Whitefish Bay, WI Real Estate

Whitefish Bay Properties

The Village of Whitefish Bay offers a friendly community with an attractive location near Lake Michigan and downtown Milwaukee. The village is known for its safe environment with great local government services. With tree-lined streets and great architectural scenery, the village is ideal for walkers.

Real Estate
Whitefish Bay offers a diverse stock of homes in the area which include Colonials, Mediterranean style, Duplexes, and Historic mansions. Older quality homes in the area were built in the 1910s and 1920s, and have had extensive remodels and expansions. For those who are looking for a particular style, the area’s selection does have Georgian Revival, Tudor, Dutch Colonial, and Bungalow. Condominiums are newly developed and scattered throughout the village. The cost for a home in the village of Whitefish Bay ranges from $150,000 to $8 million with an average price of $270,270.

Amenities
The Whitefish Bay area provides recreational opportunities for the whole family. The village has lakefront access that allows for many water activities. Parks on the lake offer plenty of playgrounds and acres of open land for kids to enjoy. Residents can enjoy swimming, boating, and fishing off the shores of Lake Michigan. The area has an eclectic mix of local shops within walking distance. Conveniently located shopping is available on Silver Spring Drive and the village is close to Bayshore Town Center.

History
The first population in the Whitefish Bay area was the Native Americans who benefited from the nearby lake and created their establishment on the open land. Farmers soon came and took advantage of the fertile land to grow their crops. The area soon became popular for summer time tourists from all over the region. Entrepreneur, Captain Frederick Pabst, paid out $30,000 on property to construct a resort in 1889. More than 10,000 people visited the resort on a summer’s day to enjoy the daily concerts, watch outdoor movies, and ride the Ferris wheel. The resort lost its appeal in 1914, but the area was still a hot spot for people who took pleasure in the area. The land was separated into residential lots in 1915. Homes are still located on the resort’s former property today. Whitefish Bay was incorporated as a village in the summer of 1982.

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Market Conditions
Market Conditions for Whitefish Bay - July 2020 | Shorewest Realtors®
July 2020

Market Conditions for Whitefish Bay

Median Sale Price Graph

Median Sale Price

The median sale price for homes in July was $470,000. The median sales price for homes in July rose by $65,000 compared to last month. This represents a 16.04% increase from June. Compared to the same month last year, the median price of homes rose by $93,000 representing a 24.66% 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 fell by 8 in July to 30. This represents 21.05% decrease from June when 38 homes were on the market. Compared to the same month last year when there were 46 homes for sale, the inventory of homes for sale has fallen by 16 representing a -34.78% 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 29 homes sold in July was 2 less than in June. This represents a 6.45% decrease in sales from June. Compared to the same month last year, the number of homes sold did not change 0, a 0% year-over-year .

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 July (15) decreased by 11 days compared to June. This represents a 42.3% decrease 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 7, a -31.81% 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 99.53% in July rose by 2.49% compared to June and increased 3.26% 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 July (25) fell by 22 compared to June, a 46.8% change. Compared to July 2019, the number of new listings decreased by 8, a -24.24% 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 July was $425,000. The median list price for homes in July fell by ($24,000) compared to last month. This represents a 5.34% decrease from June. Compared to the same month last year, the median list price of homes increased $60,000 representing a 16.43% 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.




Rates and fees are subject to adjustments based on your credit score and the loan-to-value ratio. Rates and fees are also subject to change without notice. Other rates and loan programs are available.
All applications are subject to current underwriting guidelines and credit approval. EHL NMLS#280412

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