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WATERTOWN, SD 57201

Real Estate Market Report  ·  Codington County
Balanced Market
February 2026  ·  Source: Realtor.com

Market Analysis

Data as of February 2026. Source: Realtor.com.

The WATERTOWN, SD real estate market (57201) currently shows 93 active listings, with 27 pending sales. Homes are averaging 89 days on the market before going under contract.

Inventory has increased compared to last year, with 10 more homes available — giving buyers more choice.

Homes are selling faster, averaging 89 days on market compared to 94 days last year.

The median listing price has fallen 11% year-over-year, from $369,950 to $329,400.

Whether you are buying or selling in WATERTOWN, SD, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 26,119  ·  Density: 31.6/mi²  ·  Median household income: $65,761

Typical home value: $214,756  ·  Homeownership: 65.6%

Market Overview

Active Listings
93
⇧ 12% vs 83 last year
Pending
27
29% pending ratio
Median Price
$329,400
⇩ 11% vs $369,950 last year
Average Price
$356,711
⇩ 21.1% vs $451,861 last year
Days on Market
89
⇩ 5.3% vs 94 days last year

Price Per Square Foot

Median $/sqft
$154
⇩ 28% vs $214/sqft last year
Median Home Size
1,723 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 93 this year vs 83 last year
  • Days on market: 89 now vs 94 last year

Median & Average Pricing

Year over Year
  • Median: $329,400 (-11% YoY)
  • Average: $356,711 (-21.1% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 41.3 miles — 140 listings ($53,353,198 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
57201Watertown, SD 572010.0 mi92$32,600,108$329,900$354,349
57263South Shore, SD 5726314.9 mi1$179,900$179,900$179,900
57223Castlewood, SD 5722316.1 mi4$1,046,268$184,900$261,567
57226Clear Lake, SD 5722620.9 mi12$3,806,760$312,450$317,230
57234Estelline, SD 5723425.2 mi6$3,099,402$524,900$516,567
57273Waubay, SD 5727329.0 mi2$971,360$527,500$485,680
57252Milbank, SD 5725230.1 mi4$1,200,000$265,000$300,000
57214Badger, SD 5721431.9 mi1$169,900$169,900$169,900
57274Webster, SD 5727434.3 mi10$3,344,250$235,950$334,425
57278Willow Lake, SD 5727835.1 mi1$239,000$239,000$239,000
57216Big Stone City, SD 5721637.5 mi3$688,350$229,450$229,450
56212Bellingham, MN 5621240.0 mi1$169,000$169,000$169,000
57239Grenville, SD 5723941.3 mi3$5,838,900$599,000$1,946,300

Frequently Asked Questions

How many homes are for sale in WATERTOWN, SD 57201?

As of February 2026, there are 93 active listings in WATERTOWN, SD (zip code 57201), compared to 83 the prior year.

What is the median home price in WATERTOWN, SD 57201?

The median listing price in WATERTOWN, SD 57201 is $329,400 as of February 2026, a 11% decrease from $369,950 the prior year.

How long do homes stay on the market in WATERTOWN, SD?

Homes in WATERTOWN, SD 57201 spend an average of 89 days on the market before going under contract, compared to 94 days the prior year.

Is it a seller's or buyer's market in WATERTOWN, SD 57201?

Based on current inventory and days-on-market data as of February 2026, WATERTOWN, SD 57201 is currently a Balanced Market. Inventory has increased compared to last year, with 10 more homes available — giving buyers more choice. Homes are selling faster, averaging 89 days on market compared to 94 days last year.

How much can I save on real estate commission in WATERTOWN, SD?

With SELL123.com's maximum 3% commission, sellers in WATERTOWN, SD 57201 save an estimated $6,588 compared to a typical 5% commission on the median listing price of $329,400. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.