Is Lake Mills, WI 53551 a buyer’s or seller’s market?
Lake Mills is a seller’s market. With about 1.9 months of supply and 28% 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 61% of U.S. ZIP codes, and #203 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 Lake Mills housing market right now
In the three months ending August 31, 2026, 28% of homes in Lake Mills, WI 53551 sold above their list price, the typical home went under contract in 45 days and there were 1.9 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 40 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 33%, homes sold more slowly (33 days then) and the median sale price rose 19% to $419,818. Overall, Lake Mills is less competitive than a year ago, which gives buyers more room.
Within Jefferson County, homes here sell more slowly than in 78% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county. On our competition score, Lake Mills ranks #203 of 319 WI ZIP codes with enough sales (score 59 out of 100).
Nearby, Helenville 53137 (60% sold over asking) and Sullivan 53178 (57% sold over asking) are even more competitive.
Run the numbers for 53551
Nearby markets
Fort Atkinson 53538Seller’s market $201 /sq ftHelenville 53137Seller’s market $251 /sq ftIxonia 53036Balanced $200 /sq ftJefferson 53549Seller’s market $207 /sq ft Browse all markets →Towns like Lake Mills nearby
Find towns like Lake Mills in other states →Where Lake Mills is
Loading map…
Questions about Lake Mills real estate
Is Lake Mills a buyer’s or seller’s market?
A seller’s market: there were 1.9 months of supply in Lake Mills, WI 53551 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 Lake Mills?
The typical home went under contract in 45 days in the latest three months.
Do homes in Lake Mills sell over asking?
28% of homes sold above their original list price, and the typical sale closed at 98.7% of the list price.
What are property taxes in Lake Mills?
About 1.46% of a home’s value a year in Jefferson County, or roughly $5,840 on a $400,000 home.
What is the median home price in Lake Mills?
The median sale price was $419,818 in the three months ending August 31, 2026, about $229 per square foot.
Local agents
See all agents in 53551 →No sponsored agents in 53551 yet. Are you an agent here? Put your name in front of local buyers.
More tools for 53551
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology