Is Elm Grove, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Elm Grove has remained a Seller's Market.
Key Takeaway
Elm Grove is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elm Grove, WI
How much do homes in Elm Grove, WI cost?
Median Sold Price
$625,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Elm Grove have sold for 10.6% more than they did a year ago.
Summary: The median home sold price in Elm Grove was $625,000 in March 2024, up 10.6% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $223.7K | $250K | +11.7% |
| 2 Bedrooms | $227K | $301.5K | +32.8% |
| 3 Bedrooms | $487.5K | $510K | +4.6% |
| 4 Bedrooms | $667K | $840K | +25.9% |
| 5+ Bedrooms | $830K | $927.1K | +11.7% |
Summary: Elm Grove housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.7%, 2 bedroom homes increased by 32.8%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 25.9%, and 5+ bedroom homes increased by 11.7%.
Median Sold Price Compared To Nearby Cities
| Wauwatosa | $340K | $380K | +11.8% |
| Elm Grove | $565K | $625K | +10.6% |
| Brookfield | $431.9K | $460K | +6.5% |
Housing Supply in Elm Grove, WI
How many homes are available in Elm Grove, WI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Summary: The Elm Grove real estate market had 14 homes for sale in March 2024, a 7.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Elm Grove housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elm Grove, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Elm Grove in March 2024, up by 66.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for Elm Grove, WI
We’re sorry, we don't have information for this market at the moment
