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 March 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

$200,000

$148/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$9,517(+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 $200,000 in March 2024, up 5% from last year, and the median price per square foot was $148.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $117.4K$98K
-16.6%
2 $157K$170K
+8.3%
3 $194.9K$204.5K
+4.9%
4 $232.5K$250K
+7.5%
5+ $335K$246K
-26.6%

Summary: Racine housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.6%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes decreased by 26.6%.

Median Sold Price Compared To Nearby Cities

Racine
+5.0%
Mount Pleasant
+2.9%

Housing Supply in Racine, WI

How many homes are available in Racine, WI?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
211220+4.3%

Summary: The Racine real estate market had 220 homes for sale in March 2024, a 4.3% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 21
-50.0%
2 5152
+2.0%
3 125126
+0.8%
4 2531
+24.0%
5+ 810
+25.0%

Summary: The Racine housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 2%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 24%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
6786+28.4%

Asking Price vs. Sold Price

23 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

46 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Racine, you could pay more than the asking price. 53.5% of homes here sold above asking price last month.

Summary: A total of 86 homes were sold or pending in Racine in March 2024, up by 28.4% month-over-month. Of the 86 sold homes, 27% were sold under asking, 20% were sold at asking, and 53% were sold over asking.

Days on Market for Racine, WI

How long does it take to sell a home in Racine, WI?

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Racine are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 86 homes were sold in Racine; 1% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

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

Report Updated 22 Days Ago

Newest Listings in Racine, WI

Nearby Markets to Racine, WI

What housing markets are near Racine, WI?