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Featured local agent — Oconomowoc Lake, WI
Sarah Mitchell
Compass Real Estate · Oconomowoc Lake, WI
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Oconomowoc Lake, WI Housing Market
The typical home in Oconomowoc Lake, WI is worth $2.08M, rose 15.7% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $1.95M, +19.3% year over year (through May 2026). With homes going under contract in about 138 days, Oconomowoc Lake is a leaning buyer's. At today's 7.03% 30-year fixed rate, 20% down on a $2.08M home is about $11,117/mo in principal and interest.
Key numbers for Oconomowoc Lake, WI
Typical home value
$2.08M
+15.7% in 12 months
Zillow, August 2026
Median sale price
$1.95M
+19.3% year over year
Redfin, through January 2026
Days on market
138
Slow-moving
Redfin, through January 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$250,001
Home costs 8.3x income
U.S. Census ACS, 2023
Sale-to-list ratio
97.5%
Selling below asking
Redfin, through January 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Oconomowoc Lake a buyer's or seller's market?
Oconomowoc Lake, WI is a leaning buyer's and homes selling in about 138 days. We classify markets from months of supply, sale-to-list ratio and days on market together — no single number decides it.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Oconomowoc Lake housing market data show?
Every row below is Redfin's final published month for Oconomowoc Lake, WI. Redfin, through January 2026
| Metric | Value |
|---|---|
| Median sale price | $1.95M |
| Year-over-year price change | +19.3% |
| Median price per sq ft | $326/sq ft |
| Median days on market | 138 days |
| Sale-to-list price ratio | 97.5% |
| Homes sold (that month) | 1 |
| Market condition | Leaning buyer's |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Oconomowoc Lake is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Oconomowoc Lake is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Oconomowoc Lake home prices moved?
Across the 29 months we hold for Oconomowoc Lake, WI, the median sale price rose 69.6%, from $1.15M in May 2021 to $1.95M. The live Zillow value series has rose 15.7% in the last 12 months, which is the more current read now that Redfin's series has stopped.
Redfin, through January 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Oconomowoc Lake?
Priced off the typical home value of $2.08M at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $416,491 | $1.67M | $11,117/mo |
| 5% | $104,123 | $1.98M | $13,202/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $11,117, that implies roughly $476,455 a year before you add taxes and insurance. The median household in Oconomowoc Lake earns $250,001, about $226,454 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the typical home value to fit the 28% rule. That puts the price-to-income ratio at 8.3x — well above the 3x that was historically considered affordable, which is why down payment size drives who can buy here.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Oconomowoc Lake in the next 12 months?
Tell us your timeline. We send the Oconomowoc Lake market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Oconomowoc Lake?
Zillow does not publish a rent index (ZORI) for Oconomowoc Lake, WI, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Oconomowoc Lake?
Active listings in Oconomowoc Lake, WI went from 5 in June 2023 to 1 in December 2025, a -80.0% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| August 2023 | 4 | not published |
| September 2023 | 3 | not published |
| November 2023 | 3 | not published |
| December 2023 | 1 | not published |
| May 2024 | 4 | 3 |
| July 2024 | 2 | not published |
| March 2025 | 1 | 1 |
| May 2025 | 3 | 2 |
| August 2025 | 4 | 1 |
| September 2025 | 4 | not published |
| October 2025 | 3 | not published |
| December 2025 | 1 | not published |
Redfin, through December 2025
How does Oconomowoc Lake compare to Wisconsin and the U.S.?
Oconomowoc Lake homes sell for $1.95M — 439% above the Wisconsin median of $361,600. Against the national median of $410,700, Oconomowoc Lake runs 375% higher. Year-over-year, Oconomowoc Lake moved +19.3% against Wisconsin's +6.5% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Oconomowoc Lake, WI | $1.95M | +19.3% | 138 days |
| Wisconsin statewide | $361,600 | +6.5% | 44 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through January 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Oconomowoc Lake
What buyers should watch
- The gap between 5% and 20% down here is $2,084 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $2.08M home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Oconomowoc Lake listing goes under contract in 138 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 97.5% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- Your equity moved +15.7% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Oconomowoc Lake varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Oconomowoc Lake
Explore homes currently listed for sale in Oconomowoc Lake, Wisconsin across major real estate platforms.
How much do homes cost in Oconomowoc Lake by property type?
How the Oconomowoc Lake, WI market breaks down across single-family homes, condos and townhouses. Redfin, through January 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $1.95M | $326/sq ft | 1 | 138 days |
Who lives in Oconomowoc Lake?
American Community Survey estimates for Oconomowoc Lake. U.S. Census ACS, 2023
Population
699
Households
240
Median income
$250,001/yr
Median age
55.5 years
Owner-occupied
98.8%
Median home value
$1.33M
Mean commute
24 min
98.8% of occupied homes in Oconomowoc Lake are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $1.33M against Zillow's $2.08M typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions.
Which cities are near Oconomowoc Lake, WI?
Ordered by distance from Oconomowoc Lake, not by size. Compare Oconomowoc Lake side by side with any of them.
Oconomowoc Lake housing market FAQ
Is Oconomowoc Lake a buyer's or seller's market?
Oconomowoc Lake, WI is currently a leaning buyer's based on the supply, pace-of-sale and sale-to-list data we hold for this city. Redfin's public market tracker last published in May 2026, so this classification will not move until a new source fills that gap.
How much do homes cost in Oconomowoc Lake?
The typical home in Oconomowoc Lake, WI is worth $2.08M (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $1.95M, about $326 per square foot.
Is Oconomowoc Lake cheaper than the rest of Wisconsin?
Oconomowoc Lake's median sale price of $1.95M is 439% higher than the Wisconsin statewide median of $361,600, and 375% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Oconomowoc Lake?
Homes in Oconomowoc Lake, WI spent a median of 138 days on market before going under contract, versus 44 days statewide. Over two months means buyers have time to inspect, compare and negotiate. (Redfin, through May 2026.)
What income do you need to buy a home in Oconomowoc Lake?
At the current 30-year fixed rate of 7.03%, 20% down on a $2.08M home is about $11,117 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $476,455 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $250,001.
Are home prices rising in Oconomowoc Lake?
The typical home value in Oconomowoc Lake, WI rose 15.7% over the last 12 months, from $1.80M to $2.08M (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Oconomowoc Lake?
Oconomowoc Lake ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Oconomowoc Lake?
That depends on your timeline, not on a headline. What the data says today: Oconomowoc Lake, WI is a leaning buyer's, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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