Is Elkhart Lake, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Elkhart Lake was a Seller's Market.
Key Takeaway
Elkhart Lake is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Elkhart Lake, WI
How much do homes in Elkhart Lake, WI cost?
Median Sold Price
$431,500
$286/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Elkhart Lake have sold for 29.4% more than they did a year ago.
Summary: The median home sold price in Elkhart Lake was $431,500 in May 2024, up 29.4% from last year, and the median price per square foot was $286.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $189K | $222.5K | +17.7% |
| 2 Bedrooms | $280K | $433K | +54.6% |
| 3 Bedrooms | $382K | $430K | +12.6% |
| 4 Bedrooms | $346.5K | $553K | +59.6% |
| 5+ Bedrooms | $461.2K | $2.4M | +431.2% |
Summary: Elkhart Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.7%, 2 bedroom homes increased by 54.6%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 59.6%, and 5+ bedroom homes increased by 431.2%.
Housing Supply in Elkhart Lake, WI
How many homes are available in Elkhart Lake, WI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 28 | +47.4% |
Summary: The Elkhart Lake real estate market had 28 homes for sale in May 2024, a 47.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 5 | 9 | +80.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Elkhart Lake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 80%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Elkhart Lake, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Elkhart Lake in May 2024, the same as the previous month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Elkhart Lake, WI
We’re sorry, we don't have information for this market at the moment
