Watertown, SD metro area Housing Market
Cold MarketComprehensive housing market data for the Watertown, SD metro area metro area. Track home prices, inventory, days on market, and competition — updated monthly for real estate investors.
Data period: March 2026
Median Sale Price
$275K
↑ 1.5% YoY
Days on Market
104 days
↑ 82.5% YoY
Active Inventory
112
↑ 6.7% YoY
Homes Sold
21
↑ 16.7% YoY
Cold Market
Inventory is high and homes are sitting longer — a buyer's market.
Watertown, SD metro area Market Summary
The Watertown, SD metro area housing market is cooling down. As of March 2026, the median home sale price is $275K, up 1.5% year-over-year. Homes are spending a median of 104 days on the market, 82.5% longer than a year ago.
There are 112 homes for sale — 6.7% more than last year. With 5.3 months of supply, this is a balanced market. 48 new listings were added during this period, up 50.0% year-over-year.
Homes are selling for 97.1% of their list price on average, suggesting room for negotiation. 9.5% of homes sell above their asking price. 16.1% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
73
Contributing Factors
How This Market Compares
vs. National Median
vs. South Dakota Median
Investor Takeaway
The cooling market may present buying opportunities with less competition and more negotiating leverage. High inventory relative to sales pace means buyers have options and sellers may be flexible on price. Prices are 37% below the national median, which could indicate stronger cash flow potential.
Watertown, SD metro area Market Trends
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Detailed Market Metrics
Median List Price
$305K
Price per Sq Ft
$139
Sale-to-List Ratio
97.1%
Months of Supply
5.3
Sold Above List
9.5%
Price Drops
16.1%
New Listings
48
↑ 50.0% YoY
Pending Sales
32
Off Market in 2 Weeks
40.6%
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Try It FreeHousing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.