$1,674 Closing Credit*
$141,000
460 SqFt
Studio
•1 Full Bath
#1899714, Christ Mesoloras, Listing Office: Golden Oaks Realty LLC
Is Milwaukee, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Milwaukee has remained a Seller's Market.
Key Takeaway
Milwaukee is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Milwaukee, WI
How much do homes in Milwaukee, WI cost?
Median Sold Price
$245,559
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,578(+6.8%)
Key Takeaway
Homes in Milwaukee have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Milwaukee was $245,559 in October 2024, up 6.8% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $180K | +2.9% |
| 2 Bedrooms | $185K | $205K | +10.8% |
| 3 Bedrooms | $235K | $253.7K | +8.0% |
| 4 Bedrooms | $265.6K | $278.9K | +5.0% |
| 5+ Bedrooms | $278.5K | $369K | +32.5% |
Summary: Milwaukee housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.9%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 32.5%.
Median Sold Price Compared To Nearby Cities
| West Allis | $235K | $255K | +8.5% |
| Milwaukee | $229.9K | $245.5K | +6.8% |
| Wauwatosa | $365K | $386.1K | +5.8% |
| West Milwaukee | $217.7K | $215K | -1.3% |
| Shorewood | $507K | $493K | -2.8% |
Housing Supply in Milwaukee, WI
How many homes are available in Milwaukee, WI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,838 | 2,049 | +11.5% |
Summary: The Milwaukee real estate market had 2,049 homes for sale in October 2024, a 11.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 69 | 84 | +21.7% |
| 2 Bedrooms | 407 | 447 | +9.8% |
| 3 Bedrooms | 880 | 987 | +12.2% |
| 4 Bedrooms | 404 | 437 | +8.2% |
| 5+ Bedrooms | 78 | 94 | +20.5% |
Summary: The Milwaukee housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.7%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 20.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 554 | 480 | -13.4% |
Asking Price vs. Sold Price
170 Homes Were Sold
Under Asking
69 Homes Were Sold
At Asking
241 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Milwaukee, you could pay more than the asking price. 50.2% of homes here sold above asking price last month.
Summary: A total of 480 homes were sold or pending in Milwaukee in October 2024, down by 13.4% month-over-month. Of the 480 sold homes, 35% were sold under asking, 14% were sold at asking, and 50% were sold over asking.
Days on Market for Milwaukee, WI
We’re sorry, we don't have information for this market at the moment
