades 7-8 · 587 students
Watertown Intermediate School - 13
Grades 5-6 · 556 students
Lincoln Elementary - 05
Grades PK-4 · 338 students
Jefferson Elementary - 09
Grades PK-4 · 332 students
McKinley Elementary - 06
Grades PK-4 · 255 students
Mellette Elementary - 07
Grades PK-4 · 235 students
Roosevelt Elementary - 08
Grades PK-4 · 148 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Watertown, SD?
Ordered by distance from Watertown, not by size. Compare Watertown side by side with any of them.
Which ZIP codes are in Watertown?
These are the ZIP codes we see on active Watertown listings. Redfin did not publish a matching ZIP-level sale row for the same period, so we are not ranking them by price here — each ZIP page shows exactly what we hold for it.
Watertown housing market FAQ
Is Watertown a buyer's or seller's market?
Watertown, SD is currently a balanced market. That read comes from 3.9 months of supply, homes going under contract in about 44 days, and sellers getting 98.4% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Watertown?
The typical home in Watertown, SD is worth $315,177 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $301,500, about $141 per square foot.
Is Watertown cheaper than the rest of South Dakota?
Watertown's median sale price of $301,500 is 13% lower than the South Dakota statewide median of $346,600, and 27% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Watertown?
Homes in Watertown, SD spent a median of 44 days on market before going under contract, versus 49 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in Watertown?
At the current 30-year fixed rate of 7.03%, 20% down on a $315,177 home is about $1,683 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $72,111 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $62,721.
Are home prices rising in Watertown?
The typical home value in Watertown, SD rose 4.2% over the last 12 months, from $302,574 to $315,177 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Watertown?
Watertown ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Watertown?
That depends on your timeline, not on a headline. What the data says today: Watertown, SD is a balanced market with 3.9 months of supply, the 30-year fixed rate is 7.03%, and the price-to-rent ratio of 23.6x means renting tends to be the cheaper monthly option unless you stay long enough for appreciation to close the gap. Properties Incorporated publishes the data; it does not give financial advice.
Be the brokerage on this page
1 slot per pageGet featured on Watertown, SD
Your logo, brokerage name, and direct link to your site — featured at the top of this page in front of every visitor researching this whole city. One brokerage, no rotation, no bidding war.
- Goes live in 24 hours
- Cancel anytime
- Do-follow backlink to your site
Keep researching Watertown
Nearby markets
Get the Watertown market brief
Get the Watertown, SD market brief
One email: what homes are actually clearing at around $315,177, how long they sit, which ZIPs run cheaper, and what to fix on your credit before you apply.