Is Milwaukee, 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, Milwaukee has remained a Seller's Market.
Key Takeaway
Milwaukee is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Milwaukee, WI
How much do homes in Milwaukee, WI cost?
Median Sold Price
$231,980
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Milwaukee have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in Milwaukee was $231,980 in March 2024, up 3.1% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175.7K | $170K | -3.3% |
| 2 Bedrooms | $183.8K | $184.9K | +0.6% |
| 3 Bedrooms | $229.9K | $239.9K | +4.4% |
| 4 Bedrooms | $264.2K | $264.2K | 0.0% |
| 5+ Bedrooms | $309.5K | $282K | -8.9% |
Summary: Milwaukee housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.3%, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 4.4%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 8.9%.
Median Sold Price Compared To Nearby Cities
| Wauwatosa | $340K | $380K | +11.8% |
| West Allis | $220K | $240K | +9.1% |
| Milwaukee | $225K | $231.9K | +3.1% |
| Shorewood | $477K | $484.7K | +1.6% |
Housing Supply in Milwaukee, WI
How many homes are available in Milwaukee, WI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,462 | 1,653 | +13.1% |
Summary: The Milwaukee real estate market had 1,653 homes for sale in March 2024, a 13.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 57 | 65 | +14.0% |
| 2 Bedrooms | 308 | 352 | +14.3% |
| 3 Bedrooms | 683 | 771 | +12.9% |
| 4 Bedrooms | 323 | 358 | +10.8% |
| 5+ Bedrooms | 91 | 107 | +17.6% |
Summary: The Milwaukee housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes increased by 17.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 427 | 433 | +1.4% |
Asking Price vs. Sold Price
168 Homes Were Sold
Under Asking
58 Homes Were Sold
At Asking
207 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Milwaukee, you could pay more than the asking price. 47.8% of homes here sold above asking price last month.
Summary: A total of 433 homes were sold or pending in Milwaukee in March 2024, up by 1.4% month-over-month. Of the 433 sold homes, 39% were sold under asking, 13% were sold at asking, and 48% were sold over asking.
Days on Market for Milwaukee, WI
How long does it take to sell a home in Milwaukee, WI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Milwaukee are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 433 homes were sold in Milwaukee; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
