Is Oconomowoc, 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, Oconomowoc has remained a Seller's Market.
Key Takeaway
Oconomowoc is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oconomowoc, WI
How much do homes in Oconomowoc, WI cost?
Median Sold Price
$503,736
$242/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Oconomowoc have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in Oconomowoc was $503,736 in March 2024, up 3.4% from last year, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $435K | $502.5K | +15.5% |
| 2 Bedrooms | $380K | $324.9K | -14.5% |
| 3 Bedrooms | $450K | $479.1K | +6.5% |
| 4 Bedrooms | $532.5K | $575K | +8.0% |
| 5+ Bedrooms | $650K | $1.1M | +83.1% |
Summary: Oconomowoc housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.5%, 2 bedroom homes decreased by 14.5%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 83.1%.
Median Sold Price Compared To Nearby Cities
| Summit | $635K | $671.9K | +5.8% |
| Oconomowoc | $487.1K | $503.7K | +3.4% |
Housing Supply in Oconomowoc, WI
How many homes are available in Oconomowoc, WI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 113 | 126 | +11.5% |
Summary: The Oconomowoc real estate market had 126 homes for sale in March 2024, a 11.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 15 | 13 | -13.3% |
| 3 Bedrooms | 53 | 63 | +18.9% |
| 4 Bedrooms | 36 | 39 | +8.3% |
| 5+ Bedrooms | 9 | 11 | +22.2% |
Summary: The Oconomowoc housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 13.3%, 3 bedroom homes increased by 18.9%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 32 | +52.4% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oconomowoc, you could pay more than the asking price. 53.1% of homes here sold above asking price last month.
Summary: A total of 32 homes were sold or pending in Oconomowoc in March 2024, up by 52.4% month-over-month. Of the 32 sold homes, 34% were sold under asking, 13% were sold at asking, and 53% were sold over asking.
Days on Market for Oconomowoc, WI
We’re sorry, we don't have information for this market at the moment
