Waukesha, WI 53188 Real Estate Market Report

ZIP Code: 53188
Report Date: April 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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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 Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Waukesha, WI are averaging 6.29% as of April 13, 2026, which is 0.16% higher than one week ago.

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. $375,000 median sold price is the best current measure of market value and suggests realized buyer willingness to transact near this level, even though asking prices are elevated relative to transactions.

2. $430,000 median listing price creates a meaningful spread versus closed sales and may require targeted pricing or marketing to avoid extended time on market; this points to potential pricing friction.

3. 248 median days on market indicates slower observed sales velocity despite a hot market label, so sellers should expect longer exposure before a sale unless priced aggressively.

4. 236.68950016402442 median price per square foot provides a granular pricing benchmark for underwriting and comparative pricing discussions in the neighborhood.

5. 1.54% property tax rate and $1,560 median market rent are relevant for investor underwriting and affordability analysis, but mortgage cost pressure is also a factor given reported moderate interest rate pressure.

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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.