Market Conditions for Oconomowoc

March 2019

Median Sale Price
$372,393

 UP 21.30%
vs. Month Ago
Homes for Sale
167

 UP 33.60%
vs. Month Ago
Homes Sold
25

 DOWN -7.40%
vs. Month Ago
Avg Days on Market
96

 UP 29.72%
vs. Month Ago

Median Sale Price

The median sale price for homes in March was $372,393. The median sales price for homes in March rose by $65,393 compared to last month. This represents a 21.3% increase from January. Compared to the same month last year, the median price of homes rose by $70,931 representing a 23.52% 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

The inventory of homes for sale rose by 42 in March to 167. This represents 33.6% increase from January when 125 homes were on the market. Compared to the same month last year when there were 154 homes for sale, the inventory of homes for sale has risen by 13 representing a 8.44% 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

The 25 homes sold in March was 2 less than in January. This represents a 7.4% decrease in sales from January. Compared to the same month last year, the number of homes sold decreased by 9, a -26.47% 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.

Avg Days on Market

The average days on market for a home sold in March (96) increased by 22 days compared to January. This represents a 29.72% 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 23, a 31.5% 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

The Sale/List Price Ratio of 95.49% in March fell by 2.44% compared to January and decreased 0.11% 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

The number of homes listed in March (84) rose by 48 compared to January, a 133.33% change. Compared to March 2018, the number of new listings increased by 9, a 12% 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 Homes

The median list price in March was $329,900. The median list price for homes in March fell by ($35,500) compared to last month. This represents a 9.71% decrease from January. Compared to the same month last year, the median list price of homes decreased ($44,000) representing a -11.76% year-over-year decrease.

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.