Is Oak Creek, 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, Oak Creek has remained a Seller's Market.
Key Takeaway
Oak Creek is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oak Creek, WI
How much do homes in Oak Creek, WI cost?
Median Sold Price
$355,000
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Oak Creek have sold for 4.4% more than they did a year ago.
Summary: The median home sold price in Oak Creek was $355,000 in May 2024, up 4.4% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $176.9K | $200K | +13.1% |
| 2 Bedrooms | $222K | $246.5K | +11.0% |
| 3 Bedrooms | $345K | $370K | +7.2% |
| 4 Bedrooms | $449K | $425K | -5.3% |
| 5+ Bedrooms | $593K | $710K | +19.7% |
Summary: Oak Creek housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.1%, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 7.2%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 19.7%.
Median Sold Price Compared To Nearby Cities
| South Milwaukee | $240K | $260K | +8.3% |
| Cudahy | $235K | $246.2K | +4.8% |
| Oak Creek | $340K | $355K | +4.4% |
| Milwaukee | $225.2K | $234.9K | +4.3% |
| Caledonia | $336.3K | $350K | +4.1% |
Housing Supply in Oak Creek, WI
How many homes are available in Oak Creek, WI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 65 | 70 | +7.7% |
Summary: The Oak Creek real estate market had 70 homes for sale in May 2024, a 7.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 14 | 9 | -35.7% |
| 3 Bedrooms | 33 | 41 | +24.2% |
| 4 Bedrooms | 15 | 18 | +20.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Oak Creek housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 35.7%, 3 bedroom homes increased by 24.2%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 22 | -21.4% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oak Creek, you could pay more than the asking price. 68.2% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Oak Creek in May 2024, down by 21.4% month-over-month. Of the 22 sold homes, 9% were sold under asking, 23% were sold at asking, and 68% were sold over asking.
Days on Market for Oak Creek, WI
How long does it take to sell a home in Oak Creek, 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
Key Takeaway
Many homes in Oak Creek are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in Oak Creek; 5% 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.
