Is Oconomowoc, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Oconomowoc has remained a Seller's Market.
Key Takeaway
Oconomowoc is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oconomowoc, WI
How much do homes in Oconomowoc, WI cost?
Median Sold Price
$525,000
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Oconomowoc have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in Oconomowoc was $525,000 in May 2024, up 9.4% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $432.5K | $502.5K | +16.2% |
| 2 Bedrooms | $365K | $330K | -9.6% |
| 3 Bedrooms | $464.9K | $487K | +4.7% |
| 4 Bedrooms | $517K | $601K | +16.2% |
| 5+ Bedrooms | $668.9K | $753.2K | +12.6% |
Summary: Oconomowoc housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.2%, 2 bedroom homes decreased by 9.6%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes increased by 12.6%.
Median Sold Price Compared To Nearby Cities
| Oconomowoc | $480K | $525K | +9.4% |
| Summit | $620K | $675K | +8.9% |
Housing Supply in Oconomowoc, WI
How many homes are available in Oconomowoc, WI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 147 | 171 | +16.3% |
Summary: The Oconomowoc real estate market had 171 homes for sale in May 2024, a 16.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 16 | 18 | +12.5% |
| 3 Bedrooms | 70 | 78 | +11.4% |
| 4 Bedrooms | 43 | 51 | +18.6% |
| 5+ Bedrooms | 18 | 23 | +27.8% |
Summary: The Oconomowoc 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 12.5%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 18.6%, and 5+ bedroom homes increased by 27.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 33 | 48 | +45.5% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oconomowoc, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 48 homes were sold or pending in Oconomowoc in May 2024, up by 45.5% month-over-month. Of the 48 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for Oconomowoc, WI
We’re sorry, we don't have information for this market at the moment
