Top Real Estate Agents in Milwaukee, Wisconsin

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2023 Milwaukee, Wisconsin Housing Market Summary

Milwaukee, Wisconsin started 2023 with a total of 385 single-family homes on the market, with a median home price of $174,900 and an average price per square foot of $130. By the end of the year, inventory had increased to 466 homes on the market (+21%), with a median home price of $165,000 (-5%) and an average price per square foot of $134 (+3%).

At the start of 2023, the median days on market (DOM) was 49 days – by the end of the year, median DOM had increased to 56 days.

Milwaukee started the year with 44% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 50% of Milwaukee homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Milwaukee started 2023 as a strong seller’s market, with an MAI score of 60; by the end of the year, the MAI had dropped to 46 – a strong seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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