Is Milwaukee, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$234,727
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Milwaukee have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Milwaukee was $234,727 in April 2024, up 4.3% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $178.3K | $168.1K | -5.7% |
| 2 Bedrooms | $180.5K | $190K | +5.3% |
| 3 Bedrooms | $229.9K | $240.5K | +4.6% |
| 4 Bedrooms | $264.8K | $264.4K | -0.1% |
| 5+ Bedrooms | $293.2K | $294.5K | 0.4% |
Summary: Milwaukee housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.7%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 4.6%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 0.4%.
Median Sold Price Compared To Nearby Cities
| Wauwatosa | $340K | $375.6K | +10.5% |
| West Allis | $220K | $240.7K | +9.4% |
| Milwaukee | $225K | $234.7K | +4.3% |
| Shorewood | $490.5K | $487K | -0.7% |
Housing Supply in Milwaukee, WI
How many homes are available in Milwaukee, WI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,608 | 1,848 | +14.9% |
Summary: The Milwaukee real estate market had 1,848 homes for sale in April 2024, a 14.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 63 | 81 | +28.6% |
| 2 Bedrooms | 339 | 430 | +26.8% |
| 3 Bedrooms | 757 | 854 | +12.8% |
| 4 Bedrooms | 341 | 370 | +8.5% |
| 5+ Bedrooms | 108 | 113 | +4.6% |
Summary: The Milwaukee housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 26.8%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 4.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 486 | 527 | +8.4% |
Asking Price vs. Sold Price
142 Homes Were Sold
Under Asking
77 Homes Were Sold
At Asking
308 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Milwaukee, you could pay more than the asking price. 58.4% of homes here sold above asking price last month.
Summary: A total of 527 homes were sold or pending in Milwaukee in April 2024, up by 8.4% month-over-month. Of the 527 sold homes, 27% were sold under asking, 15% were sold at asking, and 58% were sold over asking.
Days on Market for Milwaukee, WI
We’re sorry, we don't have information for this market at the moment
