Is South Milwaukee, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, South Milwaukee has remained a Seller's Market.
Key Takeaway
South Milwaukee is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Milwaukee, WI
How much do homes in South Milwaukee, WI cost?
Median Sold Price
$260,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in South Milwaukee have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in South Milwaukee was $260,000 in May 2024, up 8.3% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $111K | N/A |
| 2 Bedrooms | $182.5K | $195K | +6.8% |
| 3 Bedrooms | $242.4K | $269.9K | +11.3% |
| 4 Bedrooms | $270K | $275.7K | +2.1% |
| 5+ Bedrooms | $297.5K | $325K | +9.2% |
Summary: South Milwaukee housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 9.2%.
Median Sold Price Compared To Nearby Cities
| South Milwaukee | $240K | $260K | +8.3% |
| Cudahy | $235K | $246.2K | +4.8% |
Housing Supply in South Milwaukee, WI
How many homes are available in South Milwaukee, WI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 35 | 38 | +8.6% |
Summary: The South Milwaukee real estate market had 38 homes for sale in May 2024, a 8.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 18 | 20 | +11.1% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The South Milwaukee housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 10 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Milwaukee, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in South Milwaukee in May 2024, down by 33.3% month-over-month. Of the 10 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for South Milwaukee, WI
We’re sorry, we don't have information for this market at the moment
