Is Racine, WI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Racine is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Racine, WI

How much do homes in Racine, WI cost?

Median Sold Price

$203,145

$154/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$6,064(+3.1%)

Key Takeaway

Homes in Racine have sold for 3.1% more than they did a year ago.

Summary: The median home sold price in Racine was $203,145 in November 2024, up 3.1% from last year, and the median price per square foot was $154.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $113.6K$140K
+23.2%
2 $165K$176K
+6.7%
3 $200.6K$211.3K
+5.3%
4 $225K$250K
+11.1%
5+ $240K$270K
+12.5%

Summary: Racine housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.2%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 12.5%.

Median Sold Price Compared To Nearby Cities

Elmwood Park
+10.9%
Mount Pleasant
+6.9%
Racine
+3.1%

Housing Supply in Racine, WI

How many homes are available in Racine, WI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
223227+1.8%

Summary: The Racine real estate market had 227 homes for sale in November 2024, a 1.8% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 12
+100.0%
2 5143
-15.7%
3 115125
+8.7%
4 4647
+2.2%
5+ 1010
0.0%

Summary: The Racine housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 15.7%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
7068-2.9%

Asking Price vs. Sold Price

27 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

25 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Racine, you may be able to get a good deal. 39.7% of homes here sold below asking price last month.

Summary: A total of 68 homes were sold or pending in Racine in November 2024, down by 2.9% month-over-month. Of the 68 sold homes, 40% were sold under asking, 24% were sold at asking, and 37% were sold over asking.

Days on Market for Racine, 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 7 Days Ago

Newest Listings in Racine, WI

Nearby Markets to Racine, WI

What housing markets are near Racine, WI?