Is West Allis, WI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Allis is a seller's market

Buyer's
Market

Difference Since August 2022

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

Key Takeaway

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

Housing Prices

How much do homes in West Allis, WI cost?

Median Sold Price

$234,400

$173/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2022

+$29,616(+14.5%)

Key Takeaway

Homes in West Allis have sold for 14.5% more than they did a year ago.

Summary: The median home sold price in West Allis was $234,400 in August 2023, up 14.5% from last year, and the median price per square foot was $173.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $107K$180K
+68.2%
2 $171K$180.4K
+5.5%
3 $209.6K$241.6K
+15.3%
4 $225K$255K
+13.3%
5+ $226.2K$260K
+14.9%

Summary: West Allis housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 68.2%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 15.3%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 14.9%.

Median Sold Price Compared To Nearby Cities

West Milwaukee
+17.1%
West Allis
+14.5%
Wauwatosa
+11.2%
Greenfield
+9.0%
Milwaukee
+4.5%

Housing Supply

How many homes are available in West Allis, WI?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE
161150-6.8%

Summary: The West Allis real estate market had 150 homes for sale in August 2023, a 6.8% decrease compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 10
-100.0%
2 2525
0.0%
3 9685
-11.5%
4 3534
-2.9%
5+ 46
+50.0%

Summary: The West Allis housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.5%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE
7057-18.6%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

44 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Allis, you could pay more than the asking price. 77.2% of homes here sold above asking price last month.

Summary: A total of 57 homes were sold or pending in West Allis in August 2023, down by 18.6% month-over-month. Of the 57 sold homes, 11% were sold under asking, 12% were sold at asking, and 77% were sold over asking.

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

Report Updated 22 Days Ago

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Nearby Markets

What housing markets are near West Allis, WI?