Is Milwaukee, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Milwaukee has remained a Seller's Market.
Housing Prices in Milwaukee, WI
How much do homes in Milwaukee, WI cost?
Median Sold Price
$230,014
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Summary: The median home sold price in Milwaukee was $230,014 in November 2023, up 2.3% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | $173.5K | $169.8K | -2.1% |
2 Bedrooms | $178.8K | $185K | +3.5% |
3 Bedrooms | $229.4K | $238K | +3.7% |
4 Bedrooms | $260K | $262.7K | +1.0% |
5+ Bedrooms | $354.5K | $285K | -19.6% |
Summary: Milwaukee housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 2.1%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 19.6%.
Median Sold Price Compared To Nearby Cities
West Milwaukee | $172K | $215.7K | +25.4% |
Shorewood | $430K | $510K | +18.6% |
West Allis | $210K | $235K | +11.9% |
Wauwatosa | $337.2K | $371K | +10.0% |
Milwaukee | $224.9K | $230K | +2.3% |
Housing Supply in Milwaukee, WI
How many homes are available in Milwaukee, WI?
Number of Homes For Sale
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
2,058 | 1,970 | -4.3% |
Summary: The Milwaukee real estate market had 1,970 homes for sale in November 2023, a 4.3% decrease compared to October 2023.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 69 | 68 | -1.4% |
2 Bedrooms | 429 | 369 | -14.0% |
3 Bedrooms | 994 | 935 | -5.9% |
4 Bedrooms | 446 | 478 | +7.2% |
5+ Bedrooms | 120 | 120 | 0.0% |
Summary: The Milwaukee housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 1.4%, 2 bedroom homes decreased by 14%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
633 | 481 | -24.0% |
Asking Price vs. Sold Price
202 Homes Were Sold
Under Asking
71 Homes Were Sold
At Asking
208 Homes Were Sold
Over Asking
Summary: A total of 481 homes were sold or pending in Milwaukee in November 2023, down by 24.0% month-over-month. Of the 481 sold homes, 42% were sold under asking, 15% were sold at asking, and 43% were sold over asking.