Milwaukee’s median sale price jumped 20% year over year in February

[Marcus Auerbach]

Redfin just posted their February numbers and listed Milwaukee #1 followed by Detroit and other Midwest markets. Bottom of the list FL and TX. Here is a link to the article: https://www.redfin.com/news/home-prices-rise-midwest-2025/

Milwaukee has been a trick market to invest over the last few years. With inventory ultra-low sellers have no reason to negotiate discounts and even properties in poor condition sell for close to the same price as their updated comparables down the street. The Midwest mentality has a hard time wrapping their head around this: always humble and a little self-deprecating, they don't believe in superlatives and that is what kept the market (and prices) sort-of grounded for the last few years. 

But I have been saying this on my channel for years: if you travel a little bit you realize Milwaukee is not a below-average city. So it makes no sense that Milwaukee real estate is selling so much below the national average. Speaking of national average: Redfin say the average US median price increase in February was 3%.

Here is the data from our local MLS system for the City of Milwaukee:

Milwaukee metro area - including the suburbs:

This is single-family only, I suspect that Redfin is looking at all categories, hence the slightly different numbers. 

In a couple weeks we will have March numbers, but from what I have seen in the market the last couple weeks the numbers are not going to be any softer. 

[Jay Hinrichs]

Quote from @Marcus Auerbach:

Quote from @Jay Hinrichs:

Quote from @Marcus Auerbach:

Quote from @Jay Hinrichs:

Quote from @Marcus Auerbach:

Hmm. We have a new USPS-lady from Texas and she said her friends back home recommended Milwaukee, which I found interesting, but considered a one-of. But maybe its not? Next years migration reports will tell

Texas draws them in with Jobs no doubt.. But from what I hear from my Texas clients is Weather drives them back out :)  But Texas will continue to grow given its pro business stance and no income tax.. although prop tax's can be through the roof. 

TX is a massive growth story for sure and the unemployment rate does not reflect the full picture, because of the sheer volume of jobs in TX, but I still get a kick out of the fact that WI unemployment is 3.2% and TX at 4.1%.

We have been lobbying in Madison for years for zoning that is more dense and cost-effective to build more "affordable" homes, around 400k. In fact the RPA is going to be there today.

Oregon just passed another law that encourages density.. thats all well and good but will the public buy it..  I know a few developers that did those tiny home clusters and the market did not accept them.. not enough parking and just to small.. your new builds are priced about the same as ours in suburbs of PDX not the top suburb but average price suburb sans basement no one builds basements unless its HIGH end lux home and you need it to get extra sq. ft.. I did that on my personal home.. But maybe google oregon new density rules probably interesting read for you. 

The Milwaukee major initiated a project called GrowingMKE to increase housing density by allowing mix used, low rise and ADUs in the sea of single family homes. This would create more walkable neighborhoods, think corner bakery. They call it the "missing middle" because Milwaukee is a vast sea of single family homes and then some downtown highrises, nothing in between. I think they model this after Washington DC. It would change the face of the city for sure, also solve the income problem we have with high of miles of infrastructure per household ratio.

Portlands term is called Middle housing.. but we have been doing commercial on the bottom floors condos above for long time now even in the burbs.. But we find folks still want a yard for the doggie :)