Waukesha, WI 53188 Real Estate Market Report

ZIP Code: 53188
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Waukesha, WI, are averaging 6.35%, reflecting a market environment where rates have fluctuated significantly throughout 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The neighborhood's median sold price is 374,900, serving as the primary indicator of realized market value and recent transaction activity; price momentum is up year‑over‑year, suggesting modest appreciation rather than rapid acceleration.

2. There is a notable spread between the median listing price (448,900) and the median sold price (374,900), which may indicate pricing friction or elevated seller expectations relative to what buyers are transacting at.

3. The market shows a long median days on market of 265, which points to slower sales velocity and suggests that properties are taking extended time to clear at accepted prices; this appears consistent with a neutral market temperature rather than a sharply imbalanced one.

4. Rental and financing context: the median market rent is 1,432 with rent trends up, while mortgage cost pressure is moderate at 6.35%, implying rental demand is strengthening even as borrowing costs remain a caution for buyers.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Waukesha, WI 53188 Real Estate Market Report

ZIP Code: 53188
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Waukesha, WI, are averaging 6.35%, reflecting a market environment where rates have fluctuated significantly throughout 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The primary market signal is the median sold price of 285,000, which indicates recent transaction values and suggests a market that is appreciating given the reported price year-over-year trend is up.

2. There is a pronounced spread between the median listing price of 415,000 and the median sold price of 285,000, which may indicate pricing friction where seller expectations exceed recent transaction levels and could require adjustments for faster liquidity. caution

3. The market shows slower sales velocity as reflected by the median days on market of 296, which suggests longer time-to-contract and that sellers may need patience or price/sales concessions to close deals. softening

4. Rent dynamics and financing context support investor interest: the median market rent of 2,000 combined with a rising rent trend (up) and moderate interest rate pressure at reported average mortgage rates near 6.35% may sustain demand for rental-stock acquisition while keeping buyer affordability constrained. moderate

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.