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Sarah Mitchell
Compass Real Estate · ZIP 57201
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57201 ZIP Code Housing Market
$301,500median sale price
What is the 57201 housing market like right now?
The median home sale price in ZIP code 57201 is $301,500, up 3.9% year-over-year. Homes sell in an average of 52 days with 141 active listings. The market is currently a leaning buyer's. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 57201 ZIP code a buyer's or seller's market?
ZIP code 57201 is currently a leaning buyer's and homes selling in about 52 days. How we determine this →
What are the latest 57201 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $301,500 |
| Median list price | $355,000 |
| Year-over-year price change | +3.9% |
| Average days on market | 52 days |
| Active inventory | 141 listings |
| Sale-to-list price ratio | 98.3% |
| Market condition | Leaning buyer's |
Source: Redfin · Updated monthly
The 57201 zip code, located in Watertown, SD, is currently classified as a leaning buyer's. The median sale price stands at $301,500, representing a +3.9% change year over year. Homes in this area spend an average of 52 days on the market before going under contract. There are currently 141 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 57201 sits in the Watertown, SD area, roughly 3.6 miles from downtown Watertown. Because home prices are set street by street, this ZIP can move differently from Watertown's citywide averages. The figures below reflect 57201 specifically — drawn from Redfin transactions, U.S. Census data for its 26,781 residents, and Zillow value estimates.
Homes sold
75
Last 12 weeks
Days on market
52
Average pace
Active listings
141
Sale-to-list
98.3%
Below asking
What is driving the 57201 housing market?
The 57201 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a leaning buyer's, homes are selling at approximately 98.3% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 57201 have increased +3.9% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 57201 stands at $334,067, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,207 per month. This gives a price-to-rent ratio of approximately 23.1, which indicates that renting may be more cost-effective than buying in the short term, though long-term appreciation could shift that calculus. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 57201?
Population
26,781
Median income
$72,878/yr
Median age
39.6 years
Owner-occupied
68.5%
College grads
21.8%
Avg commute
15.54 min
What is it like living in 57201?
Zip code 57201 is home to approximately 26,781 residents. The median household income is $72,878 per year, which shapes the types of homes and amenities available in the area. With a median age of 39.6 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 68.5% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 21.8% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 15.54 minutes, which is shorter than the national average and suggests good proximity to employment centers. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 57201.
Which public schools serve ZIP 57201?
11 schools tracked · 3,936 students
The largest public schools serving ZIP code 57201 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.
Frequently asked questions about 57201
What is the median home price in 57201?
The current median sale price in 57201 is $301,500, based on recent Redfin transaction data. Prices have changed +3.9% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 57201 a buyer's or seller's market?
The 57201 zip code is currently classified as a leaning buyer's. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 57201?
Zip code 57201 has a population of approximately 26,781 residents. The median household income is $72,878 per year. About 68.5% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 57201?
Properties Incorporated provides comprehensive data for 57201 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 57201 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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