Market Conditions for Milwaukee - November 2019 | Shorewest Realtors®
November 2019

Market Conditions for Milwaukee

Median Sale Price Graph

Median Sale Price

The median sale price for homes in November was $138,500. The median sales price for homes in November fell by ($6,500) compared to last month. This represents a 4.48% decrease from October. Compared to the same month last year, the median price of homes rose by $13,600 representing a 10.88% year-over-year change.

Homes for Sale Graph

Homes for Sale

The inventory of homes for sale fell by 156 in November to 1,056. This represents 12.87% decrease from October when 1,212 homes were on the market. Compared to the same month last year when there were 1,156 homes for sale, the inventory of homes for sale has fallen by 100 representing a -8.65% year-over-year change.

Homes for sale represents the number of active listings on the market during the specified month as reported in the MLS system operating within the market area.

Homes Sold Graph

Homes Sold

The 344 homes sold in November was 30 less than in October. This represents a 8.02% decrease in sales from October. Compared to the same month last year, the number of homes sold increased by 17, a 5.19% year-over-year increase.

Homes sold is the total count of properties in the market area that have had a closed sale during the specified month as reported in the MLS systems operating within the market area.

Average Days on Market Graph

Avg Days on Market

The average days on market for a home sold in November (34) did not change Compared to the same month last year, the days on market for homes sold decreased by 9, a -20.93% year-over-year change.

Average Days on Market is the time period between the date when a home is listed for sale in an MLS system and the date it is sold.

Sale/List Price Ratio

Sale/List Price Ratio

The Sale/List Price Ratio of 94.69% in November fell by 1.1% compared to October and increased 0.47% compared to the same period last year.

Sale/List Price Ratio is the sale price of a listing divided by the original list price expressed as a percentage. The Sale/List Price Ratio for the market is determined by adding the Sale/List Price Ratio for each listing sold in the market during the month and dividing by the number of listings sold during the month.

New Homes Graph

New Homes

The number of homes listed in November (367) fell by 162 compared to October, a 30.62% change. Compared to November 2018, the number of new listings decreased by 19, a -4.92% year-over-year change.

Newly Listed Homes are the total count of homes that have been listed within the market area during the most recent month, as reported in the MLS system(s) operating in the market area.

Median List Price Graph

Median List Price

The median list price in November was $124,900. The median list price for homes in November fell by ($10,100) compared to last month. This represents a 7.48% decrease from October. Compared to the same month last year, the median list price of homes decreased ($100) representing a -0.08% year-over-year decrease.