Is Elkhart Lake, WI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elkhart Lake is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Elkhart Lake has remained a Seller's Market.

Key Takeaway

Elkhart Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Elkhart Lake, WI

How much do homes in Elkhart Lake, WI cost?

Median Sold Price

$412,000

$271/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$37,000(+9.9%)

Key Takeaway

Homes in Elkhart Lake have sold for 9.9% more than they did a year ago.

Summary: The median home sold price in Elkhart Lake was $412,000 in February 2024, up 9.9% from last year, and the median price per square foot was $271.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $192.2K$213K
+10.8%
2 $280K$405K
+44.6%
3 $378.5K$425K
+12.3%
4 $427K$553K
+29.5%
5+ $461.2K$2.4M
+431.2%

Summary: Elkhart Lake housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.8%, 2 bedroom homes increased by 44.6%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 29.5%, and 5+ bedroom homes increased by 431.2%.

Housing Supply in Elkhart Lake, WI

How many homes are available in Elkhart Lake, WI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2623-11.5%

Summary: The Elkhart Lake real estate market had 23 homes for sale in February 2024, a 11.5% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 42
-50.0%
2 810
+25.0%
3 86
-25.0%
4 55
0.0%
5+ 10
-100.0%

Summary: The Elkhart Lake housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
86-25.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elkhart Lake, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Elkhart Lake in February 2024, down by 25.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.

Days on Market for Elkhart Lake, WI

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Elkhart Lake, WI

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