Milwaukee Housing Market Report December 2024•Milwaukee County, Wisconsin

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Housing Prices in Milwaukee, WI

How much do homes in Milwaukee, WI cost?

Housing Market Conditions

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

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Milwaukee is a Seller's Market

Difference Since December 2023

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

Insight

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

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$250,092$180/SqFt
+$19,987
+8.7%

Based on all homes sold in the last 12 months

Insight

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

Summary: The median home sold price in Milwaukee was $250,092 in December 2024, up 8.7% from last year, and the median price per square foot was $180.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Milwaukee
+8.7%
West Allis
+7.4%
Wauwatosa
+3.3%
Shorewood
+3.1%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1$173.2K$185.5K
+7.1%
2$185K$210K
+13.5%
3$239.9K$260K
+8.4%
4$261.5K$286.5K
+9.6%
5$278K$399.9K
+43.8%

Summary: Milwaukee housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes increased by +7.1%. The home price for 2 bedroom homes increased by +13.5%. The home price for 3 bedroom homes increased by +8.4%. The home price for 4 bedroom homes increased by +9.6%. The home price for 5 bedroom homes increased by +43.8%.

Housing supply in Milwaukee, WI

How many homes are available in Milwaukee, WI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
1,652Last MonthDec 2024
1,7702 months agoNov 2024
-6.7 %
Change MoMNov – Dec

Summary: The Milwaukee real estate market had 1,652 homes for sale in Dec 2024, a 6.7 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
484Last MonthDec 2024
4772 months agoNov 2024
+1.5 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
17375
+2.7%
2374355
-5.1%
3865785
-9.2%
4368341
-7.3%
59096
+6.7%

Summary: Milwaukee housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes increased by +2.7%. The inventory for 2 bedroom homes decreased by -5.1%. The inventory for 3 bedroom homes decreased by -9.2%. The inventory for 4 bedroom homes decreased by -7.3%. The inventory for 5 bedroom homes increased by +6.7%.

Asking Price vs. Sold Price

How much do homes in Milwaukee, WI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price177 Homes

At Asking Price78 Homes

Under Asking Price229 Homes

Insight

If you're buying a home in Milwaukee, you may be able to get a good deal. 47.3% of homes here sold below asking price last month.

Summary: A total of 484 homes were sold or pending in Milwaukee in December 2024, up by 1.5% month-over-month. Of the 484 sold homes, 47% were sold under asking, 16% were sold at asking, and and 37% were sold over asking.

Days on Market for Milwaukee, WI

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

Home sale times aren’t available for this area.

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Newest Listings in Milwaukee, WI

What homes are available in Milwaukee, WI?

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Nearby markets

Popular Cities with Homes for Sale in Wisconsin

MLS Disclaimers and Copyright

Based on information from Wisconsin Real Estate Exchange, for the period 01/01/2023 - 01/01/2025

© 2025 WIREX - All Rights Reserved.

Information is supplied by seller and other third parties and has not been verified. All information deemed reliable but not guaranteed and should be independently verified. Information is supplied by seller and other third parties and has not been verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker nor this broker nor MLS shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 10:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.