Is Northwest, 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, Northwest has remained a Seller's Market.
Key Takeaway
Northwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northwest, WI
How much do homes in Northwest, WI cost?
Median Sold Price
$161,000
$125/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Northwest have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in Northwest was $161,000 in April 2024, up 0.8% from last year, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $71.2K | $78.2K | +9.8% |
| 2 Bedrooms | $74.3K | $84K | +13.1% |
| 3 Bedrooms | $178.7K | $180K | +0.7% |
| 4 Bedrooms | $220K | $220K | 0.0% |
| 5+ Bedrooms | $284K | $255K | -10.2% |
Summary: Northwest housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.8%, 2 bedroom homes increased by 13.1%, 3 bedroom homes increased by 0.7%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 10.2%.
Median Sold Price Compared To Nearby Neighborhoods
| Menomonee River Hills | $194.5K | $204.5K | +5.1% |
| Menomonee River Hills East | $200K | $206.7K | +3.4% |
| Northwest | $159.7K | $161K | +0.8% |
Housing Supply in Northwest, WI
How many homes are available in Northwest, WI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 194 | 203 | +4.6% |
Summary: The Northwest real estate market had 203 homes for sale in April 2024, a 4.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 64 | 70 | +9.4% |
| 3 Bedrooms | 94 | 92 | -2.1% |
| 4 Bedrooms | 28 | 32 | +14.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Northwest housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 9.4%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 52 | 48 | -7.7% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northwest, you could pay more than the asking price. 45.8% of homes here sold above asking price last month.
Summary: A total of 48 homes were sold or pending in Northwest in April 2024, down by 7.7% month-over-month. Of the 48 sold homes, 40% were sold under asking, 15% were sold at asking, and 46% were sold over asking.
Days on Market for Northwest, WI
We’re sorry, we don't have information for this market at the moment
