Is Milwaukee County, WI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Milwaukee County is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Milwaukee County has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Milwaukee County, WI

How much do homes in Milwaukee County, WI cost?

Median Sold Price

$249,986

$177/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$12,909(+5.4%)

Key Takeaway

Homes in Milwaukee County have sold for 5.4% more than they did a year ago.

Summary: The median home sold price in Milwaukee County was $249,986 in May 2024, up 5.4% from last year, and the median price per square foot was $177.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $180K$177K
-1.7%
2 $195K$210.1K
+7.8%
3 $242.5K$255.5K
+5.4%
4 $286.5K$294.1K
+2.6%
5+ $315K$369.8K
+17.4%

Summary: Milwaukee County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.7%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 17.4%.

Median Sold Price Compared To Nearby Counties

Ozaukee County
+10.0%
Racine County
+9.7%
Waukesha County
+7.4%
Milwaukee County
+5.4%

Housing Supply in Milwaukee County, WI

How many homes are available in Milwaukee County, WI?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2,1342,331+9.2%

Summary: The Milwaukee County real estate market had 2,331 homes for sale in May 2024, a 9.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 8588
+3.5%
2 502518
+3.2%
3 9981,078
+8.0%
4 427504
+18.0%
5+ 122143
+17.2%

Summary: The Milwaukee County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.5%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 18%, and 5+ bedroom homes increased by 17.2%.

Number of Homes Sold

Apr 2024May 2024CHANGE
7157180.4%

Asking Price vs. Sold Price

170 Homes Were Sold
Under Asking

102 Homes Were Sold
At Asking

446 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Milwaukee County, you could pay more than the asking price. 62.1% of homes here sold above asking price last month.

Summary: A total of 718 homes were sold or pending in Milwaukee County in May 2024, up by 0.4% month-over-month. Of the 718 sold homes, 24% were sold under asking, 14% were sold at asking, and 62% were sold over asking.

Days on Market for Milwaukee County, WI

How long does it take to sell a home in Milwaukee County, 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 Milwaukee County are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 718 homes were sold in Milwaukee County; 0% 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 1 Day Ago

Newest Listings in Milwaukee County, WI

Nearby Markets to Milwaukee County, WI

What housing markets are near Milwaukee County, WI?