What is the current state of the Milwaukee housing market?

The Milwaukee housing market remains highly competitive, with home prices up 9.7% year-over-year in October 2025. Inventory is low, favoring sellers, and first-time homebuyers are struggling to compete with wealthier buyers.

How have mortgage rates affected the Milwaukee housing market?

Mortgage rates around 6.2% have caused many would-be buyers to stay out of the Milwaukee housing market, leading to a slowdown in sales compared to the peak levels of 2022 when rates were around 3%.

What is the outlook for the Milwaukee housing market in the coming years?

The Greater Milwaukee Association of Realtors President expects interest rates to remain around 5% to 6% through the end of the decade, and home sales are expected to approach 2022 levels in the next few years as the market adjusts to the new status quo.

Home / Business and Economy / Milwaukee Home Prices Surge as Buyers Compete for Scarce Listings

Milwaukee Home Prices Surge as Buyers Compete for Scarce Listings

17 Nov

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Summary

Home prices in Milwaukee area up 9.7% year-over-year
Inventory remains low, favoring sellers despite 4.3% increase
First-time buyers struggle to compete with wealthier buyers

Milwaukee Home Prices Surge as Buyers Compete for Scarce Listings

According to a report from the Greater Milwaukee Association of Realtors, home prices in the Milwaukee metropolitan area rose 9.7% in October 2025 compared to the same month a year earlier. The average home sold for $437,000, a slight slowdown from the 10.7% increase seen in September.

While home sales in the four-county region were up 1.6% year-over-year, the market remains well below the peak levels of 2022 when interest rates were around 3%. Mortgage rates currently hover around 6.2%, causing many would-be buyers to stay on the sidelines.

The housing inventory has ticked up 4.3% year-to-date, sitting at 3.4 months in October. However, demand remains high, and homes are selling quickly, with just 1.7 months of inventory for homes without offers. The market still heavily favors sellers.

The shortage in new housing supply continues to be a challenge, with the Milwaukee area needing an additional 3,730 listings in October to reach a balanced market. This supply crunch is squeezing first-time Millennial and Gen Z homebuyers, who must compete with wealthier, more experienced Baby Boomers for the limited number of homes available.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.