April 2023 Market Update

Buyers are pleased to see an increase in inventory but still face a lot of competition when making an offer.  Many buyers are closing quickly as the number of days on market has been declining.  Before you start looking at a home, it is key to talk with a lender or have proof of funds ready.  To be in this market you must act quick and be educated on the local area.  

Washington County - A total of 98 homes were sold in April 2023.  Compared to March, the number of homes sold increased by 9 resulting in a 10% increase.  Month-over-month, median list price ($334,900) rose by 2% and median sale price ($352,500) fell by 3%.  In addition, the average number of days on market was 27 days, a 1-day decrease month-over-month.  The sales/list price ratio in April was 101%, 1% higher than March.  

Waukesha County - A total of 336 homes were sold in April 2023.  Compared to March, the number of homes sold increased by 53, a 19% increase.  Month-over-month, median list price ($419,900) & median sale price ($429,375) both increased by 1% and 6%, respectively.  In addition, the average number of days on market was 21 days, a 5-day decrease month-over-month.  The sales/list price ratio in April was 103%, 1.5% higher than March.  

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.