Is Racine, 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, Racine has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $117.4K | $98K | -16.6% |
2 Bedrooms | $157K | $170K | +8.3% |
3 Bedrooms | $194.9K | $204.5K | +4.9% |
4 Bedrooms | $232.5K | $250K | +7.5% |
5+ Bedrooms | $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 | $190.4K | $200K | +5.0% |
Mount Pleasant | $271K | $278.9K | +2.9% |
Housing Supply in Racine, WI
How many homes are available in Racine, WI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
211 | 220 | +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
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 51 | 52 | +2.0% |
3 Bedrooms | 125 | 126 | +0.8% |
4 Bedrooms | 25 | 31 | +24.0% |
5+ Bedrooms | 8 | 10 | +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 2024 | Mar 2024 | CHANGE |
---|---|---|
67 | 86 | +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
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
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.