Watertown appreciation rates and housing market information
Watertown housing market information
With a population of 27,423, 11,409 total housing units (homes and apartments), and a median house value of $118,185, Watertown real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Watertown, accounting for 42.28% of the city's housing units. Other types of housing that are prevalent in Watertown include duplexes, homes converted to apartments or other small apartment buildings (31.57%), large apartment complexes or high rise apartments (22.83%), and a few row houses and other attached homes (2.03%).
People in Watertown primarily live in small (one, two or no bedroom) single-family detached homes. Watertown has a mixture of owner-occupied and renter-occupied housing.
The housing in Watertown was primarily built before 1939 (56.56%), making the housing stock in Watertown some of the oldest overall in America, although there is a range of ages of homes in Watertown. The next most important housing age is between 1940-1969 (23.80%), followed by between 1970-1999 (17.68%). There's also some housing in Watertown built between 2000 and later (1.96%).
Watertown home appreciation rates
In the last 10 years, Watertown has experienced some of the highest home appreciation rates of any community in the nation. Watertown real estate appreciated 31.53% over the last ten years, which is an average annual home appreciation rate of 2.78%, putting Watertown in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Watertown definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Watertown appreciation rates have trailed the rest of the nation. In the last twelve months, Watertown's appreciation rate has been -5.18%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Watertown were at -0.83%, which equates to an annual appreciation rate of -3.27%.
Relative to New York, our data show that Watertown's latest annual appreciation rate is lower than 70% of the other cities and towns in New York.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Watertown differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Watertown - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Watertown real estate investment or home purchase decisions.