"As the report shows, buyers faced with continued elevated mortgage rates are looking for markets where their budgets stretch further-and Milwaukee continues to fit that need. Milwaukee's price gains show why buyers are landing here Milwaukee recorded a median list price of $379,000 in November, up 3.8% compared to last year. Price per square foot climbed 4.2% during the same period, sharply outperforming the national PPSF decline of 1.0%. This strength places the city among the top refuge markets identified in the report, which highlights metros where affordability has supported price resilience."
"Long-term pricing trends are even more telling. Since 2022, Milwaukee's PPSF has surged 21.0%, the highest growth among all refuge markets highlighted-narrowly surpassing Cleveland's 20.3%. These metros remain priced well below national levels, and their strong appreciation reflects how regional affordability advantages have continued to attract buyers. Among nearby peers, Chicago offers the closest comparison, located roughly 90 miles south. But Chicago's PPSF rose only 0.8% year-over-year and its median list price declined 1.1%-a contrast that underscores Milwaukee's relative affordability and much stronger growth trajectory."
Milwaukee functions as a refuge market where affordability attracts buyers and supports price resilience. Median list price reached $379,000 in November, a 3.8% year-over-year increase, while price per square foot rose 4.2%, outperforming the national PPSF decline of 1.0%. Since 2022, PPSF surged 21.0%, the highest growth among refuge metros, slightly above Cleveland's 20.3%. Chicago saw only 0.8% PPSF growth and a 1.1% median price decline, highlighting Milwaukee's relative affordability. Active listings increased 0.6%, new listings dipped 0.4%, homes sold one day faster, and price reductions declined modestly, signaling improved seller pricing power.
Read at SFGATE
Unable to calculate read time
Collection
[
|
...
]