February home sales in the greater Milwaukee area rose by 2.9% over the year, marking a “solid month” for the region’s housing market.
That’s from the Greater Milwaukee Association of Realtors’ latest monthly report, which shows 964 homes were sold in February across Milwaukee, Waukesha, Ozaukee and Washington counties. That number was 937 in February 2025.
Looking at the broader southeastern Wisconsin region — wrapping in Sheboygan, Racine, Kenosha and Walworth counties — the increase was even greater at 4.3%. February home sales rose from 1,312 to 1,369 over the year for the region.
Most of the sales in February were negotiated in December and January, which are typically among the slowest months for homebuying activity, report authors noted.
Listings are on the rise in most counties in the region, signaling a positive trend for the industry.
In the four-county metro area, Washington County’s decline of 4.5% was easily outweighed by double-digit percentage increases for the other three counties, driving the area’s overall increase to 16.3%.
Similarly, the larger southeastern Wisconsin region saw a 15.7% increase over the year with 2,133 total listings in February. Of that total, 1,578 were within the four-county metro area.
“Inventory has been on the rise for over two years, rising in 24 of the last 32 months,” authors wrote. “But that has not been enough to meet demand.”
The report details how higher interest rates caused listings to plummet in recent years, going from a peak of 2,240 in February 2022 down to 1,610 in July 2023, a decline of 28%. GMAR notes early 2022 already had low listings and inventory that weren’t meeting buyer demand at the time, making the drop that much more impactful.
Since summer 2023, listings have improved by 12% to about 1,800, which report authors called “a positive sign, but frustratingly slow.”
Meanwhile, the average home price rose 1.9% over the year to reach $408,238.
GMAR projects the metro area would have needed nearly 4,800 more housing units in February to reach a balanced market, with about six months of supply. Reaching that threshold is important “because it provides a wider selection for buyers to choose from, moderates price inflation and offers more time for buyers to decide on a home,” authors wrote.
See more in the report.
