Is Elm Grove, WI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elm Grove is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Elm Grove has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Elm Grove, WI

How much do homes in Elm Grove, WI cost?

Median Sold Price

$575,000

$243/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$50,000(-8.0%)

Key Takeaway

Homes in Elm Grove have sold for 8% less than they did a year ago.

Summary: The median home sold price in Elm Grove was $575,000 in November 2024, down 8% from last year, and the median price per square foot was $243.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $255.7K$275K
+7.5%
2 $277.4K$301.5K
+8.7%
3 $464K$502.4K
+8.3%
4 $780K$795.5K
+2.0%
5+ $900K$915K
+1.7%

Summary: Elm Grove housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.5%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 1.7%.

Median Sold Price Compared To Nearby Cities

Brookfield
+9.1%
Wauwatosa
+4.4%
Elm Grove
-8.0%

Housing Supply in Elm Grove, WI

How many homes are available in Elm Grove, WI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1815-16.7%

Summary: The Elm Grove real estate market had 15 homes for sale in November 2024, a 16.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 24
+100.0%
3 128
-33.3%
4 43
-25.0%
5+ 00
0.0%

Summary: The Elm Grove housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
56+20.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elm Grove, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Elm Grove in November 2024, up by 20.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for Elm Grove, WI

We’re sorry, we don't have information for this market at the moment

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

Report Updated 17 Days Ago

Newest Listings in Elm Grove, WI

Nearby Markets to Elm Grove, WI

What housing markets are near Elm Grove, WI?