February 2023 Market Update

In today's market, it's best to be educated on how fast things are moving and you should expect to act quickly.  For example, property listings that are priced competitively are getting close to 20 offers and are selling much higher than the asking price.  Some are selling for 15% higher than asking.  Before you start your home search or decide to sell, it's best to understand what's going on in your local market.  

Washington County - A total of 59 homes were sold in February 2023.  Compared to January, the number of homes sold decreased by 4, a 6% decrease.  Month-over-month, median list price ($400,000) increased by 14.28% and median sale price ($332,000) decreased by 0.89%.  In addition, the average number of days on the market was 33 days, a 1-day increase month-over-month.  The sales/list price ratio in February 2023 was 98.21%, 1.87% higher than January.  

Waukesha County - A total of 211 homes were sold in February 2023.  Compared to January, the number of homes sold increased by 16, an 8% increase.  Month-over-month, median list price ($364,900) & median sale price ($400,000) both decreased by 3.96% and 4.19%, respectively.  In addition, the average number of days on the market was 24 days, a 3-day decrease month-over-month.  The sales/list price ratio in February 2023 was 100.01%, 2.26% higher than January.  

Please see below for statistics specific to Menomonee Falls and Sussex.  Please reach out for any questions.  *To avoid any confusion, please see below graphics for definitions on real estate terms and lingo. Data & Statistics from MetroMLS.