Summit, WI Real Estate

Located along Interstate-94, the small town of Summit, Wisconsin offers a friendly and safe atmosphere. With an excellent rural and lake country environment, Summit provides many outdoor recreational activities and state parks. Close to Madison and Milwaukee, Summit is near to metropolitan amenities such as professional sporting events and various entertainments. The Waukesha County based town offers great housing developments, shopping and outstanding school districts.

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Real Estate
The Summit housing market offers an array of homes for sale. Houses on the market include updated Ranches on private lots, charming Tudors on large lots, Lakefront homes and million-dollar estates with luxurious amenities.

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Surrounded by a rural environment, Summit provides a great place to enjoy the outdoors. With local parks, state parks and lakes nearby, the town offers many activities for residents to enjoy.

The town offers three local parks open to the public for recreational use. Williams Jones Subdivision Park, Peter Prime Park and Genesee Lake Park are all maintained by Summit’s Park and Recreation Commission.

Genesee Lake provides a quality place to enjoy water sports and fishing. Located south of Interstate-94 and east of Highway 67, Genesee Lake is a great place to relax. Primary catches of the day are Bluegill, Northern Pike and Largemouth Bass. Duck Lake and Crooked Lake are also nearby lakes to visit.

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First settled in 1837, the town of Summit was a part of Milwaukee County. After Summit was established, there were 335 settlers in Summit. The first postmaster was declared, Curtis Reed, and the first church was constructed in 1842.

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Summit properties for sale

Market Conditions
Market Conditions for Summit - October 2019 | Shorewest Realtors®
October 2019

Market Conditions for Summit

Median Sale Price Graph

Median Sale Price

The median sale price for homes in October was $410,000. The median sales price for homes in October fell by ($171,250) compared to last month. This represents a 29.46% decrease from September. Compared to the same month last year, the median price of homes fell by ($189,900) representing a -31.65% year-over-year change.

Homes for Sale Graph

Homes for Sale

The inventory of homes for sale remained level in October to 61. Compared to the same month last year when there were 37 homes for sale, the inventory of homes for sale has risen by 24 representing a 64.86% 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 7 homes sold in October was 1 less than in September. This represents a 12.5% decrease in sales from September. Compared to the same month last year, the number of homes sold decreased by 2, a -22.22% 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 October (74) decreased by 50 days compared to September. This represents a 40.32% 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 increased by 25, a 51.02% 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 96.09% in October rose by 1.78% compared to September and decreased 0.17% 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 October (13) fell by 3 compared to September, a 18.75% change. Compared to October 2018, the number of new listings increased by 3, a 30% 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 October was $479,900. The median list price for homes in October rose by $10,000 compared to last month. This represents a 2.12% increase from September. Compared to the same month last year, the median list price of homes decreased ($167,550) representing a -25.87% year-over-year decrease.

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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