Published October 25, 2026 in Market Update

Primary market inventory is tight even as more homes close

By John Larson

Real estate, Primary market

The one fact that matters most right now: inventory is very thin. The Real Estate Data Aggregator counted just 14 homes for sale in ZIP 53129 during the three months ending August 31, 2026. That is down 39.1% from the same period in 2025. Fewer choices mean buyers must be ready to move.

The Real Estate Data Aggregator measured 0.9 months of supply in ZIP 53129 for the same period. That is down 0.8 months from a year before. A balanced market typically carries five to six months of supply. At 0.9 months, well-priced homes draw serious attention quickly.

More homes are closing. The Real Estate Data Aggregator counted 46 homes sold in ZIP 53129 during those three months. That is up 9.5% from the same period in 2025. Homes are also selling faster: the median days on market fell to 28 days, 10 days shorter than a year before.

Prices dipped a little, but most homes still sold above list

The median sale price in ZIP 53129 came in at $400,000 for the three months ending August 31, 2026, according to the Real Estate Data Aggregator. That is down 4.9% from the same period in 2025. Prices softened some, but that does not tell the whole story.

The Real Estate Data Aggregator found that 60.9% of homes in ZIP 53129 sold above list price during those three months. That share is down 10.5 points from a year before, so competition eased a little. Still, nearly 3 in 5 homes cleared their asking price. The average sale-to-list ratio was 103.2%, down 1.5 points from a year before.

Fewer new listings are coming to market

The Real Estate Data Aggregator recorded 41 new listings in ZIP 53129 during the three months ending August 31, 2026. That is down 18% from a year before. Fewer listings coming in means the thin supply is unlikely to ease quickly.

The share of homes that went under contract within two weeks of listing was 65.7%, according to the Real Estate Data Aggregator. That is down 5.1 points from a year before, but still high. Most homes that are priced well are not sitting long.

The national picture adds context

Nationally, the National Association of Realtors reported inventory reached 1.60 million homes in September 2026. That is far more supply than the Primary market is seeing. The National Association of Realtors also reported existing-home prices rose 1.3% year over year in September 2026.

Mortgage rates remain a factor for buyers. Freddie Mac put the average 30-year fixed rate at 7.32% as of October 22, 2026. The 15-year fixed averaged 6.68% the same week. Realtor.com reported the average mortgage rate on the market at 7.40% as of October 22, 2026. Higher rates shape what buyers can afford and how quickly they act.

Realtor.com also reported that national pending home sales were down 11.3% year over year in September 2026. In ZIP 53129, the Real Estate Data Aggregator counted 35 pending sales for the three months ending August 31, 2026, down 27.1% from a year before. Pending sales can signal where closings are heading next.

These are ZIP code numbers for the three months ending August 31, 2026. One street can read very differently from the whole ZIP code. A single block, a school boundary or a price range can shift the picture entirely.