Southeast Wisconsin home sales up, but buyers still face a crowded market

MILWAUKEE, Wis. (Civic Media) – Home sales in southeast Wisconsin rose in the first quarter of 2026, but the region is still dealing with a tight housing market and higher prices.

According to the Greater Milwaukee Association of Realtors, metro-area sales were up 2.1% and listings climbed 11.8% compared with a year ago. The average sale price in the metro area rose 5% to $457,448, while Milwaukee County’s average sale price increased 8.6% to $320,184.

The report says buyers are still competing for too few homes, even with more listings coming on the market. In the four-county metro area, first-quarter listings reached 5,050, and March alone saw 1,986 new listings, up 14.9% from a year earlier. The association says the market needs about 8,000 units to meet current demand and help slow price growth.

Milwaukee County officials announced plans yesterday for what they say will be the first affordable housing subdivision in a suburban community in the county. The project is planned for Oak Creek and is meant to help ease the area’s housing shortage while giving more families a path to home ownership.

Sales were mixed across the region. In the first quarter, Racine County sales rose 8.2%, while Kenosha County sales were basically flat, up 0.3%. New listings also increased in both counties, with March listings up 8.5% in Racine County and 8% in Kenosha County.

The GMAR report says more homes are helping, but not enough to bring balance back to the market.

Realtors say the shortage is being fueled by demand from several generations at once, with first-time buyers from Gen Z and the millennial generation competing against baby boomers who are also trying to move.

They warn that without more homes, especially single-family houses and condominiums, more would-be buyers could be pushed into renting and miss out on building home equity.