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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Milwaukee is a seller's market

Buyer's
Market

Difference Since November 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

$249,907

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$19,907(+8.7%)

Key Takeaway

Homes in Milwaukee have sold for 8.7% more than they did a year ago.

Summary: The median home sold price in Milwaukee was $249,907 in November 2024, up 8.7% from last year, and the median price per square foot was $178.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $169.8K$188.7K
+11.1%
2 $184.9K$209.2K
+13.1%
3 $237.2K$255.4K
+7.7%
4 $261.5K$285K
+9.0%
5+ $277K$369K
+33.2%

Summary: Milwaukee housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 13.1%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 33.2%.

Median Sold Price Compared To Nearby Cities

Milwaukee
+8.7%
West Allis
+8.5%
Wauwatosa
+4.4%
West Milwaukee
+2.2%
Shorewood
-0.7%

Housing Supply in Milwaukee, WI

How many homes are available in Milwaukee, WI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1,9261,924-0.1%

Summary: The Milwaukee real estate market had 1,924 homes for sale in November 2024, a 0.1% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 7783
+7.8%
2 426417
-2.1%
3 931919
-1.3%
4 407407
0.0%
5+ 8598
+15.3%

Summary: The Milwaukee housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.8%, 2 bedroom homes decreased by 2.1%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 15.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
539434-19.5%

Asking Price vs. Sold Price

167 Homes Were Sold
Under Asking

64 Homes Were Sold
At Asking

203 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Milwaukee, you could pay more than the asking price. 46.8% of homes here sold above asking price last month.

Summary: A total of 434 homes were sold or pending in Milwaukee in November 2024, down by 19.5% month-over-month. Of the 434 sold homes, 38% were sold under asking, 15% were sold at asking, and 47% were sold over asking.

Days on Market for Milwaukee, WI

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

Summary: During November 2024, 434 homes were sold in Milwaukee; 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 17 Days Ago

Newest Listings in Milwaukee, WI

Nearby Markets to Milwaukee, WI

What housing markets are near Milwaukee, WI?