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 2022

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

$199,024

$143/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2022

+$9,442(+5.0%)

Key Takeaway

Homes in Racine have sold for 5% more than they did a year ago.

Summary: The median home sold price in Racine was $199,024 in November 2023, up 5% from last year, and the median price per square foot was $143.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $114.9K$113.6K
-1.1%
2 $154.5K$166K
+7.4%
3 $190K$204.6K
+7.7%
4 $237K$230K
-3.0%
5+ $368.5K$240K
-34.9%

Summary: Racine housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 1.1%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes decreased by 34.9%.

Median Sold Price Compared To Nearby Cities

Racine
+5.0%
Mount Pleasant
-2.7%

Housing Supply in Racine, WI

How many homes are available in Racine, WI?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE
246252+2.4%

Summary: The Racine real estate market had 252 homes for sale in November 2023, a 2.4% increase compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 32
-33.3%
2 5564
+16.4%
3 124122
-1.6%
4 4545
0.0%
5+ 1919
0.0%

Summary: The Racine housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 16.4%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2023Nov 2023CHANGE
67670.0%

Asking Price vs. Sold Price

28 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

27 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. 41.8% of homes here sold below asking price last month.

Summary: A total of 67 homes were sold or pending in Racine in November 2023, the same as the previous month. Of the 67 sold homes, 42% were sold under asking, 18% were sold at asking, and 40% were sold over asking.

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

Report Updated 8 Days Ago

Newest Listings in Racine, WI

Nearby Markets to Racine, WI

What housing markets are near Racine, WI?