Is Oak Creek, WI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Oak Creek is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Oak Creek has remained a Seller's Market.

Key Takeaway

Oak Creek is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Oak Creek, WI

How much do homes in Oak Creek, WI cost?

Median Sold Price

$355,000

$198/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$20,000(+6.0%)

Key Takeaway

Homes in Oak Creek have sold for 6% more than they did a year ago.

Summary: The median home sold price in Oak Creek was $355,000 in February 2024, up 6% from last year, and the median price per square foot was $198.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $176.9K$195.9K
+10.7%
2 $223.5K$245.2K
+9.7%
3 $345K$360K
+4.3%
4 $440K$430K
-2.3%
5+ $570K$687.5K
+20.6%

Summary: Oak Creek housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.7%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 4.3%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes increased by 20.6%.

Median Sold Price Compared To Nearby Cities

South Milwaukee
+8.7%
Oak Creek
+6.0%
Caledonia
+4.6%
Cudahy
+3.6%
Milwaukee
+2.7%

Housing Supply in Oak Creek, WI

How many homes are available in Oak Creek, WI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3943+10.3%

Summary: The Oak Creek real estate market had 43 homes for sale in February 2024, a 10.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 10
-100.0%
2 89
+12.5%
3 2123
+9.5%
4 89
+12.5%
5+ 12
+100.0%

Summary: The Oak Creek housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1312-7.7%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Oak Creek, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in Oak Creek in February 2024, down by 7.7% month-over-month. Of the 12 sold homes, 25% were sold under asking, 8% were sold at asking, and 67% were sold over asking.

Days on Market for Oak Creek, WI

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in Oak Creek, WI

Nearby Markets to Oak Creek, WI

What housing markets are near Oak Creek, WI?