Oconomowoc, WI Real Estate

Oconomowoc, Wisconsin Real Estate

Oconomowoc, Wisconsin is a city in Waukesha County that serves as home to just under 15,000 residents. The city gained its name from a Potawatomi Indian term meaning, “River of Falling Waters,” due largely to the over 20 lakes within a 10-mile radius in Oconomowoc. The city is conveniently located halfway between Milwaukee and Madison and serves as a beautiful rural retreat. Oconomowoc’s natural beauty is offset by its outstanding school system, quality healthcare and bustling economy.


Real Estate in Oconomowoc, Wisconsin

Oconomowoc has a little bit of everything as far as real estate goes. There is a wide variety of houses for sale in Oconomowoc, one of the safest neighborhoods in Wisconsin. Merchants Platt is a small lakeside subdivision of fine custom homes for sale on large lots, built mostly in the 1900s. The main streets through Oconomowoc are lined with gorgeous old Queen Ann style homes, most of which have been painstakingly restored to their former glory. Houses for sale in Oconomowoc were built predominantly between 1900 and 1940. The pride of ownership in these established neighborhoods is evident through the level of care homeowners dedicate to their properties. If you prefer newer subdivisions, there are several built during the 1960s-1980s that contain many houses for sale in Oconomowoc. All of these subdivisions are neat, clean and stable. Newer still, there are many subdivisions containing houses for sale in Oconomowoc that are completely modern and some that are still under development. Oconomowoc’s real estate market has been growing exponentially in recent years and includes scenic lakeside homes, traditional country farmhouses, contemporary condominiums and apartments.


Living in Oconomowoc

Oconomowoc, Wisconsin is the heart of Lake Country, and its residents take full advantage of the incredible recreation opportunities afforded to them. The water activities are endless, from swimming to skiing, fishing to boating; Oconomowoc homeowners spend much of their time at the city’s lakes. Fowler Lake and Lac La Belle are two of the lakes that lie within the downtown district, bringing a rural feel to the bustling business center of this small town. Lac La Belle has a Friday Night Concert series that includes the American Legion Band. Moonlit Movies plays movies for children in Fowler Park at dusk following the Badgerland Water Ski Shows.

The Oconomowoc Parks, Recreation and Forestry Department provide some unique activities and opportunities to Oconomowoc residents. Teaming up with the Oconomowoc Area Chamber of Commerce, the Oconomowoc Parks, Recreation and Forestry Department put on events that would be impossible in larger cities. On one such event, they closed off the main downtown street and showed the iconic film “The Wizard of Oz” on a large screen in the middle of the street for children and families!

Children also enjoy the recently built Imagination Station, a community built, universally accessible playground. This completely inclusive playground provides a unique, heartwarming place where children of all abilities can play, regardless of any physical difficulties. Oconomowoc also has over 45 parks and lake access points, which provide a fun experience for everyone!

Downtown Oconomowoc is undergoing a complete revitalization at this time, including several large developments planned to bring people downtown to work and live. From a large city park downtown right on the lakefront to two large condominium projects, Oconomowoc’s downtown will be completely revitalized with small shops and businesses scattered throughout.

Overall, Oconomowoc is a very laid-back, outdoorsy community. Locals stroll through the beautiful community, taking in the views of the many lakes, and explore the opportunities presented by the Parks, Recreation and Forestry Department. Additionally, Oconomowoc homeowners like to stop in at the Kiltie Drive-In for a genuine taste of Americana. Everything on the menu is delicious at this summer staple, but be sure to try some of their famous custard! Many Oconomowoc residents break out their vintage cars to drive up to this completely retro drive-in, completing the 50s experience.

Oconomowoc is also an incredibly safe community, serviced by the Oconomowoc City Police Department as well as the Oconomowoc Fire Department. Additionally, Oconomowoc has many highly accredited hospitals, including a nationally recognized behavioral health services hospital and the first network-accredited cancer center in the nation to receive the American College of Surgeons Outstanding Achievement award in recognition of quality care. Not only does the city have some of the best healthcare per capita in the Midwest, but arguably in the entire United States.


Schools in Oconomowoc

The education system in the Oconomowoc area is excellent. The area is served by the Oconomowoc Area School District, consisting of five elementary schools, two middle schools and one high school. The schools offer supplemental learning opportunities in addition to the core curriculums, providing students with a well-rounded education. This system delivers results – Oconomowoc students score above the national averages on the ACT test and the high school graduation rate is almost 98 percent.

Secondary educational opportunities are abundant as well – Waukesha County Technical College is a two-year college located nearby and offers diplomas in a variety of fields. Carroll University is a private liberal arts college offering degrees in more than 36 fields. The University of Wisconsin – Waukesha is a four-year college with a concentration in liberal arts. The city’s convenient location also provides access to colleges in Milwaukee and Madison including University of Wisconsin – Milwaukee, University of Wisconsin – Madison, Marquette University, Milwaukee School of Engineering and the Milwaukee Institute of Art and Design.


Business in Oconomowoc

The city’s business climate has been growing rapidly over the years. Current major employers include International Bioflavors, the world leader in the development and manufacture of natural dairy flavors, and Bruno Independent Living Aids, a maker of state-of-the-art stair lifts, power chairs and other personal mobility products. Other businesses are often located in one of the four business parks in the area. The city offers companies some of the state’s lowest tax rates and access to many banks and financial institutions eager to provide capital to new and expanding businesses – all catalysts to the growth and success of the Oconomowoc business community.


History of Oconomowoc

Oconomowoc’s first residents were the Potawatomi Indians, until one of the founders of Milwaukee established a trading post in 1827. Oconomowoc’s name refers to the many lakes and waterways throughout the city, making it a prime area for business when the city was founded. Although business today relies less on water transportation, Oconomowoc remains a stronghold for small and large businesses alike while providing ample entertainment for adults and children of all ages.

To find homes for sale in Oconomowoc, click here.


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  District Type Enrollment # Student Teacher Ratio Test Score Rank
Greenland Elementary School  (Oconomowoc) Oconomowoc Area School District Public 375 17 GREENLAND ELEMENTARY SCHOOL GreatSchools Rating
Meadow View Elementary School  (Oconomowoc) Oconomowoc Area School District Public 510 20 MEADOW VIEW ELEMENTARY SCHOOL GreatSchools Rating
Nature Hill Intermediate School  (Oconomowoc) Oconomowoc Area School District Public 875 17 NATURE HILL INTERMEDIATE SCHOOL GreatSchools Rating
Oconomowoc High School  (Oconomowoc) Oconomowoc Area School District Public 1700 17 OCONOMOWOC HIGH SCHOOL GreatSchools Rating
Park Lawn Elementary School  (Oconomowoc) Oconomowoc Area School District Public 473 16 PARK LAWN ELEMENTARY SCHOOL GreatSchools Rating
Silver Lake Intermediate School  (Oconomowoc) Oconomowoc Area School District Public 700 15 SILVER LAKE  INTERMEDIATE SCHOOL GreatSchools Rating
St Jerome Parish School  (Oconomowoc) Archdiocese Of Milwaukee Catholic 250 13 ST JEROME PARISH SCHOOL GreatSchools Rating
Stone Bank Elementary School  (Oconomowoc) Stone Bank School District Public 360 14 STONE BANK ELEMENTARY SCHOOL GreatSchools Rating
Summit Elementary School  (Oconomowoc) Oconomowoc Area School District Public 460 18 SUMMIT ELEMENTARY SCHOOL GreatSchools Rating

Population Demographics

  City County State
Total Population 36,160 406,801 5,852,878
Total Households 13,911 158,933 2,349,819
Total Families 9,981 113,516 1,516,725
Percent Male 49% 49% 50%
Percent Female 51% 51% 50%
White Collar Jobs 62% 58% 58%
Blue Collar Jobs 38% 42% 42%

Top Occupations

Professions Population Employed
Professional Services 3,180
Healthcare 2,677
Sales 1,587
Maintenance 975
Manufacturing 878
Food 864
Social Services 857
Management 803
Transportation 660
Construction 625

Male Female Breakdown

Population Age

White vs Blue Collar Jobs

Top Professions

Work Transportation Method

Household Income

Education Attainment

  City County State
Some High School 680 7,569 224,571
High School Graduate 6,015 67,894 1,256,597
Some College 5,075 58,126 833,955
Associates Degree 2,220 27,255 410,260
Bachelors Degree 6,895 78,050 747,113
Graduate Degree 3,683 40,757 384,121

Education Attainment

Market Conditions
Market Conditions for Oconomowoc - January 2024 | Shorewest Realtors®
January 2024

Market Conditions for Oconomowoc

Median Sale Price Graph

Median Sale Price

The median sale price for homes in January was $494,500. The median sales price for homes in January fell by ($46,267) compared to last month. This represents a 8.55% decrease from December. Compared to the same month last year, the median price of homes rose by $19,600 representing a 4.12% 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 6 in January to 58. This represents 11.53% increase from December when 52 homes were on the market. Compared to the same month last year when there were 64 homes for sale, the inventory of homes for sale has fallen by 6 representing a -9.37% 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 16 homes sold in January was 14 less than in December. This represents a 46.66% decrease in sales from December. Compared to the same month last year, the number of homes sold decreased by 4, a -20% 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 January (55) increased by 29 days compared to December. This represents a 111.53% 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 increased by 17, a 44.73% 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 96.28% in January fell by 1.91% compared to December and decreased 0.32% 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 January (29) rose by 21 compared to December, a 262.5% change. Compared to January 2023, the number of new listings increased by 5, a 20.83% 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 January was $599,900. The median list price for homes in January rose by $112,450 compared to last month. This represents a 23.06% increase from December. Compared to the same month last year, the median list price of homes increased $150,400 representing a 33.45% 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.