Is Elkhart Lake, WI 53020 a buyer’s or seller’s market?
Elkhart Lake is a seller’s market. With about 2.7 months of supply and 24% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 34% of U.S. ZIP codes, and #287 of 319 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Elkhart Lake housing market right now
In the three months ending August 31, 2026, 24% of homes in Elkhart Lake, WI 53020 sold above their list price, the typical home went under contract in 86 days and there were 2.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 22 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 17%, homes sold more slowly (57 days then) and the median sale price fell 14% to $455,003. Overall, Elkhart Lake is about as competitive as it was a year ago.
Within Sheboygan County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county. On our competition score, Elkhart Lake ranks #287 of 319 WI ZIP codes with enough sales (score 36 out of 100).
Nearby, Adell 53001 (100% sold over asking) and Waldo 53093 (100% sold over asking) are even more competitive.
Run the numbers for 53020
Nearby markets
Adell 53001Seller’s market $229 /sq ftCascade 53011Balanced $193 /sq ftCedar Grove 53013Seller’s market $236 /sq ftGlenbeulah 53023Seller’s market $174 /sq ft Browse all markets →Towns like Elkhart Lake nearby
Find towns like Elkhart Lake in other states →Where Elkhart Lake is
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Questions about Elkhart Lake real estate
Is Elkhart Lake a buyer’s or seller’s market?
A seller’s market: there were 2.7 months of supply in Elkhart Lake, WI 53020 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Elkhart Lake?
The typical home went under contract in 86 days in the latest three months.
Do homes in Elkhart Lake sell over asking?
24% of homes sold above their original list price, and the typical sale closed at 96.2% of the list price.
What are property taxes in Elkhart Lake?
About 1.39% of a home’s value a year in Sheboygan County, or roughly $5,560 on a $400,000 home.
What is the median home price in Elkhart Lake?
The median sale price was $455,003 in the three months ending August 31, 2026, about $248 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology