West Milwaukee, WI Real Estate

West Milwaukee is a village in Milwaukee County of 4,000 residents. It is a small, primarily suburban community bordered by the cities of West Allis and Milwaukee that has made rapid developments in recent years. Sitting in the center of the county, West Milwaukee provides access to many amenities for its residents to enjoy.

For the sports fan, athletic venues like the Miller Park Baseball Complex, the Bradley Center and the Pettit Ice Center are all within proximity. Do you walk on the wild side? Take a trip to the Milwaukee County Zoo, home to over 2,275 mammals, birds, fish, amphibians and reptiles with more than 330 species represented. Feel like celebrating? Make your way to the Wisconsin State Fair or the world’s largest music festival, Summerfest.

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Market Conditions for West Milwaukee - December 2019 | Shorewest Realtors®
December 2019

Market Conditions for West Milwaukee

Median Sale Price Graph

Median Sale Price

The median sale price for homes in December was $161,250. The median sales price for homes in December rose by $57,250 compared to last month. This represents a 55.04% increase from November. Compared to the same month last year, the median price of homes rose by $29,350 representing a 22.25% year-over-year change.

The median sales price is the middle value of all sales occurring in the market during the past thirty days when you arrange these sales prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of a few unusually low or high sales prices.

Homes for Sale Graph

Homes for Sale

The inventory of homes for sale rose by 2 in December to 9. This represents 28.57% increase from November when 7 homes were on the market. Compared to the same month last year when there were 6 homes for sale, the inventory of homes for sale has risen by 3 representing a 50% 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 2 homes sold in December was the same as in November. Compared to the same month last year, the number of homes sold decreased by 3, a -60% year-over-year decrease.

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 December (26) increased by 24 days compared to November. This represents a 1,200% increase in days on market for homes in the market from the previous month. Compared to the same month last year, the days on market for homes sold decreased by 52, a -66.66% 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 99.61% in December fell by 18.89% compared to November and increased 8.92% 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 December (4) remained level Compared to December 2018, the number of new listings increased by 1, a 33.33% 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 December was $172,400. The median list price for homes in December rose by $62,500 compared to last month. This represents a 56.86% increase from November. Compared to the same month last year, the median list price of homes increased $27,500 representing a 18.97% year-over-year increase.

The median list price is the middle value of all currently active listings as reported in the MLS systems in the market area when you arrange these list prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of the existence of a few unusually low or high list prices.




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