Wisconsin’s real estate market exhibits a blend of rising home prices, fluctuating sales volumes, and tight inventory levels, reflecting a competitive environment for both buyers and sellers.
🏡 Statewide Market Overview
-
Median Sale Price: In April 2025, the median home sale price in Wisconsin reached $328,500, marking a 4.3% increase year-over-year.
-
Home Sales Volume: Home sales experienced a 10.4% decline compared to April 2024. However, it’s noteworthy that April 2024 had an unusually high sales volume, making the year-over-year comparison less indicative of a downturn.
-
Inventory Levels: The number of homes for sale in April 2025 was 19,915, a 3.7% increase from the previous year. Despite this uptick, the market remains tight, with a supply of approximately 3.6 months, below the six-month benchmark that signifies a balanced market.
-
Median Days on Market: Homes spent a median of 46 days on the market in April 2025, slightly longer than the previous year, indicating a modest shift towards a more balanced market.
📍 Regional Highlights
Milwaukee
-
Price Growth: Milwaukee’s housing market has been particularly robust, with a 20% year-over-year increase in median sale prices as of February 2025. The median home price reached $330,000, still below the national median, making it an attractive market for buyers.
-
Market Dynamics: The city is experiencing heightened competition due to an influx of newcomers and a shortage of housing inventory, leading to increased bidding wars and rapid price appreciation.
Southeast Wisconsin
-
Inventory Changes: In April 2025, the Southeast region saw a 5.3% month-over-month increase in homes for sale, indicating a slight easing of inventory constraints in that area.
💰 Affordability and Mortgage Rates
-
Home Values: The average home value in Wisconsin stood at $325,770, reflecting a 4.8% increase over the past year.
-
Mortgage Rates: The average 30-year mortgage rate in Wisconsin is approximately 6.87%, slightly below the national average, which continues to influence buyer affordability and market dynamics.
🔮 Market Outlook
Wisconsin’s housing market is expected to maintain its upward trajectory in home prices, albeit at a moderated pace due to rising mortgage rates and slight increases in inventory. The market remains competitive, especially in urban centers like Milwaukee, where demand continues to outpace supply. Buyers may find more opportunities in smaller communities and rural areas, where inventory is gradually improving.