Home Values

Water Mill Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$3,133,100

  • 13.0% 1-year change
  • -0.2% 1-year forecast

The median home value in Water Mill is $3,133,100. Water Mill home values have gone up 13.0% over the past year and Zillow predicts they will fall -0.2% within the next year. The median list price per square foot in Water Mill is None. The median rent price in Water Mill is $55,000, which is higher than the New York Metro median of $2,515.

Foreclosures will be a factor impacting home values in the next several years. In Water Mill 3.1 homes are foreclosed (per 10,000). This is greater than the New York Metro value of 2.0 and also lower than the national value of 3.5

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Water Mill is 25.0%, which is higher than the national value of 6.0%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Water Mill homeowners underwater on their mortgage is 1.9%, which is lower than New York Metro at 12.4%.

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Relative ZHVI
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Water Mill Market Overview

Data through May 31, 2015
  • $3,133,100 ZHVI
  • -0.2% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (May 31, 2016)
  • No data Median listing price
  • No recent data Median sale price
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Water Mill Market Health

Data through May 31, 2015
  • No recent data Healthy
  • No data Average days on Zillow
  • 1.9% Homes with negative equity (15.4% US Avg) (Mar 31, 2015)
  • 25.0% Delinquent on mortgage (6.0% US Avg) (Mar 31, 2015)

Homes foreclosed (per 10,000)

3.1 homes(Sep 30, 2014) Water Mill
2 homes New York Metro
3.5 homes United States
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Nearby Cities

Name Median ZHVI
Sagaponack $5,252,300
East Hampton $2,391,600
North Haven $1,369,300
Name Median ZHVI
Southampton $1,022,200
Sag Harbor $879,300
Shelter Island Heights $774,800
Name Median ZHVI
Town of Shelter Island $737,900
Noyack $736,900
Southold $548,800

Listings & Sales

  • No data
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Water Mill Rentals

Data through May 31, 2015
  • Zillow Rent Index

  • $2,357 New York Metro
    $1,367 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 20.1 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • $55,000 Rent list price
  • No data Rent list price / sq ft
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