Is Elm Grove, WI 53122 a buyer’s or seller’s market?

The Elm Grove housing market right now

In the three months ending August 31, 2026, 46% of homes in Elm Grove, WI 53122 sold above their list price, the typical home went under contract in 46 days and there were 2.3 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 38 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 43%, homes sold more slowly (31 days then) and the median sale price rose 35% to $776,164. Overall, Elm Grove is about as competitive as it was a year ago.

Within Waukesha County, homes here sell more slowly than in 62% of the county’s ZIP codes, and sell less often over asking than in 62%. On our competition score, Elm Grove ranks #86 of 319 WI ZIP codes with enough sales (score 76 out of 100).

Nearby, buyers who want less competition could look at Okauchee 53069 (0% sold over asking) or Wales 53183 (14% sold over asking), while Waukesha 53186 (71% sold over asking) and Butler 53007 (70% sold over asking) are even more competitive.